How to start property management company ?

7 Replies

Hey bp family I’ve been brainstorming on some new strategies to work with a tenant on in leasing properties for rent or lease to own. So I wanted to a bit of insight on what would make you consider picking a property management company ? Also would you work with one that’s just starting out ?

Especially just starting out the property management company would need to be licensed.  In addition I would want better than average fee structure, and a plan for both marketing and repairs.  It is much better if you can mange at least your own rentals as it shows experience.  For someone with no RE experience and no experience managing rentals starting a property management company is not the first step if you want to win a customer's business.

@Gerald McCullough Look for a property management individual or firm that has experience with the types of properties you own, or plan to. Ask other landlords at REI meetings who they’re using. Visit some of their properties to see how they tend to the condition and tenants. If you’re hiring an experienced licensed real estate broker that’s forming a property management company, it could work out well (if they know your property class and market).