Peter Lohmann's Newsletter - Issue #140

The First-ever Property Management M&A Report. Must-Have AI Tool I Love.

Author

Peter Lohmann
May 02, 2025

A no-fluff weekly publication for the property management industry.

Announcing The 2025 Property Management M&A Report

I could not be more excited to introduce a brand new industry report:

Remember when I was asking newsletter readers to submit their transaction data, like if they had purchased or sold a PM company in the last few years?

I didn’t know what to expect. Maybe 5 people would do it, maybe 25, maybe nobody would. After all, this is very personal and very confidential data. And, in many cases, still under NDA!

Well I was blown away by the response. In the end I got 89 valid transactions to use for analysis.

The volume of submissions let me put together an extremely comprehensive, detailed report that will be of extreme interest to anyone who owns a PM company, or is looking to buy or sell a PM company.

Why This Report Matters

  1. Real Data, Not Guesswork. This is the first publicly shared dataset of its kind in the PM industry—based on 89 verified, closed transactions, not hearsay or back-of-the-napkin estimates.

  2. Clear Valuation Benchmarks. See what companies actually sold for—broken down by size, profit margin, buyer type, region, and more. If you're planning a sale, this helps you price realistically (and strategically).

  3. Timing, Scale & Profit Insights You Can Use. From the 350-door tipping point to profit-driven pricing and seasonal trends, this report reveals what really drives higher multiples—and how to leverage that insight whether you're buying or selling.

Who It’s For

Whether you're a PM company owner, buyer, or advisor, this is the most concrete dataset available to guide valuation decisions on both sides of the table.

  • 🏘️Based on 89 real, closed transactions (not inflated listings or unverifiable hearsay)

  • 🔍Personally reviewed by a fellow PM owner for accuracy, consistency, and realism

  • 📊Breaks down multiples by size, profit margin, buyer type, region, and more

  • 📆Tracks 5 years of deal data (2020–2025) to show how valuation trends are shifting

  • 💡Includes insights you won't find in any broker pitch or blog post

Property management business owners have been operating in the dark. This report gives us a baseline for real sales data.

How To Get The Report: Details

  1. If you submitted a transaction, you’ve already received a copy of the report in your email inbox. Contact me if you didn’t get it.

  2. If you’re a Crane member, see this post in Circle for an extra special offer.

  3. If you have not yet submitted a transaction, you may do so here, and then you will receive a complimentary copy of the report after I have confirmed your submission.

  4. Newsletter subscribers (that’s you) — special offer — 20% off for the next 7 days only. Use code NEWSLETTER at checkout.

Anyone who pays for the report will not only receive the 2025 report, but is entitled to receive two years of updates as well. So as we receive new transaction data and incorporate it into the report updates (which will be exciting, so we can see trends), you’ll get those at no additional cost. Transactions must be from the year 2020 and newer.

OK—go get it!

THIS ISSUE IS PRESENTED BY ANEQUIM

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  • Improved Tenant Satisfaction: Prompt and professional service leading to happier tenants, reducing turnover, and improving your company's reputation.

  • Scalable Support: As your portfolio grows, your call volume increases. A call center can scale with you, ensuring consistent service quality without the hiring and training overhead.

  • Reduced Costs: Eliminate the need for additional in-house staff, saving on salaries, benefits, and office space.

    Don't let your business get bogged down by phone calls. Invest in a call center and unlock your true growth potential.

Two Ways I Actually Used AI This Week

  1. I installed a tool called Wispr Flow on all of my computers, and I've been using it every day to save a ton of time on typing. It’s a one-trick pony: insanely great voice dictation.

  2. With Lovable, Kori Covrigaru and I attempted to build a rent roll analysis tool (for Buildium, to start) with the goal of understanding the seasonality of our photography needs (move-ins, basically). It didn’t end up working, but we got really close. I made it public in case you want to fork it and try to get it working.

New Property Management Companies For Sale This Week

Industry News & Events

  • Steadily (landlord insurance company) has raised a Series C in the amount of $30M.

  • Wolfgang Croskey is on a tear with AI content. I was really impressed by this kids chore tracker he built.

Closing Thought

Logan owns thousands of apartments and has property management in-house:

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P.S. Did someone forward you this email?

Stats from last week’s issue:

Valid Recipients: 15,397

Open Rate: 63.8%

Clickthrough Rate: 3.1%

Most Popular Link (127 clicks): RentEngine’s Q1 Leasing Report

The content of this newsletter is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this newsletter. Additionally, some of the links included in this newsletter are affiliate links, meaning I may earn a commission if you make a purchase through these links. Always perform your own due diligence before making any financial or business decisions.