Selling a Property Management Company for top dollar
Jeff, the owner of Business Broker Colorado, has sold many different types of Property Management companies from Ski Resort Towns with an emphasis on rentals to the Front Range of Colorado where they tend to have more of an emphasis on maintenance. Property Management is Jeff’s favorite type of business to represent because of the high multiples they sell for.
100% success rate in selling every Property Management company.
Jeff has a 100% success rate in selling every Property Management listing he has represented with several selling above the listing price. References are available. Most were under a Letter of Intent within 30 days. He also is experienced at getting a higher sales price compared to the earnings than almost all other types of businesses. This is because he knows how to market them and has an extensive list of buyers who have shown interest in these companies in the past.
The high multiples on earnings are because of the high percentage of recurring revenues combined with long-term property owner/HOA relationships. This also means that the business will be the same the day after the closing as it was the day before which buyers love.
Also, they tend to build strong relationships with their customers and often have a 5-star Google rating which helps the business owner continue to add more units through referrals and advertising.
The maintenance side of the business has gotten easier over the last two years with most HOA/Unit owner meetings taking place using Zoom or Microsoft Teams. The only in-person meetings are typically adding employees or meeting with potential new customers.
Property Management Companies work with Homeowners Associations providing indoor/outdoor maintenance, cleaning, emergency services, and then separately charge for snow removal or repairs or managing large repairs. Many HOA’s add more buildings and units to their portfolios by building or buying them which helps the Property Management Company also.
Jeff has long-term banking contacts that will help buyers get the funds they need to help buy the business. This will help make the process move more smoothly and get to a closing quickly. Business Broker Colorado is a 5 Star Google-rated business brokerage.
No-Cost or Obligation Business Valuation for Your Company
We aren’t like other business brokerages. We never ask for any up-front fees or retainers. Our company only gets paid when you get paid because that is the way it should always be. Jeff Eisnaugle has a very high success rate, successfully completing the sale of over 85% of the companies he has represented, substantially higher than the industry average of approximately 25%.
When it comes to selling your business in Colorado, BBC is here to help you. Jeff seeks to make your preparation and sales process as effective and efficient as possible, which is why he offers a current business valuation to every business owner free of charge. Anyone interested in receiving a free valuation at Businessbrokercolorado.com or additional information regarding the potential sale of their business, should contact Jeff today.