What Is Property Management?
If you have ever looked after a neighbor’s house while they were on vacation, you have an idea of what property management is all about.
The duties may include:
- Regular property visits
- Keeping an eye on property vendors
- Interacting with the renters
- Handling renter maintenance phone calls 24/7
- Calling vendors for maintenance needs
- Collecting rents and paying bills
- Reporting to your client on activity and finances
- Providing competent advice
Plain and simple, managing property is customer service and communication.
Why Start a Property Management Business?
Property management has many major benefits as a business:
- You are in business for yourself and pick who you work with
- It’s a home-based business, and you have flexibility to make your own hours
- Steady, recurring pay
- Easy to get into with low barriers to entry
- Mix of office and out-of-office work
- It’s a people business – and you are helping people
- You diagnose and solve problems
- You can see the results of your actions as your efforts improve the property
When you go into business for yourself, the best approach is to choose something that is relatively easy to start and is in demand. When something is in demand, it means there are customers to be had. Property Management is in demand for three main reasons:
- The housing market is soft. Many people who cannot sell their property have moved, and they find themselves in a situation where they need someone to manage their real estate for them.
- Low interest mortgages have enabled more people to purchase vacation homes and investment properties.
- Busy people would rather pay for a service rather than do it themselves.
That’s where the Quick Start Property Manager Program comes in. You will learn how to find clients and make money as a property manager with this complete business system.
Types of Properties to Manage
There are four main categories of property that you may have the opportunity to manage:
I will cover all of these property types in my program, but I spend more time discussing where you will find easy opportunities so you can get started earning money quickly.