Property Management Business Plan Template [Updated 2024]

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IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will serve the residents within [location] and the immediately surrounding areas.

The precise demographics of the town in which our location resides is as follows:

Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The company will primarily target the following customer segments:

  • Property owners: These are individuals or entities that are seeking to generate profits from their real estate properties by leasing them.
  • Home Sellers: These are mostly seniors who are moving out of the region for retirement and have no one to tend to their properties. These individuals find it convenient to entrust the maintenance and property concerns to property managers since they are not able to be there in person. A small part of this group are individuals or couples that are selling their homes to purchase a different property out of the area.
  • Landlords: These are owners of apartment buildings, multi-unit homes, condominium complexes, and small homes who seek to rent out a portion or all of the space of their property. This group includes both professional landlords who earn their primary income from real estate rentals and landlords who are capitalizing on excess space to earn extra money.
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