property management business plan template

Property Management Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

1. Executive Summary
2. Company Overview
3. Industry Analysis
4. Customer Analysis
5. Competitive Analysis
6. Marketing Plan
7. Operations Plan
8. Management Team
9. Financial Plan

Start Your Property Management Plan Here

Property Management Business Plan

You’ve come to the right place to create your property management company business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their property management companies.

Below are links to each section of your property management business plan template:

2. Company Overview – The Company Overview section will provide an overview of your business, history of the company and property management services offered.

3. Industry Analysis – This will include an overview of the property management industry, trends, and issues facing your industry.

4. Customer Analysis – Here, you will outline your target market. This includes information on demographics, psychographics, and behaviors.

5. Competitive Analysis – This section includes an overview of your direct and indirect competitors, their market share, your competitive advantage, and how you plan to compete against them.

6. Marketing Plan – The Marketing Plan will describe your marketing strategies, pricing details, and promotional activities.

7. Operations Plan – This section describes your business operations.

8. Management Team – This section will provide information on the management members of your team. This includes their experience, education, and skills.

Next Section: Executive Summary >

Property Management Business Plan FAQs

What is a property management business plan.

A property management business plan is a plan to start and/or grow your property management business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your property management business plan using our Property Management Business Plan Template here .

What Are the Main Sources of Revenues and Expenses for a Property Management Company?

The main source of revenue for property management companies are management fees and maintenance markups. Revenue is also generated from commissions, lease ups, and upcharges.

The key expenses are payroll and contractor fees, rent, supplies, and utilities.

How Do You Get Funding for Your Property Management Company Business Plan?

Companies are typically funded through small business loans, personal savings and credit card financing.

What are the Steps To Start a Property Management Company?

Starting a property management company can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Property Management Company Business Plan - The first step in starting a business is to create a detailed business plan for your property management company that outlines all aspects of the venture. This should include market research on the property management industry and potential target market size, information about the property management services you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your business is in compliance with local laws.

3. Register Your Property Management Business - Once you have chosen a legal structure, the next step is to register your business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Property Management Equipment & Supplies - In order to start your business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful property management company:

How to Start a Property Management Company
How to Start a Property Management Business

Where Can I Get Property Management Business Plan PDF?

You can download our free property management business plan template PDF here . This is a property management business plan template you can use in PDF format.

How To Create A Business Plan For Property Management (Guide)
Property Maintenance & Management

property management business plan template

by Stephen Michael White

January 14, 2020

Welcome to the world of property management. Perhaps you’ve already been acting as a landlord to one property for a few months or years now, and you’re ready to expand. Maybe you haven’t actually bought any property yet, but you’ve been itching to be able to call yourself a landlord.

Regardless of how you ended up here, ready to flesh out your property management business plan, welcome to this exciting world!

While many people become landlords almost accidentally as they move houses and hold onto their former properties, there needs to be intention in your business as you grow and move forward if you want to succeed. Without a plan, you’ll be spreading your efforts ineffectively. That will hurt your bottom line.

To succeed in any entrepreneurial effort, you need to have a plan. Business plans can take many different shapes and forms, but the plan needs to be effective for you. Goals, progress points, and overall ambition can be harnessed and directed through a simple document.

Now, it’s time to learn how to create a business plan for property management your way. It’s time to pave your path to success!

A Table Of Contents For Creating Your Business Plan

What is a property management business plan, why you need a business plan, what to do before your write your plan, what to cover in your plan, evaluating and marketing properties.

what is property management business plan

There is no one-size-fits-all business plan model. In fact, property managers are all likely to have a wide variety of ideas about what their long-term goals are and how they will get there. Additionally, individuals have different short-term goals that act as waymarkers on their path to long-term success.

The business plan is a living document that outlines the idea of how to get from point A to point B. As things change, the document can change, too. If a great property suddenly becomes available when your short-term goals didn’t include a new property, it might be time to adjust the plan!

