One of the biggest questions at the front of your mind, when you're considering purchasing a property management franchise, is probably 'What does a typical day look like?' In property management, it is more easily described as a recurring monthly cycle.
A SIMPLE OVERVIEW OF YOUR MONTH AS A FRANCHISEE WOULD INCLUDE:
- Market upcoming and current vacancies
- Inspect and make-ready current vacancies
- Collection of rents
- Track delinquent rents and post applicable notices
- Coordinate maintenance issues
- Process owner statements
Note: This is just a general overview of your month to give you an idea of what you can expect.
AS A PROPERTY MANAGEMENT FRANCHISE OWNER YOU CAN ALSO EXPECT TO:
- Work hard for the first few years before reaping the rewards of your efforts
- Be communicating with the Corporate office for direction and support
- Marketing and networking to secure new investors and tenants
- Hiring and Managing Staff
- Review profit and loss statements
- Attend annual conferences/meetups
- Enjoy the benefits of having a network of other franchisees for support :)
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