Setting Up A Property Management Agency – Part Two

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• Before launching your property management agency , you need to figure out whether your focus is on selling properties to owners or helping landlords manage rental holdings. In both situations, you will need to network and help the landlord find new clients and interested parties. However, though selling could earn you more money, it tends to be a one-time transaction. You sell a land to someone, but you have no guarantee that they will come to you the next time they want to buy. If, however, you manage an asset, it is a long-term relationship. And if the landlord has multiple properties and is satisfied with your effectiveness, then there is the chance that you will be asked to manage the others as well.
• When starting a property management agency you do not initially need office space and can easily work from home. You will need to figure out whether your home falls into a business or residential district in order to do this as the laws vary for both. Setting up a home office is quite easy. However, once your property management agency starts expanding and you need to hire more employees, it might be a good idea to get yourself an office space. It will not only help your efficiency but will also improve your profile in the eyes of clients.
• Getting yourself a website, visiting cards, and using the free networking sites available on the Internet should help you start off with the publicity and marketing of your business. In fact, Marketing 2.0 is the rage today and has proved to be very successful for many. In fact, if it is not working for you, it actually means that you do not know how to use it right. Along with this, using social events to speak about your business venture might also be a good idea.

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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.