September 19, 2022 by 0 comments
Property Management and Maintenance, Sales, and Rentals
Location: Tampa Bay Area, Pinellas, Polk
Industry: Real Estate and Rental and Leasing
Listing ID: 890700184
Listing Status: New
PROPERTY MANAGEMENT AND MAINTENANCE, SALES AND RENTALS- This is a very successful Florida-licensed real estate business providing sales, rental leasing and complete rental property management and maintenance services for the Tampa Bay area. It is a well-established business of 25 years with a record of consistent profitability. It manages several hundred properties consisting of single-family homes (none in HOA’s) as well as multi-unit properties. Its multiple revenue streams are derived from sales commissions, rental leasing commissions, fees for property management of rentals & vacant properties and maintenance income (41% of revenue in 2021). This is a turn-key business that has a 100% absentee owner who is completely hands off in the operation of the business. It could use an enthusiastic, imaginative new owner or team to help it grow through some additional creative marketing and hands-on management.
The business has a staff of six (6) including the General Manager and Qualifying Broker. The qualifying broker and employees are all willing to stay.The buyer of this business should have good management, marketing, and people skills. The owner, or an employee, must be a Florida-licensed Real Estate Broker and ‘Qualifying Broker’. In addition, any employee that is engaged in the sales or renting of properties must have a Florida Real Estate Sales or Broker license.
Marketing: The business does little advertising or do any marketing other than its web site (which need updating). Their current business is primarily generated by an established client base and word-of-mouth-referrals.
Operations, Data Base,Services and Income: Utilizes QuickBooks a cloud-based Property Management software for it rental/leasing operations.
Multiple income sources: (1) property sales commissions, (2) fees for one-time leasing of rental properties, (3) leasing, managing and maintaining rental properties and (4) maintaining vacant properties. Facility: The business operates from a leased 2,500 sq. ft. space in a very nice multi-office complex. The lease is $3,828 per month plus electric and trash and expires 11/30/23. The lease has an option to renew.
The Owner has relocated out-of-state. Years Established: Twenty-Five (25) years.
Down Payment: $500,000
Total Sales: $456,296
Cash Flow: $149,740
FFE Included: Yes
Year Established: 1997
Days & Hours of Operation: Monday - Friday 8:30am-5:00pm; Maintenance 24/7
Owner Hours Per Week: 0
Monthly Rent: $3,828
Square Footage: 2500
Reason For Sale: Owner has relocated out of state
Owner has relocated out of state
Training & Support: Owner will train for 4 weeks, no cost.
Owner will train for 4 weeks, no cost.