Beginning a property mgt company- is it worth it?
My husband and I currently have 4 properties and are working on obtaining a 5 unit property. We are looking into beginning a small property management company here locally. Has anyone successfully began a small property management company within a rural area? I have had multiple realtors tell me that we do not have options in this area and this area certainly needs a great property management company.
If we go this route- is there a benefit to becoming a CPM? Our state laws do not have requirements for being a property management and Id like to just do what is most practical. My mother is a CPM in a different state and would be my primary mentor if we decide to go this route.
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@Amanda Eyler I do not have experience as a property manager, but it sounds like you have found a business need. I hear about people firing their PM company on a daily basis. Put some real thought in your business plan and start getting some of the local market share.