Peter Lohmann's Newsletter - Issue #146

Growing A Property Management Business by Acquisition

Author

Peter Lohmann
June 20, 2025

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

Growing your PM Business — Organic or Acquisition?

Buying property management doors can be a fast way to grow your business (if you can find another PM company for sale in your market, and that’s a big if.)

If you haven’t considered doing this before, or you’re interested but feeling unsure of how to get started, I wanted to share some resources with you. I’ve purchased 2 different local PM companies on our road to 700 doors at RL Property Management.

  1. You could reach out to a business broker who specializes in PM companies, although they are typically overloaded with way more buyers than sellers.

  2. While you’re looking, here are a few of my thoughts on valuing PM companies.

  3. Marc Cunningham has a great new video about the pros and cons of acquiring PM doors (vs growing organically).

When people ask me about this, here is what I tell them:

Have you ever paid to acquire another PM company or book of business? Let’s take a poll of newsletter subscribers:

Have you ever purchased a property management company or (book of business)?

Please Vote:

Login or Subscribe to participate in polls.

THIS ISSUE PRESENTED BY APPFOLIO

Maximize Your Business Performance Like Never Before at FUTURE Conference

At FUTURE, the Real Estate Conference by AppFolio, you’ll discover cutting-edge technology and breakthrough strategies that will help you unlock the power of real performance and create an ecosystem of value for everyone — investors, owners, and residents alike.

In today’s real estate market, property managers are so focused on the minutiae of everyday tasks that they miss the big picture — and fail to achieve the outcomes they really want.

It’s time to change that. And FUTURE is where it’s all going down.

Here’s what one attendee said about last year’s event: “Everyone should come to FUTURE if they want to stay on top of their property management game. This is the best place to learn about what's coming up in tech and how I can edge out my competition.”

Join AppFolio on October 13-15 in San Diego, CA. Click here to sign up and see what the future of real estate holds.

New Property Management Companies For Sale This Week

  • Here is a property management company for sale in Central Minnesota (asking $759k)

  • Here is a property management company for sale in Kissimmee, FL (asking $1.8M, 150 units)

Would you like to know how much property management companies actually sell for? Check out the 2025 Property Management M&A Report.

Industry News & Events

  • Average owner lead volume, which plummeted in April, appears to have rebounded in May per the updated RentScale scoreboard.

  • I’ve started recording episodes for Season 5 of my podcast! Get in touch if you’re interested in sponsoring. We also have some newsletter slots left in August.

  • Chase just announced big changes to their flagship travel rewards credit card, the Chase Sapphire Reserve. I’ve used this card for around 8 years and the points flexibility is outstanding. I don’t think I’ve paid for a vacation in years.

Closing Thought

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P.S. Did someone forward you this email?

Stats from last week’s issue:

Valid Recipients: 16,278

Open Rate: 62.8%

Clickthrough Rate: 3.4%

Most Popular Link (85 clicks): PM Company For Sale - $1.6M - California

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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. *Affiliate link.