Buying a property management company in Orlando and Central Florida

• Many owners and associations, with no single client making up much of revenue. An investor with dozens of homes can leave in one phone call.
• Clients who stay for years, and few lost doors (the industry's word for units under management).
• Clean, reconciled trust accounts and owner statements that go out on time.
• Managers who have their own client relationships and plan to stay, so clients don't leave with the departing owner.
• Fees that cover the work, including leasing, renewals and maintenance coordination.
• A reliable network of maintenance vendors who respond quickly, since slow repairs are why owners and tenants leave.
• Software that owners, tenants and association members actually use.
• A reputation with associations for smooth board transitions, budgets and annual meetings.

• The client list: doors or associations per client, fees, how long each has been a client, and clients lost in the last three years, with the reasons.
• Trust account reconciliations for at least a year, matched to bank statements. A shortfall can become the new owner's problem.
• Management agreements: notice periods, fee schedules, and whether they can be assigned to a buyer.
• Revenue by fee type: management, leasing, renewals, maintenance markups, late fees.
• Complaints to the DBPR and any lawsuits with owners, tenants or associations.
• Who manages each relationship, and whether those managers have signed agreements not to solicit clients.
• Who owns the software accounts and data.
• For associations, contract renewal dates and any boards that have recently asked other managers for proposals.

• How many doors and associations do you manage, and how many did you lose last year?
• Who is the broker of record, and would they stay after a sale? Who holds the association manager licenses?
• Who reconciles your trust accounts, and how?
• What are your main fees, and when did you last change them?
• Can your management agreements be assigned to a new owner?
• Which clients are closest to you personally?
• Do you manage vacation rentals, and how is that business licensed and taxed?

This region covers Orange, Seminole, Osceola, Lake, Sumter and Marion counties: Orlando, Winter Park, Kissimmee, St. Cloud, Sanford, Clermont, Leesburg, Ocala and the large retirement communities of Sumter and Lake counties. Tourism is what the area is best known for, built on the theme parks, the hotels, the vacation rental homes around Kissimmee and the Orange County Convention Center. It's far from the only business. The University of Central Florida and the military simulation and training offices near it support a technology base, and health care is a major employer.

Marion County is horse country, with thoroughbred farms around Ocala, and it has added warehouses and distribution centers along Interstate 75. Retirees in Sumter and Lake create steady demand for medical practices, home care, home maintenance and auto services. The building trades, restaurants, and companies that serve hotels and rental homes do well across the region.

Central Florida is inland, so storm surge isn't the worry it is on the coasts. Hurricanes still bring wind damage and flooding, though: Hurricane Ian flooded neighborhoods in Orange, Seminole and Osceola counties in 2022. Ask whether the business or its customers were affected.

Tourism keeps demand steadier through the year than in markets that depend on winter residents, with busy stretches around school holidays. Hotels, parks and restaurants compete hard for workers, which pushes up wages for any company that hires hourly staff. New homes have spread fast in Osceola, south Lake and southeast Orange counties and around Ocala, so check whether a company's customers are in growing areas or older ones. Traffic on Interstate 4 limits how much ground a service company can cover in a day.