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The State of the Property Management Industry

3 Rental Market Trends to Watch from Buildium’s 5th Annual Report

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Introduction

Today's Property managers are at the center of the collision between rising rental demand, declining profits, changing regulations, and the nationwide shortage of affordable homes.
Catch a glimpse of the rental market’s future in 2020—on a national level, as well as in 50 local markets across the country—in the 5th annual State of the Property Management Industry Report.
Who are the 3,676 people who took our survey?
Property managers
renters
rental property owners
association board members
metro areas
Here’s a first look at 3 property management industry trends we’re watching. Discover more data-driven insights inside the 193-page report.
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TREND #1

Property Managers Fight to Stay Profitable

A strong seller’s market has stunted property managers’ business growth in recent years. With owners enticed to offload their rentals, many property managers are fighting to maintain their profit margins and client base.
-7.2

Has your portfolio expanded over the last 2 years?

The number of property managers who expanded their portfolios decreased by 7.2 points between 2016 and 2019.
2016
2017
2018
2019
2019
2018
2017
2016
2019
2018
2017
2016
1 in 2

What are your top priorities in 2019?

Nearly 1 in 2 property managers named Growth and Efficiency as top priorities in 2019.
Growth
Efficiency
Profitability
Owners
Communication
Growth
Efficiency
Profitability
Owners
Communication
Growth
Efficiency
Profitability
Owners
Communication

Industry Trend #1

How can property managers adapt (and win)?

Property managers are jumpstarting efforts to work more efficiently; make more money without adding doors; and communicate effectively with residents, owners, and employees in a time when technology can make or break relationships.

Learn more about property managers’ strategies for staying profitable in today’s market.

Download the Report

Industry Trend #1

How can property managers adapt (and win)?

Property managers are jumpstarting efforts to work more efficiently; make more money without adding doors; and communicate effectively with residents, owners, and employees in a time when technology can make or break relationships.

Learn more about property managers’ strategies for staying profitable in today’s market.

Download the Report
TREND #2

Investor Clients Outnumber Accidental Landlords

As Accidental Landlords exit the rental market, Intentional Investors now make up more than half of property managers’ client base. Plus, faltering home price growth is piquing the interest of a new generation of real estate investors.
+10.7%

Which type of rental owner do you consider yourself to be?

More than half of today’s rental owners consider themselves Intentional Investors—an increase of 10.7% over the past year.
54.9%
15.9%
29.1%
Intentional Investor
Accidental Landlord
Unintentional Investor
1 in 2

Why do you own rental property?

Rental properties are an active income source for 1 in 2 owners.
Active stream of income
Passive stream of income
For sentimental reasons
Not a good time to sell
To move into eventually
To make available to family/friends
Active stream of income
Passive stream of income
For sentimental reasons
Not a good time to sell
To move into eventually
To make available to family/friends
Active stream of income
Passive stream of income
For sentimental reasons
Not a good time to sell
To move into eventually
To make available to family/friends

Industry Trend #2

How can property managers adapt (and win)?

Property managers will be challenged to prove their value to not only the Accidental Landlords and Intentional Investors they’ve served in the past, but also to a new group of DIY landlords tempted to manage their own rentals with apps.

Learn more about tweaking your services to match your owner clients’ needs.

Download the Report

Industry Trend #2

How can property managers adapt (and win)?

Property managers will be challenged to prove their value to not only the Accidental Landlords and Intentional Investors they’ve served in the past, but also to a new group of DIY landlords tempted to manage their own rentals with apps.

Learn more about tweaking your services to match your owner clients’ needs.

Download the Report
TREND #3

The “Typical Renter” is Evolving Fast

Renting is no longer a temporary rite of passage—it’s a lifestyle choice, and a vital alternative to homeownership for Americans who aren’t in a position to buy a home.
1 in 2

What is the primary reason that residents rent?

Nearly 1 in 2 renters would prefer to own their home, but aren’t in a position to buy right now.

38.6%

I'd prefer to own my home, but I'm not in a position to buy a place right now

22.8%

Renting is more affordable than buying in the area where I like to live

15.8%

My current rental meets my needs for now, and I don't want to deal with the hassle of moving

47.6%

I'd prefer to own my home, but I'm not in a position to buy a place right now

20.6%

Renting is more affordable than buying in the area where I like to live

11.1%

My current rental meets my needs for now, and I don't want to deal with the hassle of moving

46.5%

I'd prefer to own my home, but I'm not in a position to buy a place right now

15.2%

Renting is more affordable than buying in the area where I like to live

12.2%

My current rental meets my needs for now, and I don't want to deal with the hassle of moving

37.0%

I'd prefer to own my home, but I'm not in a position to buy a place right now

16.7%

Renting is more affordable than buying in the area where I like to live

14.5%

My current rental meets my needs for now, and I don't want to deal with the hassle of moving

Which generation do renters fall into?

A full third of renters today are over the age of 40; and Baby Boomers are among the fastest-growing U.S. renter demographics.

51.2%
20%
5.9%
11.8%
1.2%
Generation Z
Born in 1997 or later
Millennials
Born between 1981 and 1996
Generation X
Born between 1965 and 1980
Baby Boomers
Born between 1946 to 1964
Silent Generation
Born in 1945 or earlier

Industry Trend #3

How can property managers adapt (and win)?

Tactics for attracting and retaining renters will need to fit a broader demographic in 2020, from young professionals to families and retirees at all income levels.

Download this year’s Industry Report to uncover residents’ specific preferences by generation and region, and get an inside look at renting in 50 of the nation’s largest cities.

Download the Report

Industry Trend #3

How can property managers adapt (and win)?

Tactics for attracting and retaining renters will need to fit a broader demographic in 2020, from young professionals to families and retirees at all income levels.

Download this year’s Industry Report to uncover residents’ specific preferences by generation and region, and get an inside look at renting in 50 of the nation’s largest cities.

Download the Report
Download the Report

There’s so much more inside this year’s State of the Property Management Industry Report.

Discover how property managers can:
  

Take on a new role for their clients as major cities face a less profitable, more regulated future

  

Balance the need for ever-increasing efficiency with empathy-driven customer service

  

Seize success in the face of changing conditions in rental markets across the U.S.

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