Property Management in Galveston, Texas – SOLD

This is a Galveston property management company.  There are 20 houses and condo’s.  Sales have increased every year.  Seller is ready to retire.  However, he will train the new owner for 3 months to make a smooth transition.  This is included in the price.  They are members of VRBO which the tenant pays their 10% to 15% fee.  There is a 3-day minimum to rent the houses and 2 day minimum for the condos. The tenant pay’s ½ the price up front with a 30-day cancellation period.  No exceptions.  The Buyer will get any unused deposits at closing.  The company gets 25% of the rental plus the admin & booking fee which is $110 per rental.  This admin & booking fee is virtually all profit except for an occasional filter for a refrigerator, etc.   The maid work and the handyman are contract 1099.  All work is charged to the owner of the property.  The Buyer should have a Real Estate License.  A Very Profitable Business.