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The Property Management Show
How to Set Pricing for Your Property Management Company: Featuring Kathleen, The Property Management Coach
Aug 10, 2016
Property management guru Kathleen Richards discusses strategic pricing approaches, tiered pricing strategies, challenges of pet owners, and value-added services in property management.
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Quick takeaways
- Property management companies can consider different pricing strategies like flat fees or percentage-based models to create competitive advantage.
- Implementing tiered pricing structures tailored to local market demands and offering additional services can enhance client satisfaction and business growth.
Deep dives
Setting Up Pricing for a Property Management Company
When establishing pricing for a property management company, new business owners can consider various approaches. They can observe competitors' pricing models to differentiate themselves or opt for a flat fee structure to quickly build their business, ensuring not to overcommit to services. Different pricing strategies include percentage-based fees, hybrid models combining monthly management percentages with additional service charges, and adjusting prices when taking over an existing company to gradually introduce changes.
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