Writing a Business Plan for a Property Management Firm
Many Americans love to invest in real estate, although most people don't like being a landlord. As such, they turn to the services of a property management firm that can assist them with the dealing with tenants, collecting rents, and providing general maintenance of the property that they own. Most real estate investors and property owners are happy to provide a 10% cut of the aggregate rents generated in exchange for the services.
Over the past 14 years, Deutsch and Thomas has worked extensively with property management firms that provide these services to third-party real estate investors. We are familiar with all the different revenue streams that can be generated from owning and operating a property management firm. In fact, we have a specialized financial model that showcases the amount of revenue that is generated not only from each property but as for the business as a whole.
Deutsch and Thomas can provide you with a comprehensive business plan that includes a five-year financial model that features a profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. Additionally, we include all the necessary industry research specific to the property management industry, a local market analysis, demographic profile, competitor analysis, and all other pertinent information relating to your property management firm.
We also include a full scale marketing and advertising plan that showcases how your business will develop ongoing relationships with real estate brokerages that do not provide property management services while concurrently showcasing your services to the general public. We focus substantially on quote client acquisition and client retention within this type of business plan. One of the other key focus is that we have within the business plan is the economic stability of these companies given that they generate highly recurring streams of revenue from the ongoing management of both residential as well as commercial properties.
If you are interested in having a professionally written business plan for your property management firm please feel free to contact us anytime at 646-216-9844 or through the contact us form on this website. We look forward to working with you!