The Property Management Trends Report
In 2017, The Iceberg Report (a comprehensive survey of property owners) found that only 30% of US rental properties were professionally managed.
In 2024, I commissioned a new survey of rental owners to find out: Is that still true?
Of course, I took the opportunity of a nationwide landlord survey to ask all the burning questions I’d been curious about for years. And I yanked 5-time PropTech founder Jordan Muela into the project as early as possible, given his experience with (and deep interest in) original industry research. We engaged Harris Poll to find out:
What do property owners really think of property managers?
What are the most valuable things that a property manager does, from the perspective of an owner?
What do landlords wish that property managers would do for them?
What is our industry’s NPS benchmark from the perspective of the owners (not the residents)?
How do property owners prefer to be communicated with?
Do they really want a single-point-of-contact?
What are investor’s priorities for 2025?
I’m thrilled to announce that the results are in! Read the full press release here and get your copy of the report.
What are some key findings?
➡️ A surge in professionally managed U.S. rentals: 36% of U.S. rentals now managed by pros
➡️ 52% of rental property owners currently use a professional property management service.
➡️ Net Promoter Score (NPS) of +39 for property managers among current users, a favorable score by industry standards.
➡️ Common deterrents for non-users of property managers: High cost (54%), control preferences (43%), and maintenance concerns (32%).
➡️ Top reasons for discontinuing property management services: Decline in service quality (42%), fee increases (27%), and tenant placement delays (29%).
What are investors looking for?
This study was fielded by Harris Poll and carefully weighted to reflect diverse perspectives. You’ll gain an in-depth look at what investors are looking for and where property managers bring the most value. Looking into 2025, priorities include increasing profit margins, upgrading property facilities and expanding portfolios.
How are property managers valued?
Our findings show that property managers are highly valued for making property management easier, boosting profitability, and reducing legal risks. Over 85% of landlords agree that property managers ease the burden of property ownership and help with everything from property maintenance and tenant vetting to compliance with complex regulations.
Why do some landlords hesitate?
Despite the cost and desire for control being the primary reasons some investors have hesitated to hire property managers, those who do work with property managers feel the investment is worthwhile. Nearly 75% of investors using property management services think they bring value that justifies their fees, and 71% report an increase in overall profitability.
