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Copyright ©2014 NARPM®(rev. 10/14). Management Businesses Are Started To: Copyright ©2014 NARPM®(rev. 10/14)

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Presentation on theme: "Copyright ©2014 NARPM®(rev. 10/14). Management Businesses Are Started To: Copyright ©2014 NARPM®(rev. 10/14)"— Presentation transcript:

1 Copyright ©2014 NARPM®(rev. 10/14)

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3 Management Businesses Are Started To: Copyright ©2014 NARPM®(rev. 10/14)

4 Management Businesses Are Started To: Copyright ©2014 NARPM®(rev. 10/14)

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6 Getting Started: Four Business Models Copyright ©2014 NARPM®(rev. 10/14)

7 Structure Consult an attorney and accountant Corporations

8 Perspectives on Property Manager Copyright ©2014 NARPM®(rev. 10/14)

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10 Developing your Team Broker Attorney Insurance agent Accountant NARPM® Members Copyright ©2014 NARPM®(rev. 10/14)

11 Developing your Team IT Staff Banker Mentor Vendors Eviction Services Tenant Screening Copyright ©2014 NARPM®(rev. 10/14)

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13 An investment in knowledge pays the best interest. - Benjamin Franklin Copyright ©2014 NARPM®(rev. 10/14)

14 Trade Associations and Designations RMP® MPM® CRMC® CSS Institute of Real Estate Management® - Certified Property Manager (CPM®) - Accredited Residential Manager (ARM®) Copyright ©2014 NARPM®(rev. 10/14)

15 It started with… $14 Million $6.5 Million$1.9 Million $1.1 Million Copyright ©2014 NARPM®(rev. 10/14)

16 Options for Addressing Liability Issues Customer Service Buy Your Way Out Insurance Copyright ©2014 NARPM®(rev. 10/14)

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18 Insurance for You and Your Company General liability Workman’s compensation Errors and Omissions Wrongful termination insurance Lockbox coverage Discriminationcoverage Pollutants, lead-based paint Landlord coverage Umbrella liability Renters' Copyright ©2014 NARPM®(rev. 10/14)

19 Legal Foundation of Your Company Foundation Corner Stones Building Blocks Operational Structure Copyright ©2014 NARPM®(rev. 10/14)

20 Operating Systems Copyright ©2014 NARPM®(rev. 10/14)

21 Licenses Needed for Property Management Real estate license Salesperson’s license No license required in some states Broker’s license Property manager’s license Copyright ©2014 NARPM®(rev. 10/14)

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23 Protected Classes In Washington State Copyright ©2014 NARPM®(rev. 10/14)

24 State and Local Laws Copyright ©2014 NARPM®(rev. 10/14)

25 Organizing Policies, Forms and Letters Copyright ©2014 NARPM®(rev. 10/14)

26 Property Management Life Cycle Marketing for new owners Signing up the new owner Marketing the property Signing up the resident Ongoing management Move-outs Separation Rent recovery Copyright ©2014 NARPM®(rev. 10/14)

27 Marketing for Owners PoliciesPolicies Flyer formatFlyer format Take NARPM® marketing courseTake NARPM® marketing course Copyright ©2014 NARPM®(rev. 10/14)

28 Market the Property Copyright ©2014 NARPM®(rev. 10/14)

29 Managing the Money Rent collections Balancing Owner statements Trust Account Payment methods Copyright ©2014 NARPM®(rev. 10/14)

30 Success always occurs in private; failure in full view. Truism Copyright ©2014 NARPM®(rev. 10/14)

31 Setting Goals for Growth Copyright ©2014 NARPM®(rev. 10/14)


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