As the owner of a property management company, you’ve been trained to think you have to grow by increasing the number of doors you manage. I get questions a lot from people who want to grow their company. However, growing your business isn’t always about doubling doors.

Grow My Company: Increase Revenue or Increase Doors

When people want to talk about growing their business, I always ask what they want to do. Think about this for yourself: what kind of lifestyle do you want to have? Instead of thinking about doors, think about revenue and your net profit. You can earn more from your current client base, and you can increase your revenues without struggling to take on more doors.

Increase Revenue: Value Added Services

To me, growing revenue was always more important than the number of doors I managed. I always had a small boutique company, but I grew 20 percent every year with value added services. If you can manage to provide excellent customer service, your clients will be happy to pay extra for what you provide. You can offer them more services, and you won’t have to grow exponentially and be big. Huge growth didn’t fit in my marketplace, so I was quick to explore these other options to growing a property management business.

Grow your revenue, and think about what you want for your life. Think about what kind of work-life balance you want, and what sort of profits you need.

If you’d like some more information about growing your business, please contact us at LandlordSource. We can talk about growing your doors and growing your revenue.

Kathleen Richards, is the owner of LandlordSource and The Property Management Coach.  With her 12 years as a broker/owner of a property management company she speaks from experience. Kathleen authored, Property Management A-Z and teaches regularly at community colleges and conferences on property management topics. She is active in her field and holds professional designations as Master Property Manager (MPM®) and Residential Management Professional (RMP®) and her company held the coveted, Certified Residential Management  Company (CRMC®) designation from NARPM®. She is currently a National Instructor for NARPM® and is honored to be sharing best practices with other NARPM®  professionals.  Kathleen has served at the local and state level on the boards for NARPM® (National Association of Residential Property Managers).
Disclaimer: LandlordSource does not represent the article content in this newsletter as legal advice. It is shared information only and up to the reader to use this information responsibly, seeking legal advice as necessary to their business.
LandlordSource provides products and systems to simplify your life and The Property Management Coach (aka: me) provides the support to help you achieve your goals.