Full-Service property management company
Open a small office managing dozens of rentals with a broker license and a small team.
- $10k-40k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in the US, not guarantees.
Official data
60,818 US businesses with employees in this field, +5.9% in a year
NAICS 531311 “Residential property managers”. Source: U.S. Census Bureau, County Business Patterns 2023.
What it is
A full-service company with a small office that manages a larger portfolio of single-family homes and small apartment buildings. It covers leasing, rent collection, accounting, inspections, maintenance coordination and owner reporting.
Your first three steps
- Find out what license your state requires, such as a broker license or a licensed property manager in charge, and how to get one
- Choose property management software and set up trust accounts, a business entity, EIN and insurance
- Build a pipeline by networking with real estate agents, investors and local landlord groups, and aim for your first 10 to 20 units
Who pays
Investors, landlords with several properties and small apartment building owners who want a professional manager.
How it makes money
Monthly management fees, usually a percentage of rent, plus leasing fees, renewal fees and sometimes markups on coordinated maintenance, as allowed by your agreement and state rules.
Skills that help
- Managing people and vendors
- Bookkeeping and trust accounting
- Knowledge of landlord-tenant law
- Sales and relationship building with owners
Watch out for
- Many states require a broker or similar license to run a management company, so check your state's real estate commission
- Trust account and security deposit handling is strictly regulated in many states, so get advice from an accountant or attorney
- Fair housing, eviction and habitability laws vary by state and city
- General liability, errors and omissions and workers' compensation insurance once you hire
- Costs of rent, software and staff come before the fees build up, so plan cash for the first months
Deep research report · US
Everything you need to start: full-service property management company
Researched with live web search for United States: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
What licenses should I check before starting a property management company?
Many states require a broker or similar license to run a management company, so check with your state's real estate commission. Also check trust account and security deposit rules, fair housing, eviction and habitability laws, and insurance such as general liability, errors and omissions, and workers' compensation once you hire.
How much does it cost to open a property management office?
Startup costs are estimated at typically around $10,000 to $40,000, depending on office rent, software, insurance, licensing and staff. Rent, software and payroll come before management fees build up, so plan cash for the first months.
How much can a property management company earn?
Monthly revenue is estimated at typically around $3,000 to $15,000, depending on the number of properties you manage and your fee structure. The estimate assumes a full-time schedule of about 35 hours a week or more, and it can take time to build a portfolio.
Other ways to run this business
Property manager for small local landlords
Run rentals for owners of a few properties: find tenants, collect rent and handle repairs.
- $1.5k-8k
- Part-time
- From home
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Manage Airbnb-style rentals for owners: listings, guests, cleaning turnovers and upkeep.
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- Side hustle
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