Property Management Business Plan
You’ve come to the right place to create your property management company business plan.
We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their property management companies.
Below are links to each section of your property management business plan template:
2. Company Overview– The Company Overview section will provide an overview of your business, history of the company and property management services offered.
3. Industry Analysis– This will include an overview of the property management industry, trends, and issues facing your industry.
4. Customer Analysis– Here, you will outline your target market. This includes information on demographics, psychographics, and behaviors.
5. Competitive Analysis– This section includes an overview of your direct and indirect competitors, their market share, your competitive advantage, and how you plan to compete against them.
6. Marketing Plan– The Marketing Plan will describe your marketing strategies, pricing details, and promotional activities.
7. Operations Plan– This section describes your business operations.
8. Management Team– This section will provide information on the management members of your team. This includes their experience, education, and skills.
9. Financial Plan– Here, you will provide the financial model and financial statements for your business. This includes your income statement, balance sheet, and cash flow statement.
Property Management Business Plan FAQs
What Is a Property Management Business Plan?
A property management business plan is a plan to start and/or grow your property management business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What Are the Main Sources of Revenues and Expenses for a Property Management Company?
The main source of revenue for property management companies are management fees and maintenance markups. Revenue is also generated from commissions, lease ups, and upcharges.
The key expenses are payroll and contractor fees, rent, supplies, and utilities.
How Do You Get Funding for Your Property Management Company Business Plan?
Companies are typically funded through small business loans, personal savings and credit card financing.
What are the Steps To Start a Property Management Company?
Starting a property management company can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Property Management Company Business Plan - The first step in starting a business is to create a detailed business plan for your property management company that outlines all aspects of the venture. This should include market research on the property management industry and potential target market size, information about the property management services you will offer, pricing strategies and a detailed financial forecast. Â
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your business is in compliance with local laws.
3. Register Your Property Management Business - Once you have chosen a legal structure, the next step is to register your business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.Â
4. Identify Financing Options - It’s likely that you’ll need some capital to start your business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.Â
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.Â
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.Â
7. Acquire Necessary Property Management Equipment & Supplies - In order to start your business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.Â
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.Â
Learn more about how to start a successful property management company:
Where Can I Get Property Management Business Plan PDF?
You can download our free property management business plan template PDF here. This is a property management business plan template you can use in PDF format.