MergerPlace

Profitable Property Management Co.-Huge

North Carolina (Orange)


  • Asking Price: $99,500
  • Gross Income: $232,058
  • Cash Flow: $61,122
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $6,000
  • Listing ID: #214366
  • Established: 2007
  • Employees: 1 FT / 3 PT

Business Description

This Property Management company is based in a very desirable part of the Research Triangle region of NC. The business was created over 12 years ago by three long time local residents. The staff has been expanded to include a manager and 3 part-time employees, including a Finance Manager, Office Manager & Field Manager.

This company provides complete property management services to Home Owner Associations (HOAs) , including accounting, for single-family homes, town homes and condos. They provide cutting edge technology, including HOA website design and support, and applications for HOA management, including applications for iPhones and Android phones. The company has built complex financial models for clients.


Business Details

Primary Business Category: Real Estate and Rental and Leasing
Location: North Carolina
County: Orange

Company Information

Year Established: 2007
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 1 FT / 3 PT

Financial Information

Asking Price: $99,500
Gross Revenue: $232,058
Cash Flow: $61,122
FF&E: $6,000
Seller Financing Available: Yes

Property Information

Facilities:

The small business office (could be home based) is located in a desirable Research Triangle town and is staffed Monday through Friday (and by appointment). Additionally, they offer a 24 hour answering service to handle after emergency calls promptly.

Growth & expansion opportunities:

The Company has been run, more as a "labor of love", than a "business" (The owners reside within the HOAs they manage). A minimal amount of marketing and community out reach should bring consistent future growth. Along with responding positively to the 6-8 annual engagement requests that the company receives!

Competition:

There is some competition in their market niche. However, with their reputation for outstanding customer service the company receives 6-8 requests/year for additional engagements, which they have consistently turned down. Property management involves the processes, systems and manpower required to manage the life cycle of rental housing properties, including acquisition, control, accountability, responsibility, maintenance, utilization and disposition. There are many facets to this industry and profession. Over the past five years, the Property Management in the US industry has grown by 4.0% to reach revenue of $81 billion in 2018. In the same time frame, the number of businesses has grown by 3.9% and the number of employees has grown by 2.9%.

Reason for selling:

The business owner has a demanding full time career and no longer has the time, energy, or motivation to take this business to the next level.

Support & Training:

Will train for 4 weeks @ no cost Complete property management services for HOAs, no special license required (Real Estate license not required but recommended for growth opportunities).

Contact Business Seller

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Business Listed By:

Don Emmett

Murphy Business Brokers