2024 Property Management Industry Trends
The shift toward professional management in SFR
This study surveyed over 750 U.S.-based residential real estate investors who own up to 49 long-term rental units, capturing insights into investor attitudes toward property managers and property management services.
This research on U.S. residential real estate trends provides valuable insights into property management best practices and investor decision-making processes.
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%).
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Trusted Insights You Can Count On
With data thoughtfully weighted to capture a range of perspectives, this report delivers accurate and reliable insights into property management trends. You'll get an in-depth view of investor priorities and the areas where property managers add the most value. Looking ahead to 2025, top priorities include boosting profit margins, enhancing property facilities, and expanding portfolios.
Why 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.
The Value Of Property Managers
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.
Unlock the latest insights on U.S. residential real estate trends!
Dive into these findings and gain early access to the report for an edge on industry best practices and investor decision-making trends.
This report was sponsored by LeadSimple and Peter Lohmann’s Newsletter and co-authored by Jordan Muela, CEO of LeadSimple, Peter Lohmann, CEO of RL Property Management, Jay Parsons, head of investment strategy and research at Madera Residential and Rob Hahn, managing partner at 7DS Associates.
