Founded since 2002, this is an established property management company in the north end. The portfolio of properties managed includes approximately 100 units of single-family homes, condos and small apartments, one retail building, and one HOA (homeowner’s association). The staffing consists of one part-time bookkeeper. The owner works 40 hours a week and does all the property management. After 17 years of running the business, the owner is ready to retire. This is a rare opportunity for an ambitious property manager to take over a portfolio of properties, go into business for himself or herself, and grow it to the next level. In order to operate this business, the buyer will need to possess a Managing Broker’s license with the Washington State Department of Real Estate Licensing or hire someone who has this license to be the designated broker.
The company leases an office space for $1,650 per month. The lease is on month-to-month. The furniture, fixtures, and equipment that come with the sale include computers, copier, chairs, desks, filing cabinets, etc. The property management software Appfolio is leased.
Competition / Market Pros & Cons
The company is well-established and positioned in an area that is experiencing a lot of population growth. The seller is willing to finance the rest if the buyer puts $30,000 down, making this an attractive acquisition opportunity.
Growth and Expansion Pros & Cons
At retirement age, the owner does not do any marketing and has not been pursuing new business. A new owner with fresh energy can focus on marketing and grow this business to the next level.
Support / Training Available
Seller is willing to train. Details negotiable.
Reason for Selling
Seller Will Provide?
Buyer puts down $30,000. Seller willing to finance the rest with terms to be negotiated.