I am a newer Broker. I have a potential partner who has made a proposal that would involve us beginning to do property management, something we do not currently offer. I have not looked at this type of business avenue before and would appreciate some insights on how to get things started, what services to offer, what to charge, how to manage the process (good software??), insurance pitfalls and costs - basically starting from scratch and want to be sure I make an informed decision and develop a good structure. Located in Ohio. Thanks for your help!
Christian Realty San Antonio - San Antonio, TX
GRI, e-PRO, TAHS, SFR, Notary Public
Cyndi,
Always good to look before you leap.
Ask your local mentor. Or two. Or a local RE trainer.
Take all the property management classes available BEFORE taking the plunge.
Address property management in your office policy manual in detail.
Do not allow agents (?) to work property management without first taking all required classes.
Talk with your E&O provider to see how much more it will cost.
Q: would you be able to break in to the local market? Who is your competition?
Single-family? Multi-famil? Both??? HOA???? Apartments??
A whole lot of decisions to make.
Best wishes
Dominick
Jun 17, 2010 12:31 PM
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