Property Management Inc. Releases New E-Book to Help Property Managers Scale

Property Management Inc., the nation’s number one property management franchise and Entrepreneur Franchise 500® honoree, has helped hundreds of property managers across the country realize their dreams of successful business ownership. Now, as part of its effort to educate property managers and offer solutions to common roadblocks, PMI has released a new e-book, 7 Portfolio Multipliers for Property Management.

“The information contained in this ebook comes from working with 370 business owners over 14 years in the property management industry,” said Jeremiah Cundiff, Vice President of Operations at PMI. “It’s from learning firsthand what prevents businesses in this industry from growing and developing solutions to address those problems.”

In the book, Cundiff and his team identify the three types of property managers:

• Solo Property Manager: The business owner who knows how to do the “technical” work of property management, who works in the business day-to-day because they are the essentially the business.  The knowledge of how to operate the business resides in the memory of the Solo Property Manager
   
• Strategic Property Manager: The business owner who is successful at building a high performing team, which is a team that manages the “technical” work of property management because the property management business is operating with a fully integrated operating system.  The top 20% of property management business fall into this category.   
   
• Property Manager Stuck in Transition: This is where most property managers find themselves.  Unable to make the transition from being a Solo Property Manager to a Strategic Property Manager, the “Stuck In Transition” property manager is unable to break through to the next stage of growth and feel like they are spinning their wheels.

“This ebook is an introduction to the three types of property managers,” said Cundiff. “Part of it is bringing awareness to the business owner to help them understand where they are in regards to the marketplace as a whole, getting them to ask themselves the questions, ‘What type of property manager am I?’ and ‘What’s preventing me from moving my business to the next stage of growth?’”

The other part of the ebook’s mission, says Cundiff, is introducing the seven portfolio multipliers—which are the economic drivers of a property management business.  In other words, if a property manager optimizes the seven portfolio multipliers, they will be able to move their business from being “stuck in transition” to becoming a strategic property management business, which is a property management company operating in the top 20% of management companies nationally.   

According to PMI Founder and Chief Executive Officer Steve Hart, 2022 presents the perfect opportunity for property managers to focus on growth, as the brand anticipates a slowdown in the real estate sales market.

“With real estate rates as high as they were in 2021, it wasn’t great for property management,” said Hart. “A lot of our franchisees saw investment property owners selling. We’re expecting that to mellow out in 2022 where we won’t be losing as many management properties to owners who want to liquidate their portfolios. We're looking forward to the sales market slowing a bit and giving more emphasis to management and management opportunities.”

With so much opportunity in 2022, Cundiff says PMI wanted to provide an easily accessible and educational resource for property management companies at no cost. Property managers can also engage with PMI for a Portfolio Growth Assessment—also at no cost—allowing the brand to demonstrate how a franchise system could be the solution to some of the most pressing problems they’re experiencing as an independent business owner.

“It’s free education to get insight into how we approach property management businesses,” said Cundiff. “We can demonstrate our expertise and show property managers how PMI’s business system closes the gaps across seven key areas of the property management business model and open the door to explore a potential partnership with PMI. But even if property managers do the assessment alone without being a PMI franchisee, they’ll still get value out of it. When it’s all said and done, the focus is on the education.”

To download the free ebook, 7 Portfolio Multipliers for Property Management, click here.

The startup costs for a Property Management Inc. franchise range from $53,225 to $190,050. The franchise fee ranges from $45,000 to $190,050. To learn more about franchising with Property Management Inc., visit https://propertymanagementincfranchise.com/