Valuing property management companies means digging beneath the leases. Key challenges for SBA 7(a) valuations include:

• Contractual stickiness – Are accounts locked in or month-to-month?
• Owner dependency – Is the founder the sole point of contact?
• Overstated margins – Payroll and travel are often underreported
• Diversified revenue – Maintenance markups, leasing commissions, HOA fees?

📌 If the owner holds the keys to every door, that’s not transferable value—it’s a job.