I have been managing residential rental properties since 1997. Though I handle quite a few properties in northeast Virginia Beach, I am currently expanding the scope of my business.
It in no secret that the real estate market is changing. Many of the mega teams that became popular a couple years ago are disbanding or shrinking in size due to decreased sales volume. I have noticed this in the local RE/MAX franchises as well.
If you are a sales agent that also manages rental property, are you considering any of the following options?:
1. Moving to a company that will not let you, as a sales agent, also handle rentals.
2. Retiring (or semi-retiring) and looking to decrease your rental headaches.
3. Finding property management is not your "cup of tea"?
If so, your rental management accounts have real value. I would be happy to take rental management accounts off your hands and provide your clients with excellent service. I would also like to offer a compensation package to you on a per account basis, upon successful transfer of your accounts.
Do you have any sale listings that you "know" will not sell anytime soon, maybe that the owner has even asked you about the possibility of having to rent the property. I will pay you (with your client's approval) a "finder's fee" for the referral of that client, if they enter into a property management agreement with me.
Are you a real estate broker with a small company looking to "sell the business"?
I am committed to establishing mutually beneficial, long term real estate relationships. I am a member of NARPM, and active in the property management professional community. Here is a link to a page featuring most of my rental properties: Mark's Rental Homes
Thanks for you time, -Mark
Mark A. Moore, ABR
REALTOR, Property Manager
4701 Columbus Street, Suite 200
Virginia Beach, VA 23462
Cell: (757) 409-5658
Fax to e-mail: (757) 282-6724 Email: mmoore@exis.net Website: http://www.markamoore.com/
Blogs: 
I own a small property management company in SOCAL and love your approach, if you have any referrals down our way please do not hesitate as I am happy to refer to you
Thank you, James. I will certainly keep you in mind. -Mark
Mark, What value do you put on a property management contract?
Hi Robert, Thanks for reading my post. Several variables would have to be looked at and a value would have to be determined. Obviously each management agreement provides a different amount of monthly management commissions, as well as obligations. One would not want to set up a new property management account for 2 remaining months of a lease term and then lose the property.
When assuming the management duties one also assumes some liabilities as well so it would not be taken lightly. The ideal scenario is for the current property manager to prepare the owner and tenant for a smooth transition. If there happens to be tension between the owner and current PM, or a if there is a problem tenant, the transition would be more difficult.
Say an agent approached me with 10 properties that generated $1000 / month in commission income. I would read the 10 management agreements and determine a value for each property's potential for the long term. Most of my fixed costs are the same whether I manage 10 or 30 properties. I am looking to build more economies of scale in my business for 2009, and re-focus on a niche that I enjoy and that is once again expanding. -Mark