Property Manager

2 Property Manager Success Stories [2024]

Pat Walls

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Updated: October 6th, 2024

A property manager is responsible for the day-to-day operations of a property. This can include tasks such as marketing and leasing units, collecting rent, and maintaining the property.

To succeed in this business, you’ll need to have strong people skills and be comfortable working with various clients. You’ll also need to be organized and detail-oriented. If you have these skills, starting your own property management business can be a great way to make money in the real estate industry.

The average property manager's salary in the United States is $54,183/year. The low-end range falls between 36k at 12% below to 79K+, which represents 24%.

With the recent craze of people wanting to invest in real estate, property management has never been more popular than now. Property managers often have the opportunity to work from home, making it an excellent option for those who want the flexibility of being their own boss.

The property management business is a great way to make money if you’re familiar with the real estate market and have strong people skills. You can make a lot of money by managing properties for investors.

In this list, you'll find real-world property manager success stories and very profitable examples of starting a property manager that makes money.

1. Casa Mia Coliving ($2.4M/year)

Eugenio and Ahmed, co-founders of Casa Mia Coliving, came up with the idea for their business after experiencing challenges with finding suitable accommodations while working in different countries. They saw the potential for coliving and decided to create a sustainable and modern coliving company in Singapore. Through their innovative approach and effective marketing strategies, Casa Mia Coliving has reached an annual revenue of $2.5 million and aims to double their business this year while launching in a second city.

How much money it makes: $2.4M/year
How many people on the team: 7

We Started A $2.4M/Year Coliving Business In Singapore

Casa Mia Coliving, a sustainable and modern co-living and property management company in Singapore offering affordable accommodation, has an annualized revenue of $2.5M with 150 bedrooms across popular neighborhoods, attracting young professionals and boasting a 10x LTV/CAC ratio, all while focusing on unit economics and profitable growth.

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2. Vacation Home Help ($1.44M/year)

cleanliness increased overnight. We lost some hosts. To address this, we implemented a rigorous vetting process for cleaning services and prioritized quality and consistency. We also implemented a feedback system where hosts can rate and review the cleaning services they work with. This helped us identify and address any issues promptly. In terms of customer acquisition, word of mouth has been our biggest driver. We provide exceptional customer service and go above and beyond to meet our customers' needs. We also leverage social media platforms and online communities to connect with potential customers and share valuable content. Additionally, our podcast has been a great tool for attracting and educating potential customers about the vacation rental industry and our services. Overall, our focus on quality, customer satisfaction, and providing valuable resources has been key to attracting and retaining customers.

How much money it makes: $1.44M/year
How much did it cost to start: $800
How many people on the team: 3

We Quit Our 9 To 5 To Start An Airbnb Cleaning Service. Now We Make $1.4M/Year

Former banker builds a vacation rental cleaning service from $800 to gross over a million dollars a year, providing opportunities for underserved communities to provide income through connecting top-rated cleaners to hosts in need through a referral model offering cleaning services, marketing, sales, accounting, bookkeeping, technology and more while empowering cleaners to provide fair and sustainable pricing, offering free resources and education through a short term rental podcast, and expanding to help as many hosts and cleaning services as possible.

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