What you need to know about staying profitable in property management.
How do property management companies make a profit? The answer is pretty simple: By charging management, leasing, and renewal fees to their clients. If you’re a landlord considering hiring a property management company, those are the basic fees you can expect.
That being said, I believe that for a property management company to be sustainable long term, it needs to find win-win solutions that benefit both landlords and the company. For example, a preventative maintenance plan or insurance policy can protect the landlord’s property, provide a better experience for tenants, and help increase profits.
If you have questions about this topic or anything else, please call or email me. I am always willing to help!