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I recently started my own business in the Property Management Industry. I am currently a Realtor and I have previous Property Management experienced, so I feel very comfortable in the day to day operations of the business. However I am very curious to know the pitfalls other business owners have experienced. What would you do differently? How long have you owned your company and what do you do? Thank you!

I don’t know a thing about property management, per se, but I would imagine that the biggest pitfall in that business would be the same as any other…..

You can know everything there is to know about property management, but if you don’t follow sound business practices, you will fail. Pure and simple.

So, you have to have a good head for income, expense, marketing and customer/client relations. Think things through and you’ll be ahead of the game.
Run a conservative operation until you have lots of experience with it on your own, and you’ll do great.

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