Property Management Business Plan Template

Competitive Analysis

Direct and Indirect Competitors

Best Bet Property Management will face competition from other companies with similar business profiles. A description of each competitor company is below.

PMI Midwest: Indianapolis Property Management

PMI Midwest provides management services, real estate services, property maintenance, and a large rental database. Located in Indianapolis, the office of PMI Midwest is able to provide a wider variety of services for their clients. Their list of services include property marketing, tenant screening, rent collection, property maintenance, and financial reporting. PMI Midwest is also able to perform contract negotiations, move-in/out inspections, accounting, and day to day management. They specialize in residential and commercial properties.

PMI Midwest’s promise is to deliver effective communication, honesty and integrity, accurate accounting, and availability of the management team. They follow a four-step process in providing excellent residential property management services – Ready, Select, Protect, and Renew. PMI Midwest’s team of experienced professionals assures the properties are run smoothly, freeing the property owner from day-to-day management responsibilities. While managing a property, they ensure the investment is being managed in order to maximize profits and cash flow.

 

ES Property Management

ES Property Management is an Indianapolis-based management company that provides outstanding investment solutions for property owners. ES Property Management takes the risk out of owning properties and renting them out. They provide comprehensive property management services for rental and investment homes, partnerships with real estate agents to manage slow-to-sell homes, advice on optimal investment property purchases, and real estate broker referrals. The ownership of ES Property Management are former real estate developers and construction professionals so they understand how a building is best built, preserved and managed. They also improve cash flow and asset value over time, resulting in strong returns on investment. Clients can depend on their unique risk-based management and repair management processes to control cost and enhance rent collection for greater stability. By choosing ES Property Management for your rental or investment home, they take the stress out of the process and are able to safely maximize your return. They use holistic inspections and a preventative maintenance process to ensure the long term value of the property.

 

T&H Realty Services

T&H Realty Services is a trusted Indianapolis property management company that provides superior service to investors and landlords in Indianapolis and the surrounding areas. They are able to provide a one-stop shop for investors who are interested in purchasing properties. T&H Realty Services is able to service new landlords, experienced investors, or frustrated landlords that need a change in property management companies. They are also able to ease the stress of self-managers who are overwhelmed by the day to day hassles and complexities that come with dealing with tenants and aging properties.

Their pricing structure is simple and straightforward. T&H Realty Service offers four different pricing programs for their services – the Silver Plan, the Gold Plan, the Platinum Plan, and the Leasing Only plan, which is for those that still want to self-manage but need help getting started.

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Competitive Advantage

Best Bet Property Management will be able to offer the following advantages over their competition:

  • Friendly, knowledgeable, and highly qualified team of real estate experts that are able to effectively deal with clients, tenants, and vendors
  • Comprehensive menu of services that allows for a property owner or investor to have a no-hands approach to their investment. Best Bet Property Management takes care of everything from property inspections, maintenance, rent collection, tenant transition, property improvements, and an accurate and complete set of financials delivered to the owner every month.
  • Best Bet Property Management offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.