Zenplace Property Management For Only 4.9% of Rent

Got this ad in the email. Anyone tried?

This is the BEST property management company even though this is the first time I have heard of it. Emailing you means they really know who are the landlords, super.

Actually they emailed me because I have an agent license. They want me to refer them clients.

Most PM’s are pretty interchangeable. I want my PM’s to do a better job screening tenants but they are incentivized NOT to do that. Besides screening, all it takes is someone answering the damn phone, which should not be hard.

Is a new company with no track record.
Are the developers working in a car park?

Property management seems pretty good and easy business. Subscription revenue too.

1 PM can handle 100 doors, those in the picture are not PMs right? They look like developers. So how many PMs do they have? How many doors are they managing now?

Show many statistics but didn’t show their rents vs other PMs :slight_smile:

It’s a tech company based in Sunnyvale. You don’t really need that many people in a PM company. You don’t even need local presence. You can contract out the showing to local real estate agents for a flat fee, and centralize the phone answering in Philippines or something. Fat margins.

bullish for sunnyvale, now, isn’t it :slight_smile:

If Redfin were smart they would have gotten into PM. People place higher PE on firms with subscriptions revenue, and the field is much less crowded.