Residential Property Management Company
Manage single-family and multi-family rental properties for landlords
Overview
Property management companies charge 8-12% of monthly rent for full-service management.
Managing 50-200 doors generates $120,000-$600,000 annually with 60-75% margins after staff, software, and operational costs.
In 2025, landlords increasingly hire professional property managers handling tenant screening, rent collection, maintenance, inspections, and legal compliance.
Services include tenant marketing and screening, lease execution and renewals, monthly rent collection and accounting, maintenance coordination and vendor management, property inspections, handling tenant issues and complaints, evictions when necessary, and financial reporting to owners.
Successful property managers build systems and processes for efficiency, maintain strong vendor networks (plumbers, electricians, handymen), use property management software (Buildium, AppFolio, Rent Manager), respond quickly to tenant and owner needs, and stay current on landlord-tenant laws.
Most profitable managing 75+ doors with staff.
Can start solo managing 10-30 doors.
Residential more stable than commercial.
Revenue per door: single-family $100-$300 monthly, multi-family $75-$150 per unit monthly.
Marketing through real estate investors, landlord associations, and online presence.
Required Skills
- Property Management
- Tenant Relations
- Maintenance Coordination
- Landlord-Tenant Law
- Vendor Management
- Financial Management
Pros and Cons
Pros
- Recurring monthly revenue from managed properties
- Scalable with property management software and staff
- Growing rental market as homeownership declines
- Multiple revenue streams (management, leasing, maintenance)
- Can build to sellable business
Cons
- Dealing with difficult tenants and emergency calls
- Liability for property issues and tenant disputes
- Need proper licensing in most states
- Slow growth building property portfolio
- Work evenings and weekends for emergencies
How to Get Started
- Get property management license (required in most states)
- Invest in property management software (Buildium, AppFolio)
- Build vendor network (contractors, plumbers, electricians)
- Start with 10-30 doors (friends, family, small investors)
- Develop systems for tenant screening and maintenance
- Market to real estate investors and landlords
- Scale to 75-200+ doors with staff
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