This depends on what stage you are currently in. Do you already have prop mgmt experience working for a mgmt company and now you are starting your own? Or are you starting this business with no experience in the field? Is your question more about procuring new clients or setting up the infrastructure for your business?
As far as operating your business is concerned, I think the most important things to consider are
1) Staying organized---new computer(s) with Solid property management software with good accounting functions, an efficient scanner, document organization software. Keep databases of everything (e.g., vendors, tenants, owners, etc..)
2) Staying connected---try to communicate with your tenants and vendors through email as much as possible. This will help you stay organized with your ongoing tasks and communications. And know the best way to get int touch with the people you need most. Be responsive and accessible for your tenants and owners as much as you can. Even if you don't have the answer or an update, pick up your phone and return people's calls immediately to let them know you are working on their problems.
3) Find vendors that are as responsive to you as you are to your tenants---Your quality of service is only as good as the vendors at your disposal. If they are slow, inexperienced, unprofessional, and unethical, than essentially your company has all of those attributes as well.
Be nice to everyone! Treat everyone with respect, even if they don't reciprocate---it's all about keeping your cool at all times.
Jun 6, 2013