How to start a property management company the right way

Laurie Mega
Laurie Mega | 21 min. read

Published on October 16, 2024

The property management industry is projected to surpass $26 billion by 2026. Growth like that makes the market appealing for property managers looking to start a property management company from scratch, take on more doors—or even real estate brokers looking to try property management out.

Still, there’s a lot to think about before you dive headfirst into starting a property management company. That’s why we’ve put together a comprehensive list of what you’ll need to do before you open your business’s doors to owners and residents.

Read through the whole guide (or check out the video above) on how to start a property management business or jump to each section to get a picture of every bit of hard work that goes into starting your own property management business—and how to make each step easier.

What's Your Next Move?

Starting a property management company involves much more than securing properties. To win in property management, you’ll need great customer service and project management skills. You’ll need to keep on top of industry trends as well as local rules and regulations.

You will have to know how to market your business and your properties, pull potential clients and residents down the marketing funnel and get contracts and leases signed. It seems overwhelming right?

You don’t have to do it alone. If you’re serious about learning how to start a property management company, break the process down step-by-step, surround yourself with a reliable team, and use the resources and technology available to simplify your tasks. Take the first step today by setting up your business structure, investing in the right tools, and building a network that will support your growth. With careful planning and dedication, you’ll soon be on your way to building a thriving property management company.

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Laurie Mega

Senior Manager, Content

Laurie Mega has planned, written, and edited content on a variety of subjects. Her work has been published by HomeandGarden.com, The Economist, Philips Lifeline, and FamilyEducation, among others. She lives in the Greater Boston Area with her husband and two boys.

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