MergerPlace

Broward Property Management Firm

Florida (Broward)


  • Asking Price: $345,000
  • Gross Income: $120,875
  • Cash Flow: $75,934
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $13,000
  • Listing ID: #205384
  • Established: 2001
  • Employees: 1 FT/ 1 PT

Business Description

Opportunity to acquire Property Management Company, which provides a wide range of property management services for associations since 2001. This company was able to retain clients on average of 10 years with majority of the contracts having 3 years contracts. Active contracts include three clients, totaling up to 320 Condo/HOA units. Business has excellent growth potential. The company engages an experienced C.P.A. firm for maintaining financial transactions and reporting.


Business Details

Primary Business Category: Services - Other Services
Location: Florida
County: Broward

Company Information

Year Established: 2001
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 1 FT/ 1 PT

Financial Information

Asking Price: $345,000
Gross Revenue: $120,875
Cash Flow: $75,934
FF&E: $13,000
Seller Financing Available: No

Property Information

Facilities:

The company is leasing a very nice 3-room office space in the heart of Coral Springs with the lease ending in 2019 and option to renew – full office set up is available for a new owner. Current clients are located in Ft Lauderdale, Corals Springs and Boynton Beach.

Growth & expansion opportunities:

Great potential for growth with numerous existing Condo Associations and HOAs, as well as many being built. Many such clients shy away from big property management companies and prefer small boutique firms because they want to get personalized attention and service. This is a growing niche where this firm shines. A new buyer may capitalize on the strong client base and by utilizing direct mail, referral groups and social media can increase the market share of this firm exponentially.

Competition:

While there are many property management firms in the state of Florida, one will be hard-pressed to find a small personalized company with such attention to detail and excellent client relations like this, which has been in business for eighteen years. The longevity in business and excellent reputation make this property management next to impossible to find.

Reason for selling:

Since 2001. Retained associations an average of 10 years. Majority of contracts are 3 years guarantee contracts. Looking to retire.

Support & Training:

Will train for 3 weeks @ no cost. This company is a Management Service tailored to each individual Association. In taking care of their home and community the Homeowner and Association is afforded the best the industry has to offer. To that end they find that a growing number of high-end associations are choosing to separate management and finances. They simply manage their Association clients. They bring to their clients a very experienced Association C.P.A. firm to take care of the Community finances. They as Management will oversee any finance service that the client should pick if there is another already in place. They also bring to the clients three or more closed bids for all services, as the Board customarily picks the vendors they will have management oversee. These bids will also give Management as well as the Board and Budget Committee fresh numbers to work with concerning the Associations Budget and Reserves. Company CAB and individual CAM state licenses are required.

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Business Listed By:

Anton Joro

Murphy Business Brokers