Part of the beauty and wonder of a business plan is that it should work and grow with you. Sticking to your plans is important, but it is also important to recognize that goals and best steps for success will change along the way. As long as you keep evolving, make sure that you keep your business plan up-to-date with you!

Note: Owner And/Or Manager

On the flip side, you might want to start a property management business that takes on investor clients. These clients own properties, and you manage them. Just as most people tend to do a little bit of both, this guide will cover a little bit of both, too!

There are a few key reasons that you need a business plan. First, you should want to have one to help guide you. Working on your own or with a small team can be overwhelming at times, and you may lose track of where to focus your energy.

When you have a business plan, you can turn to it to find guidance and get back on course.

Another reason that many new property managers want to figure out how to write a property management business plan is because they want to get a loan. Most financial institutions will not give loans to investors unless they have proof of business plans, so having a solid plan in hand can help you get the funds you need to kickstart your business.

Of course, there are many reasons that having a business plan as a property manager might be a good idea. There are even a few reasons that you might not need one right now! Let’s briefly review some of the primary pros and cons of creating your own business plan.

Organize Your Ideas

One of the biggest benefits of creating your own personal business plan is that you can organize your ideas and see how they all fit together. It can help you figure out how to get into this business at all !

Thinking through what you want to do with your business might lead you on twenty tangents; getting them all on paper can help you link up related and relevant ideas.

Regular Guidance

As mentioned, it’s easy to get lost in the world of property management. When you’re dealing with the day-to-day tasks of being a landlord and you also want to expand your investments, you might feel like you don’t have enough brainpower to do it all.

Having the guidance of a solid business plan to recenter and keep you on track is a golden ticket to success.

Pitch To Clients

Another huge benefit of having this document ready to go is that you will be able to bring in clients ASAP! Running a rental property management company will rely on you having a regular stream of investor clients that need their properties handled, so you want to be able to show them your plans and how you will help them succeed.

Adjust As You Go

Another cool thing about business plans is that they should always be written as a living document. A living document is a document that is meant to be changed and adjusted over time. As your business goals and needs change, your document can, too.

Secure Support

Do you want to get backing from a financial institution for your first big investment? Are you hoping to grow a small team to help your business grow? Using a business plan to secure these types of support is a great technique. When you show that you are planning for what’s next, you’ll be sure to find others to support your cause.

Plan Your Next Steps

Finally, writing a business plan can make you think ahead. Many people focus solely on what they want to do in the immediate future. It’s good to live in the moment, but you also need to think about your long-term investment payoff to ensure that the small steps you take today help you make a giant leap in the future.

Time Consuming

The biggest con about a business plan is that it can be very time-consuming to put together, but the time that you save by having this document available makes that investment well worth it for most. If you follow the rest of the guide that we’re sharing today, this process can even go a little bit faster than usual!

Some landlords find the prospect of writing out the one-month, three-month, or three-year future of the business to be very daunting. You should put a lot of passion into the plan’s creation, but you should also remember that the document will never be complete or uneditable. Let go of some of the stress by reminding yourself that adjustments can be made as needed.

Potentially Unnecessary

If you are just dabbling with the idea of becoming a landlord, it might not be necessary for you to dive deep in property management business plans just yet. Not every landlord needs to have a full-fledged rental property or property management business.

Managing just one property can be enough for many people, and those people won’t be needing a business plan to organize themselves.

If, however, it’s time to consider yourself a full business , it’s time to create your plan.

Before you write your plan, there are a few things that you should think about. We recommend getting a blank notebook and using this notebook to jot down any and all ideas that you have about the rental business. Do this for at least one week, and then re-read through the ideas for another week. Add more as you go.

