Property Management – Northridge

Property Management – Rental rush phenomenon boosts business for property managers, Landlords. Find out how?

Property Management is getting a huge boost lately. Emerging statistics suggest that as Americans prove more inclined to rent than own, ample career opportunities have expanded within the field of property management. Roger Humphrey, Chester, NJ commercial real estate professional, comments.

As a commercial real estate professional, Roger Humphrey Chester NJ resident, explains that multi-family rental properties can be big business–especially as more Americans opt to rent, rather than own. While the growth in renters in the United States has spurred economic growth, especially in the construction industry, Humphrey observes that this “rental rush” has also created new opportunities for those in property management.

A recent article from Franchising.com observes, “Since the U.S. housing market crashed in 2008, the number of households that rent versus own has jumped to a whopping 38 million, and that number is expected to steadily rise to 41 million in the next two years, according to the U.S. Census Bureau. The data shows that renter-occupied housing makes up nearly 34 percent of U.S. households overall, reaching up to nearly 70 percent in some major cities… This U.S. rental rush has created a goldmine of opportunity for the property management industry.”

Roger Humphrey, Chester, NJ professional, comments, “While there are many individual property owners who may act as landlords, many are starting to recognize the benefits of utilizing the services of a property management firm.” For example, the article explains, “Companies such as Real Property Management has doubled in size over the past two years, growing to more than 230 offices in 47 states and managing assets worth more than $5 billion.”

Property Management providers can help landlords from a myriad of operational hazards, according to a recent article. It states, “An increasing number of unintentional landlords are gladly giving up a percentage of their monthly rent to get professionals help to deal with all kinds of responsibilities, including screening potential tenants, collecting rent, evictions, dealing with complaining neighbors, maintenance issues and code violations.” Roger Humphrey of Chester, NJ adds, “Not only do these parties provide careful management, but they give existing landlords a new opportunity to expand and perhaps seek out new investments in real estate.”

Property Management providers can help streamline rental operations, Humphrey notes that the growth of the industry has also introduced many new firms into the industry. He observes that while property management can prove a valid solution to many landlords, it is critical that all property owners carefully select who they do business with.

“When selecting a property management company, you have to think full-service–especially in regards to residential real estate. Not only do you want a property management provider that can handle evictions and vacancies strategically, but you want one that has clear provisions for landscaping, emergency repairs and regular maintenance. In addition, landlords should compare their options, and opt for a property management firm that offers favorable costs and contract arrangements,” Roger Humphrey, Chester, NJ real estate professional, concludes.

by PROPERTY MANAGEMENT SOFTWARE

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