6 Property Management Business Success Stories [2023]
Property management companies maintain a residence's status quo by representing the property owners. The property management company markets the property and collects rent on behalf of the owners.
With the demand for housing increasing annually, the property management business is lucrative. Property managers earn commissions and have an opportunity to maximize profits by working for as many clients as they can handle.
Here are some real life success stories of starting a property management business:
1. Casa Mia Coliving ($2.4M/year)
Eugenio Ferrante (from Singapore) started Casa Mia Coliving over 3 years ago.
We are Eugenio Ferrante and Ahmed Nizar, co-founders of Casa Mia Coliving.
Today, we have 150 bedrooms in central Singapore across popular neighborhoods such as River Valley, Tiong Bahru, and Orchard. We have reached an annualized revenue of $2.5M, and we’re growing fast!
2. Afford Anything ($126K/year)
Think you can’t invest in real estate because you love to travel? Think again. Here’s how one traveler renovates, manages and rents her investment property.
Paula Pant (from New York, NY, USA) started Afford Anything about 12 years ago.
- Paula quit her job in 2008 and went backpacking around Asia and Australia for the next two years.
- When she returned to the US in 2010 she wanted to do something independently and chose a career as a self-employed writer which brought her a six-figure income.
- She used this money to buy a three-unit house and put two of the units on rent.
- Paula saved money and kept investing in real estate for the next few years.
- Now, she lives her life, and travels the world while her real estate properties are earning money for her.
Get the full podcast on thefishow.com ➜
Learn more about starting a property management business:
Where to start?
-> How much does it cost to start a property management business?
-> Pros and cons of a property management business
Need inspiration?
-> Examples of established property management business
-> Marketing ideas for a property management business
-> Property management business slogans
-> Property management business names
Other resources
4. Meridith Baer ($20.4M/year)
The star of HGTV's 'Staged to Perfection' spent 18 years working as a screenwriter, but her career path was completely unscripted.
Meridith Baer (from Los Angeles, California, USA) started Meridith Baer about 25 years ago.
The star of HGTV's 'Staged to Perfection' spent 18 years working as a screenwriter, but her career path was completely unscripted.
- In 1998, Meredith Baer offered to renovate her friend's home that has been on the market unsold for over a year. With her own furniture and potted plants, she decorated the place and showed buyers how they can live in this space. The house was sold for $500,000 and with this, her journey as a home stager began.
- Soon brokers started reaching out to her and she was flooded with projects staging numerous properties. This is how her company Meridith Baer & Associates was born.
- In 2012, she renamed her company Meridith Baer Home.
- Her company touched new heights year after year and she expanded her business from California to Connecticut, New York, Florida, San Francisco, Las Vegas and to global locations like Cabo San Lucas.
Read the full story on entrepreneur.com ➜
5. Propster ($1.2M/year)
Subscribe: https://www.youtube.com/c/NathanLatkawatchPropster CEO Milan Zahradnik: We configure real estate... Visit them: www.propster.techSee more of Milan...
Milan Zahradnik, Klaus Kainrad, Andreas Quast, Isabelle Schall, and Tobias Puchner (from Wien, Wien, Austria) started Propster about 6 years ago.
In 2017 founders Milan Zahradnik, Klaus Kainrad, Andreas Quast, Isabelle Schall, and Tobias Puchner came together and started PROPSTER. It’s a cloud-based configuration platform with multiple features to optimize & manage real estate projects.
Through greater transparency, ongoing communication, and thorough documentation, they help property companies increase off-plan sales, improve efficiency, and give customers—such as buyers, tenants, and investors—a great purchasing experience.
This leading online customer platform, which has over 8,000 users and is currently active in five countries, is a market leader in Europe and helped start the Proptech revolution.
They are well on their way to becoming an indispensable tool for real estate developers and firms, with more than 200 projects in the residential and commercial sectors.
Watch the full video on youtube.com ➜
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