If you aren’t feeling inspired enough to start from scratch, these questions might help you think more about what type of business you want to create and why:

What are your long-term goals?
What are your short-term goals?
How many properties do you want to own?
How many properties do you own now?
Do you want to own properties, or do you want to work for clients strictly as a property manager?
Do you want to hire additional team members?
Do you have any loans or plans to add any loans?
Why do you want to be in this business?
Do you have experience with tenants?
Are there any skills that you need to learn before becoming a property manager and business owner?

These questions are in no way comprehensive of all the things that you could think about. The idea is that you want to create a brain dump of everything that has been circulating when you think about the business. With all of these scribbles, you can start creating your property management company business plan.

You now have a large list of ideas, thoughts, and dreams about your business. It’s time to formalize those ideas and get them into an organized and achievable plan.

In this part of the guide, we’re going to concentrate on the different sections that you should put into your property management business plan. It’s impossible for us to cover every single thing that you might want to include, but remember that you can be flexible about your plan. Adjust as you need to, but remember that all of these sections are included for a reason.

Our Services & Business Model

This section covers who your business is, what they do, and how they are generally structured. Is it strictly a management company, or is it also an investment company? This small profile should bring clarity to that question.

Our Mission & Goals

Next, outline your short and long-term goals for the business. If possible, it’s also great to create a general mission statement that you can use to pitch your business to clients.

Team Structure

What kind of positions will you have in the business, and what are the position’s responsibilities? Outline the structure of the team, and be sure to update this part of the document as your team expands.

Services Offered

What does the business offer clients? What comes in standard packages, and what must be paid for additionally to complete?

Fee Structure

Cover the general fee structure, and update the fees as soon as they change so that all information included in the document about your fees is accurate.

Finding Clients/Properties

This section should detail how you plan to pitch to clients, what your ideal market is, and what types of properties you expect to run or invest in.

How will your business determine the rental value of a client’s property and market it so that it stands out in a rental-heavy industry?

Screening Tenants

Detail your screening best practices, and be sure to include information about your compliance for federal, state, and local laws when screening. Including expected turnover rate can make for an interesting metric here.

Rent Collection

This section should explain the various types of rent collection that will be available, and it should also include information about how rent will be collected or transferred to the primary owners.

Inspections and Maintenance

A complete guide of inspections needed, maintenance schedules, and what needs to be done in the case of an emergency should also be included in the business plan.

Continuing Education

If there are skills that you need to learn or licenses that you need to get to operate the business legally, you will want to outline how you are going to accomplish these goals in the business plan.

Finally, it is important to give your expected cash flow and budget for each year as well as for sample properties and clients. By creating some basic projections based on old data where available, it will be a little bit easier to plan for the future.

You Can Find Success In A Plan!

Setting up a property management business plan just makes sense if you’re ready to expand your business by buying more property or bringing on more clients that need help with their properties. The only way to smoothly transition into a new phase of your career is to set up a clear plan!

Using a business plan might seem like an old school idea, but it is actually an incredibly invaluable idea that still has a lot of worth and merit in the industry today. What are you waiting for? It’s time for your future to be planned!

Business Plan Template for Property Managers

Great for beginners
Ready-to-use, fully customizable Subcategory
Get started in seconds

Are you a property manager looking to take your business to new heights? Then you need a solid business plan that will impress investors, secure financing, and guide your property management operations. Look no further than ClickUp's Business Plan Template for Property Managers!

This template empowers property management companies by helping them:

Clearly define their goals, objectives, and market strategy
Create accurate financial projections to demonstrate profitability
Provide a roadmap for success and growth in the property management industry

Whether you're starting a new venture or looking to level up your existing business, ClickUp's Business Plan Template for Property Managers is your ultimate tool for success. Get started today and see your property management dreams become a reality!

