Monthly Fixed Costs for a PM Business (Central Texas) – Looking for insights

Join NARPM and pay attention to their recommended Accounting Standards, so you don't have to redo yours later - with much pain.

Use a phone system that you can run off your computer with a cordless headset and on your phone when you are away from the office. We use RingCentral, which also has built-in SMS, Zoom-like video meetings and Slack-like inter-office chat. A bit pricey, but you can record EVERYTHING for documentation purposes. 

Think ahead regarding your PM software as it will be VERY painful to switch in the future.

Insurance: you'll want E&O insurance with cyber & Fair Housing coverage.

Liability Insurance on managed properties: You can't get your own on properties you don't own. Easiest to be added as Additionally Insured to owner's policy. Only other option is to get a master policy that you would add owner properties to, but then you have to manage adding/removing and charging & collecting.

You'll have monthly and annual costs for your real estate license and local Realtor association.

Where are you going to advertise your vacant rentals? 
- MLS? Where can you syndicate?
- Direct to Zillow? They usually charge a fee, but you MUST be on their site as they have the most activity!

Where are you going to advertise your PMC to get owner leads?
- Pay-per-click is expensive:(

Keep it simple and low-cost, upgrading as you grow.