On Demand Property Management – Business Idea

The business offering
Real Nova Scotia Property Management Services is a full service Rental Management and Real Estate service company.  RNS offers a range of property management services including Pay as you Go Management, Leasing, Marketing services, preventative maintenance, contact negotiation, and service coordination.

The business model & sources of revenue

Customers pay $49/Month/Unit for an account with RNS. Together with the property owner, a RNS agent custom designs the management profile for each unit.  This profile is broken into two categories of services.  Virtual and Onsite.  Virtual services are handled via email and telephone and are billed by the minute at $2.50 to a maximum of $100.  Onsite and Tenant Leasing services are billed at $35 / hr on an as needed basis.

Virtual Services Include:

Tenant Calls

Coordination of trade services
Marketing Inquiries

Schedule Showings

Online Ad Placement

Reference Checking

Onsite Services Include:
Maintenance Management
Inspection Services
Exterior Maintenance
Cleaning
Painting
Property Showings
Lease Signings

Target Customers / Market Size

The target customer is the property owner of an investment property with 1 – 8 units who is not interested in managing the property themselves but is interested in protecting their investment.

Market SizeCompetitive environment

TBD

Unique and compelling competitive advantage
There are a number of unique and compelling competitive advantages.  First is an on-demand pricing model. This approach ensures that the property owner is not paying for management services unless they are needed.  The custom management profile also allows the property owner complete flexibility to customize the level of management on a unit by unit basis.  Another advantage is the use of cutting edge communication technology to maximize efficiency and minimize overhead.

Sales and marketing strategy
Blog?
Facebook?
Twitter?
Tenant Finder Contest?
How do you get tenants to tell property owners about the service?

Lead Generation

1. Find Multi-Unit Property Sales on Filogix, Look up the owner on Property online

2. Send info to Buyer Agent of Properties that have recently sold asking for a referral

3. Advertise at the universities with a referral contest “Win a new iPod Touch”

4. Kijiji Ad

Commission Structure

Base Salary $2500/month + Commission.  Minimum 6 units / month

Commission
$200 / Unit + $10 / Month recurring for every month the account is active.
$50 / Unit  Annual Renewal Commission.

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