How to Start a Property Management Company
Property management is a field for the ambitious and hardworking person. A property management company handles all the details involved in managing rental properties. If you've got experience in this field it can be a lucrative business to get into.
- Find out about obtaining your business license. Inquire about property management license requirements in your state. You may have to take classes for licensure, and you can do this on weekends or evenings for your convenience. Contact the appropriate office in your area to learn about applying for the license to run a property management business in your state. Apply for your license.
- Sign up for a phone plan. Get a phone service for communication. Also, get a computer with internet access, a fax machine and printer.
- Get a business address. Get a post office box if you're going to be operating from home. That way, if you move you won't have to change your mailing address.
- Set up your business website. Create a simple website that promotes your property management company online. If you can't build it yourself, hire a graphics designer to do it for you. You can even get a student majoring in graphic design to build it for you inexpensively.
- Prepare fliers and business cards. Have professional fliers and business cards made for your company. Include your business name, website address, email and phone number and the services your company provides.
- Advertise your company. Promote your property management company by placing advertisements in local newspapers, in telephone books and online. Network with property owners in your area. Show a friendly and professional attitude and give out fliers and business cards at every opportunity.