What is a Property Management Business?
Property management is the act of overseeing the day-to-day aspects of a property. It includes collections, inspections, and repairs.
The business of property management can be broken down into four major parts:
(1) collecting rent and deposits from tenants,
(2) inspecting units for damages and conducting maintenance on those units,
(3) collecting rent from landlords, and
(4) managing the long-term disposition of vacant units. The goal of a property manager is to maximize income while minimizing costs.
How to Start a Property Management Company in Houston
The process of starting a property management company in Houston is not as complicated as it may seem. There are a number of steps that need to be taken and some things must be considered before getting started.
First, you need to get the appropriate licenses for your business. You will need an occupational license and a business license in order to operate legally in Houston. In addition, you will need an insurance policy that covers property management services.
Next, you will want to find properties for your business to manage and then advertise these properties so that they can be rented out or sold by the owners.
Third, you will want to hire employees or contract with other companies who can provide these services on your behalf. With this step completed, you should have everything ready for the day when your new company starts operating!