The main reason these companies fail is due to their owners’ inexperience or reluctance to introduce certain innovations into their company’s daily operations. For example, some property managers refuse to embrace technology and use affordable online services to save some money. Most of them end up hiring more people than they need or can afford to pay. Other unsuccessful entrepreneurs in this industry often bite off more than they can chew, taking on too many tasks while having insufficient resources. Those who don’t know how to start a property management company properly are also usually those who haven’t learned how the market works, charging too low for their services but overpaying for the maintenance.