Business Plan Template for Property Managers Benefits

A Business Plan Template for Property Managers is an essential tool that offers several benefits to property management companies, including:

Attracting investors by showcasing a well-structured and comprehensive plan
Securing financing by outlining financial projections and demonstrating profitability
Providing a clear roadmap for successful property management operations
Identifying target markets and developing effective marketing strategies
Setting realistic goals and objectives for business growth and expansion
Evaluating the competitive landscape and identifying opportunities for differentiation
Establishing a solid foundation for decision-making and strategic planning
Ensuring effective resource allocation and efficient budget management

Main Elements of Property Managers Business Plan Template

ClickUp's Business Plan Template for Property Managers provides everything you need to create a comprehensive and professional business plan for your property management company. Here are the main elements included in this template:

Custom Statuses: Keep track of the progress of each section of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do.
Custom Fields: Add important details to your business plan sections using custom fields such as Reference, Approved, and Section, allowing you to provide additional context and information.
Custom Views: Utilize different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to easily navigate and organize your business plan sections, ensuring a clear and well-structured document.
Collaboration: Collaborate with your team in real-time by assigning tasks, leaving comments, and attaching relevant files to each section of your business plan.
Integration: Seamlessly integrate your business plan template with other ClickUp features like Docs, Goals, and Gantt chart to streamline your property management operations and ensure alignment with your business plan goals.

How To Use Business Plan Template for Property Managers

If you're a property manager looking to create a comprehensive business plan, the Business Plan Template in ClickUp can help you get started. Follow these five steps to develop a solid business plan for your property management company:

1. Define your company's mission and vision

Start by clearly defining your company's mission and vision statements. Your mission statement should outline the purpose and goals of your property management business, while your vision statement should describe the long-term aspirations and values you aim to achieve.

Use a Doc in ClickUp to brainstorm and write down your mission and vision statements.

2. Analyze the market and competition

Conduct a thorough analysis of the market and competition in the property management industry. Identify the current trends, target market segments, and key competitors in your area. This will help you understand the competitive landscape and identify opportunities for growth.

Use the Gantt chart feature in ClickUp to create a timeline for your market analysis and competitor research.

3. Define your services and pricing strategy

Clearly define the range of services your property management company will offer, such as tenant screening, rent collection, property maintenance, and lease agreements. Determine your pricing strategy by considering factors like market demand, service quality, and profitability goals.

Create tasks in ClickUp to outline your services and pricing strategy, and assign them to team members responsible for each area.

4. Develop a marketing and customer acquisition plan

Outline your marketing and customer acquisition strategies to attract property owners and tenants. Determine the channels you'll use to reach your target audience, such as online advertising, social media, and local partnerships. Develop a plan for lead generation, conversion, and customer retention.

Use the Board view in ClickUp to create a visual marketing and customer acquisition plan, with columns for different strategies and stages of the customer journey.

5. Set financial goals and projections

Finally, set financial goals and projections for your property management business. Determine your revenue targets, operating expenses, and projected profits. Create a budget that includes expenses for staff salaries, marketing, technology, and property maintenance.

Use the Goals feature in ClickUp to set and track your financial goals, and the Table view to create a budget spreadsheet with custom fields for different expense categories.

By following these steps and using the Business Plan Template in ClickUp, you can create a comprehensive and effective business plan for your property management company. Good luck!

Get Started with ClickUp’s Business Plan Template for Property Managers

Property management companies can use the ClickUp Business Plan Template to create a comprehensive plan for their operations, attract investors, and secure financing.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a solid business plan:

Use the Topics View to organize your plan into different sections, such as goals, market strategy, financial projections, etc.
The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do.
The Timeline View will give you a visual representation of the deadlines and milestones for your business plan.
The Business Plan View will provide you with a comprehensive overview of your entire plan, making it easy to review and make changes.
The Getting Started Guide View will give you a step-by-step guide on how to use the template effectively.
Utilize the custom fields Reference, Approved, and Section to add additional information and categorize your plan.
Update statuses and custom fields as you work on each section to keep team members informed of progress.
Monitor and analyze your plan to ensure it aligns with your goals and objectives.
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