Property Management Questions

Tips on Business Growth

Last week somebody asked me for any ideas on how to grow a Property Management Company.  The answer I wrote might be of interest to other readers so it follows:

1. Join Apartment Associations and attend their meetings.
2. Get your CPM designation through NAR as soon as possible. Start on the courses so you can state that you are a candidate. Go to their local meeting.
3. Start a blog and become a source of info for Property Owners.
4. Get a Facebook Fan Page and start a “Property Owners Group.”
5. Compile an email list of owners and send a blast email monthly.
6. Note apartment houses in your area that have a “managed by” sign and get owner addresses from a Title Company to send proposals.
7. Arrange a one day Property Management course for Owners and contact Adult Ed. and Community Colleges to present.
8. Join Toastmasters and then start giving free talks to Service Type Groups.
9. Go to www.dca.ca.gov and www.courts.ca.gov.  They have outstanding articles on the following topics that you could give to owners/prospects.
10. Repairs
11. Trust Fund Return Deposits
12. Evictions
13. Small Claims, etc.
14. Develop good building rules, policy letters, etc., to show owners you know what you are doing.
15. Start to form small investment syndications and develop your own owners.  I always appreciated managing buildings when I was the General Partner.
16. Work hard and stay focused. Prioritize and spend time each day on prospecting.
17. Visit Investment groups.
18. Become a Broker.
19. Some things I did when I was starting:
20. I taught nights at UCLA to get prospects.
21. Wrote a weekly column in the Daily News.
22. Spoke at Apartment Management Association conventions.
23. Contacted large real estate companies to refer me PM prospects if they did no PM in-house.
24. Mailed postcards.
25. Contacted attorneys for court receiver work.