Is It the Right Time to Sell Your Property Management Company?
Experienced businesspeople are entering the property management industry at significant rates. Learn if now is the time to sell your company and cash out.
There is a significant demand for property management services in communities nationwide. Even small investors with one or two properties realize the value a professional property manager (PM) provides, which is leading to growth within the industry.
People and companies who would never have thought of entering the property management space are currently doing so, primarily because of some market shifts in residential real estate. Real estate brokerages and agents are looking to offset a shortage in residential property transactions by offering property management services to their clients. The result is increased competition for small property management firms.
Many of these industry newcomers are purchasing franchises, giving them the tools they need to compete right away. They also have previous business experience, so they can hit the ground running.
So, should you sell your property management firm before the competition overwhelms you? The Strategic PM team recently sat down with Jock McNeill, VP of Acquisitions at Pure Property Management, to discuss what his firm is looking for in potential acquisitions so that you can make an informed decision for your future.
What Larger Firms Are Looking To Acquire
Before determining if it’s time to sell your company, you probably want to know firsthand what an acquiring firm is looking for from you.
Jeremy Pound is the CEO of RentScale and Juicy Results, two firms that help companies systematize and scale their sales. In the last decade, he has helped craft and implement online marketing strategies for countless companies that range in size from the smallest of businesses to Fortune 100 companies.