The One Book You Need

What resource should you buy immediately? There are many books written about property management, but the single book you need is The Unofficial Guide to Managing Rental Property by Melissa Prandi, MPM. Ms. Prandi is a past national president of the National Association of Residential Property Managers(NARPM). ( Please know I do not receive any portion of book sales.)

Finally, join NARPM (800-782-3452). Residential property management is an exciting area of real estate practice that offers great opportunities. Take advantage of the new resources and start your new business today.
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Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

One Thing Is Common To All

How to obtain new clients is always key to any new business. The possibilities are beyond the limits of this article. However, let's suggest a few: a great web-site, networking with other REALTORS who only do sales, direct mailing to non-owner occupied properties and creating a farm area. There are pros and cons to each of these. One thing is common to all of them---don't expect it to happen overnight. Your competition for these new clients is fierce. In the Denver metro area there are over 250 firms specializing in residential property management.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

Limiting Your Potential

When building a property management business many property managers limit themselves to a local geographic area. It really comes down to travel time to a given unit, say no more than 15 minutes one way. However, such limits may reduce your potential client market. A business decision you will need to make.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

A Horse Of Another Color

Managing apartment complexes and homeowner associations is a horse of another color. Both of these residential types of properties require different knowledge and are more complex. Some property managers do handle all of these various types of properties. However, unless you have good background experience, I would recommend not undertaking the above two at the outset of your new property management business.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

Watching Business Grow

As I limited my business to single-family homes it turned out to be a great place to start. As business grew, so did opportunities to manage small multi-units, condos and town homes. These other residential properties can be managed in much the same way as single-family detached homes.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

What Type Of Properties To Manage?

The type of properties you seek to manage has a dramatic impact on your overall business plan. Considerations for Residential Property Management (RPM) could include: single-family homes, small multi-units (duplex,etc.), condominiums, town homes, apartment complexes and Home Owner Associations (HOA's).When I first undertook RPM, I limited my efforts to single-family homes on the theory such properties would always have strong rental potential.


Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

So You Want To Manage Residential Property!

Times in the sales business are tough. So you are thinking about changing the nature of your business. As in the case of sales, there are basic decisions that must be made at the outset. What type of properties are you going to manage? Where are these properties going to be located? How will you find potential clients? What type of resource material will you need?

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.