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Property management is about the operation, maintenance, and control of a real estate or physical property. These properties may include commercial, residential, and land real estate. If you do property management, you will have to monitor and care for the property of individuals or businesses.
In that case, your client will require you to demonstrate professionalism and accountability before committing a property to your care. The reason is that a real estate investor desires a satisfactory income from his/her property without the inconveniences of having to control and manage the property in person.
One of the ways to convince a prospective client about your professionalism and managerial ability is by sending them a reliable property management proposal. The proposal is a document that explains what you are proposing to a client and how you planned to manage their properties. Because property management requires a lot of activities, you need to include processes, plans, and human resources that will be required to manage the lifecycle of the assets of your client.
All investors in real estate have the following concern about their properties. They need a manager that will do the following:
So, you should bear in mind the goals above and considerations of a prospective client when writing your proposal. Depending on the nature of what the client wants, you may define control, acquisition, utilization, maintenance, and disposition of property in your property management proposal.
Before writing and sending your proposal, it would be helpful if you speak with your proposed client to gather information about the services required. This will help you know the essential details to prepare a convincing proposal. Besides, you build property management relationships when you talk to prospective clients in person.
See below the essential elements that must not miss from your property management proposal if it must be compelling.
Besides managing the entire property of a person or organization, property management may include managing facility management like electricity, waste disposal management, water, lifer, etc. You may also include the security and management of tax to the government.
So, if you are preparing a property management proposal, you should take note of important details about the service that your prospective clients desire.
Depending on the scope of the service, the following sections should be included in your proposal.
The proposed client would like to know the company they are dealing with to start a deal. Hence, your property management proposal should start with your personal information like business name, mailing address, contact address, website, and phone number. In addition, include the personal data of the client.
Next is a list of the property management services the customer wants you to provide. Give a brief explanation of what you offer in simple terms like property maintenance, waste management, electricity, water, security, and tax.
Every client wants to know what they will benefit by hiring you to manage their properties. So, you should include in your property management proposal what your client will gain by choosing you. This may include preservation of the value of an asset, good maintenance, accountability, freedom to the client, the security of property, fewer legal problems, good rental management if applicable, among others.
This section of your property management proposal should be explained in a clear term. This is not to say other sections of the document should be ambiguous. But, ensure the proposed client understands your charges for each of the services you render.
The property management proposal should contain the terms and conditions attached to your service. It may include retainer agreement, preferred payment method, and window, among others.