Property Management, Inc. is successfully spreading throughout the United States, and now it has set its sights on development across Southern California.
The brand already has a solid presence of property managers in cities throughout Southern California, particularly along the coast, and it is seeking to further strengthen its presence in the region. The area’s high-tourist concentrations and real estate values are just two reasons Property Management, Inc. wants to get in on the West Coast action.
“Southern California is one of the most prosperous markets in the world,” Property Management, Inc. President Steven Hart said. “It’s no different for property management. Property values in Southern California are higher and property management is very lucrative in that part of the United States.”
Property Management, Inc. has historically done extremely well in cities, states and regions with large coastal areas, including Florida, Houston and New England, as well as places that see high volumes of vacationers.
“In Orlando, for example, we have five franchisees managing short term vacation rentals, and they are very successful,” Property Management, Inc. Senior Vice President Danessa Itaya said. “Property management within beach cities can be especially lucrative, and we want to take advantage of what the Southern California market has to offer. From a vacation standpoint, Southern California is huge for short-term vacation rentals. Plus, it’s not just about proximity to the ocean. There are cities in the region filled with wineries and other huge tourist draws.”
According to Zillow, the average home value in Los Angeles is $629,900 and $572,100 in San Diego. As of January 2019, the real estate website Redfin gives Los Angeles and San Diego scores of 78 percent and 79 percent, respectively, in terms of competitiveness. Property Management, Inc. prides itself on providing franchisees with a solid, proven system that can succeed in any market.
“We’re actively targeting the Southern California area and we’re looking to pick up a group of professionals to train and work with to build a strong PMI presence in the market,” Itaya said.
What makes PMI such a great opportunity in Southern California is the business model. In addition to residential and commercial property management, PMI also offers Association Management, and Short Term Vacation Rentals. With Southern California not only being a great vacation destination, it is also an area with high home values, strong commercial real estate needs, and ever growing Home Owner/Community associations.
“We pride ourselves on being able to provide our franchisees with a variety of solutions,” Hart said. “Our franchisees can take advantage of this by providing flexible services. Real estate markets often fluctuate, and when that happens, we want to make sure that our franchisees are set up for success no matter where they’re based. We’re especially confident that they’ll be able to thrive in Southern California.”