Friday, September 28, 2012

Business in property management? -

I would like to open a business as a property management(maintenance) llc , more specific taking care of vacant homes.... is there a market for this? i would like to start small and build a solid list of clients. any opinions or advice would be very much appreciated. i come from a real estate sales background.

There may be a market for it, it depends on where you live. I live in the Aspen CO, area and there are a lot of vacation homes here. Here there is a market for property management Companies. I personally do property maintenance for a property management co. that manages rentals for property owners. If you want to try to break into the market. I would advise getting a liability insurance policy and going to vistaprint.com and having business cards made. Don t quit your job until you have enough clients to replace your current income.It s a lot of word of mouth and can be a tough nitch to get into. Another note, most property management companies don t do their own maintenance work, they hire it out. It can be a conflict of interest. For example, if your getting paid to manage the property and do the maintenance. Your client could accuse you of claiming there is a problem and pocketing the repair money.The company I contract for always gets 2-4 bids from different companies and turn those into the owner and let them decide what to do.

As a person involved in property management - you know that there are many fine specialty magazines that are sent to RE Agents and brokers - those are your clients. Go to your local Real Estate Brokers Licensing centers and look for publications that you can use to advertise your special services. Also you can use your yellow pages effectively by sending flyer s to RE agents, keep your rates out of the flyer s - that s something that you reveal when they call for Information and details of your services.

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