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It seems like there's a market opportunity to create a property management company that operates on a Wal-Mart or McDonalds scale. Franchises all over the count
by jpm_sd 9y ago
It seems like there's a market opportunity to create a property management company that operates on a Wal-Mart or McDonalds scale. Franchises all over the country, consistent architectural design for apartments, consistent management and maintenance. I'm surprised something like this doesn't exist already.
- jzymbaluk 9y agoThat's an interesting thought. The only reason I can think of that such a thing might not exist is that each state and city might have a unique set of regulations and licensing, which would make it difficult to operate nationally.
- closeparen 9y agoEquity Residential, Avalon Communities, Essex Property Trust, etc. They are cold profit-maximizes at lease renewal, but very good at maintenance and very easy to move into. Make an appointment, see the place, sign the papers, get the keys. No “wait and see which one of the 50 applicants I pick,” low security deposit ($500-$1000 vs $8000+ for a mom and pop), helpful onsite staff.
- astura 9y agoCorrect me if I'm wrong but isn't this basically what REITs do minus the franchising? (Walmart doesn't franchise either) There's also large privately own property management/real estate companies, I lived in a complex owned by one for 4 years. They own and operate properties in 25 states.
- ABCLAW 9y agoREITs don't necessarily run the building management or development sides of the business. Normally these functions are bid out to developers and property management companies.