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HOW PROPERTY MANAGERS CAN HAVE THEIR OWN BUSINESS WITHOUT SET UP COSTS
Imagine spending years studying to become a lawyer, only to discover that the career you worked so hard to achieve doesn’t bring you the satisfaction you expected. This was the reality for Michelle, a former banking and finance lawyer who spent eight years in the legal profession, feeling like she was trapped in a “jail cell.” As a mother of four, Michelle sought a career that provided more flexibility and control over her time, allowing her to balance work and family life more effectively. Her journey from lawyer to property manager not only transformed her professional life but also gave her a new sense of purpose and freedom.
Michelle’s career change began with a desire for a better work-life balance. Both she and her husband, also a lawyer, were feeling the stress of demanding careers that left little time for family. “I wanted to have my own business where I could work from home, not go to an office with set hours,” Michelle explains. With young children at home, the traditional 9-to-5 office life was not conducive to the kind of family involvement she wanted. So, 16 years ago, Michelle took a bold step and started her own property management business.
The transition from law to property management was not an easy one, but it was a decision driven by the need for flexibility. Michelle wanted to be there for her kids, whether it was taking them to appointments or just being around when they needed her. She embraced the freedom that property management offered, even hiring au pairs to help look after the children when they were younger. Over time, Michelle found that she could earn twice as much as she did as a lawyer while working half the hours.
Michelle’s approach to property management is heavily reliant on technology, a tool that has made the business more flexible than ever. When she started, property management tasks were time-consuming, involving hours of downloading and uploading photos for reports. Now, with apps like RealWorks and Blink Plus, these tasks are simplified and expedited, allowing Michelle to handle more in less time. For instance, she uses video to document property conditions, which owners can view at their convenience, a method that has proven more effective than traditional photo reports.
The flexibility of her business model allows Michelle to maintain a lifestyle that many only dream of. She can work from anywhere, whether it’s her car or a beach in Bali, as long as she has her laptop and phone. Her business is structured to give her the freedom to travel, spend time with friends, and be there for her children, without compromising on her professional responsibilities.
Michelle’s success is not just about her personal gain; she is passionate about empowering other women in the industry. She offers a platform that allows experienced property managers to start their own businesses under the Stella brand, providing them with the infrastructure and support they need to succeed. This model enables them to build a sustainable business while keeping 100% of their income, which can be a game-changer for those looking to gain financial independence and control over their careers.
Reflecting on her journey, Michelle notes that the property management business is not without its challenges. It requires hard work and dedication, but the rewards of flexibility and autonomy far outweigh the demands. For Michelle, managing between 60 – 90 properties is the sweet spot, allowing her to maintain a high income while working part-time hours. This balance has not only provided her with a fulfilling career but has also enabled her to create a life where she can be present for her family and pursue her passions.
In the early days of her career, like many, she took on any client she could. However, she soon found herself dealing with impossible situations—landlords unwilling to fix serious issues like leaking roofs or broken appliances. It didn’t take long for her to decide that she didn’t need the stress. One day, after a particularly frustrating encounter, she confidently told a client, “I no longer manage your property. Where would you like me to drop the keys?”
For those considering starting their own business, her advice is simple: back yourself. Whether you want to build your own brand or join an established model, be prepared for hard work, especially in the beginning. Success doesn’t come overnight, but with persistence and the right mindset, you can replace your income and more.
Property management, in particular, offers incredible opportunities. A well-managed portfolio can become a valuable asset, potentially worth hundreds of thousands or even millions. For those tired of working for others and ready to take control, the potential rewards are vast.
The transition from a high-stress career to a fulfilling business didn’t happen overnight. It was a process of learning, setting boundaries, and choosing clients that aligned with her values. For anyone looking to take the leap into entrepreneurship, her journey is a testament to the power of choice and the importance of creating a business that supports, rather than hinders, a fulfilling life.
Building a business isn’t just about financial success; it’s about living life on your terms, making choices that support your well-being, and finding freedom in your work. For this property manager, that freedom has been the greatest reward of all.
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