This successful profitable Northern Ontario Property Management Company has a wide variety of clients and a reputation for honest, reliable service. Clients include owners of commercial and residential buildings plus individual locations. The core team of full-time employees includes a GM (retiring) an office manager plus administrative, maintenance/repair and cleaning staff. An additional team of part-time staff are scheduled as required. Customers pay both a monthly management fee and additional fees for specific maintenance and tenant management services.
The company has excellent growth potential. This business would suit an owner/operator who wanted manage the current business and take advantage of growth opportunities. Alternatively, a buyer with a new GM would be equally effective. The seller will consider VTB financing at the listing price for a qualified purchaser.
Note Seller's Discretionary Earnings shown for 2017 is after the GM was paid $52,500 in partial year salary but before GM and Owner dividends in 2017. So 2017 SDE before any GM/Owner salary compensation was $160K. Total GM compensation for 2018 is budgeted at $70K plus $40K in GM/Owner dividends.
The company operates out of a rented office facility.
Excellent opportunity for growth. There is high demand for these services.
Few competitors with a high quality reputation serving this client base in this geography.
The owner is retiring.
Will train for 10 weeks @ no cost. The business offers a full suite of property management services including tenant management, grounds and facilities management, contract oversight plus complaint management along with repairs and upkeep. The company has a solid reputation for quality trustworthy staff and excellent service.