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Start your own property management business [5 Steps]

Are you thinking about starting a property management company? It’s a growing industry with room for ambitious, hard-working people who want to own their own business. According to MarketsandMarkets.com, the property management industry was worth more than 12 billion dollars in 2017. That number could rise to an incredible $22 billion in the next five years. That’s why now is the perfect time to set up your business and start claiming your part of the industry.

Starting a successful property management company on your own can take years, though. Without the right marketing, experience, and industry knowledge, starting a company from scratch can be a frustrating and time-consuming drain on your finances. Many people instead choose to launch their property management business by buying a license. The key is to work with an established management company such as Property Management Pros. There are many advantages to starting your business this way:

  1. It’s way faster. With a property management license, you can have your business up and running in a matter of weeks. 
  2. It’s much cheaper. Licenses give you access to tools, knowledge, and access to services that you’d pay much more for if you are on your own. 
  3. Offers brand recognition. When you license with a nationally-known company, you instantly boost your marketing efforts. This goes a long way in the sales lead generation and sales process.

Not convinced a license is the right way to start your business? Take a moment to download our cost comparison sheet so you can see for yourself how purchasing a license is the best way of starting a property management business. 

It takes just five easy steps to become a property manager when you take the license route. Here are the steps to getting started.

The 5 Steps to Become a Property Manager

1. Choose Your Market

One of the great things about the property management industry is that there is a need for the service in virtually every corner of the United States (and other countries for that matter). Once you have identified areas in the United States that are particularly in need of property management companies, you can dig a little deeper and make sure that it makes sense for you. There is a good chance there is one that’s near you; if not, you may want to consider moving to an area that is best suited to your dream of owning a successful property management company. 

If you are in need of a little help in the research department, Property Management Pros has done the market research for almost all major markets in the United States and is standing by to share that data with you whenever you are ready.

2. Sign the Agreement

Make sure that you thoroughly read the agreement and understand what’s included with your license agreement and what is not included, this will save you a lot of headache down the road and make sure everyone is on the same page.

Property Management Pros’ licensing agreement not only grants permission to use a nationally-recognized brand but also gain access to marketing tools and services to help you promote your new business. You will also receive access to business management tools, premade documents, and a community of other license holders that you can leverage to hit the ground running.

3. Attend Training

There is more to being a successful property manager than collecting the rent. You’ll need to understand how to market your business as well as the properties you manage. Property managers often use specialized tools such as CRM’s or Property Management Portals. Learning to use these software tools will play a huge role in automating processes in your business.

You’ll need to know how to handle tenant and owner relationships and proactively assist both. Additionally, you need to know how to put the tools included in your license to good use and understand the basic principals of business. Property Management Pros can start training from the day you sign your license to help you get started faster. 

4. Network with Other Professionals

When you buy a license from Property Management Pros you’ll become part of a national team of property managers. With a network of licensees across the United States, co-marketing is easier than ever.

You’ll have access to our other licensees both in person and online so you can ask questions and get answers from others who have been in your situation. It’s a tremendous resource for every license holders.

5. Launch Your Business

You can be ready to launch your property management company in a matter of weeks with this process. You will eliminate the need to create documents, build your brand, or find the marketing tools that are right for your company. When you sign your license, you will get all of that, along with access to the training necessary to use it, preparing you to launch your business as soon as possible.

Ready to Become a Property Manager?

We’re ready to help you make your property management dream a reality. It’s time to become your own boss, call the shots, and get your business up and running in the quickest, easiest way possible.


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Disclaimer: Property Management Pros is not intended to be marketed as a Property Management Franchise, but rather a License. Every state has different laws regarding real estate and brokerage laws dealing with Franchises and Licenses.