Start A Property Management Business

in Uncategorized by admin — February 10, 2011 at 16:43 | 0 comments

The property management business is a clever idea for somebody who wishes to make a great revenue without taking too many perils. My expedition into property management was solely by chance. I had about fifteen patios in Dundee and employed a full-time convenient man to trouser rents and sort out any minor repairs. My buddy Chris knew that my properties were well managed and he queried if I would look after his mother’s flats. I knew that she wasn’t well and because of her contentment in the year half her places had lain empty. I reluctantly concluded and started hiring out her properties.

I was in a position to get her occupancy up to over 90 %. My charging structure was simple as I kept ten p.c of the rent and she also paid all costs. She was OK with my service and told her friends who approached me to do the same for them. Being busy though not needing to decline immediately I offered to supply the same service but at 15% of the monthly lease. To my awe they concluded. Private advice got around and shortly I had to start turning people away as I was far too hard at it handling my packing company to do property management full time! Had this business not been doing well I might have started handling properties full time. They offered me the properties for an identical price they’d bought them for one or two years gone.

I spent one week or 2 doing them up and had them leased out in almost no time.

When property costs started rising strongly I sold both, making decent money only to luck out on the genuine boom in costs! If you have the time to waste why don’t you consider handling other peoples’s properties? Be warned though you’re on call twenty four / 7 if an emergency occurs at any of the properties.
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