Property Management & Vacation Rental Company – S502

Business provides Property Management and Vacation Rental services in a Tourist Destination in Central Texas region. The business comes with a large recurring revenue base plus the opportunity to sell the managed properties. There are multiple streams of revenue and an in-house laundry service to control costs. There are about 100 clients with 60 Property Management and 40 Vacation Rental. The Property Management side of the business consists of long term (12 month or longer) residential rentals, providing a consistent year-round level of cash flow. The Vacation Rental side of the business consists of short term, overnight vacation rental properties and has a seasonal cash flow with a high and a secondary season. Roughly 60% of the cash flow comes in the 3-month high season, and 40% is spread over the secondary and low season. The three-year average adjusted cash flow is $123k with this year on pace to be higher. The adjusted cash flow in 2020 was over $112,000 demonstrating the need for their services even during the pandemic. Please note there will be a considerable amount of prepaid services transferring with the sale. Business currently has 2 Full Time employees, and the payroll has been adjusted for one more staff member to replace one of the owners. The primary owner is willing stay on for a meaningful training and transition period and sign a non-compete agreement. Reason for sale is to retire. Buyer should have a Texas Real Estate Broker’s License to operate the business.