Property Management Business Plan Template
Did you know that a property management business plan template can help save you time and money? A template saves you time because it guides you through a well-designed process that addresses the major issues in a real-estate property management plan. Why do I say this? Because with a template, you are given sample pages you can compare and contrast. You see, sample templates are a way for you to see how a property management business plan template will look like. This allows you to see how the document will likely end up and if it is indeed as convenient as you thought.
Please scroll down to see sample pages of what a property management business plan template will contain. These include: Sample Mission Statement, Contact Person(s), Executive Summary, History and Position(s), Company History, and Position(s), Revenue forecast and Actuals, Target Amount, and Other Financial Data. Now, you might be asking yourself how much each of these pages will take up. It is simple – if you wanted to, you could simply use your printer to print each of these pages. But using a template is so much more convenient and less time consuming.
Let’s go over each section one at a time. The Mission Statement provides a statement of purpose that clearly lays out the property management goals and objectives. This section should be used before any other sections. Also, the Contact Person(s) should be included. Ideally, they will have previous experience in the industry and be able to speak authoritatively about the plans you seek.
The Executive Summary should be used here as well. Here, you will gather all the information you think is important and necessary to present to the board. Remember, you are providing the company with an overview of what the property management business is about. They will then need to determine if this is something they want to pursue. If not, it is best to list the reasons why. This is also the section where you state the amount of money that will be required and how this will be obtained.
The History and Position(s) provide a short history of the company. These sections also list the current management team. You can choose to add new positions at this point or explain why the current position(s) are no longer being utilized. A Historical summary includes the direction the business has taken, if there are changes, and what these changes have been. As you can see, it is a basic summary that is necessary to get any board to consider your plan.
The Actuals provides data on the property you would like to manage. You can use tables to list the data or use an excel spreadsheet to do so. It should be noted that you should either use actual sales data or use an external source that provides this data.
Finally, the Notes and Discussion are a section that will include any notes that have been made during the planning stages. It is a good idea to write down everything that you feel the need to as this will make it easier for you to review in the future. You should also create a table to track the discussion as well as a graph to display the data that is generated during the process.
While a property management business plan template can help you get started, you must take the time to create your own. You need to know exactly what your goals are as well as how you plan to reach them. Take the time to properly prepare your plan. When you do, you will find that it can be a very useful tool for you.