Becoming a Property Manager

[Randy D.]

Hi, I’m just starting out in Real Estate inventing. I live near York, Pennsylvania.

I have been doing general construction for 15 years. My wife and I flipped our first property and are planning to rent it as soon as the city reopens their permit dept.

I work with a lot of insurance claims and deal with a lot of large scale property managers with 1,000s of properties.

I think I have what it takes to be a property manager and also offer full service maintenance. I could essentially pay myself for work done out of the rent, on-top of the 8-12% fee.

I started looking into the local laws for starting a SMALL property management company. There seems to be a lot of overlap with real estate sales. You have to become a licensed Broker. 240 hours of classes. ..accumulating a total of 200 points under a system established by the Commonwealth which designates points for certain transactions. Seems like a lot of unnecessary hoops to jump through just to manage a rental property.

I don't want to sell real estate, I do plan to advertise it but not on MLS. Do I need to be a broker just to post a for Rent sign in PA? Help !

Is anyone here a small property manager ? Is it even a viable strategy to be small scale PM or is the money in the mass numbers ? Too big of a risk for little return?

Thank you

[Tanvir Sattar]

@Randy D for revenue industry standard is charging a flat fee (see chart below) or a consistent percentage of the monthly rent(8-10%).