A recent study shows that about 25% of property managers are optimistic about the future and 47% are somewhat passive and 28% are negative. For those negative 28%, the biggest issues are overworked, underpaid and stressed by the demands of the clients, which are ever increasing.
Many property managers are keeping their finger on the pulse of the future, but the challenges of people are draining most of their time and resources. As Gomer would say, Surprise! Surprise! Surprise! Because of this, approx. 40% of respondents say their next job will be in a totally different field.
The Best Property Management Companies
The best companies are ones that are run well and that offer structure and processes in place. Great management companies understand that their property managers are more than a task manager. They are more in line of a property advisor.
The Make-up of Property Management Companies
This may be no surprise to most of you, but approx. 82% in the industry are females compared to only 18% of males.
Ages – 54% are between the ages of 25 and 55 and 40% are over 45 years old. 21% of respondents have been in the industry for less than a year, 31% have been in the business for more than 6 years and 28% have been in their positions from 2 & 6 years.
Size – So how many properties does each agency manager?
- 33% manage less than 150 properties
- 27% manage 150-349 properties
- 30% manage 350-999 properties
This is an exciting time for the property management industry and 72% are excited about the idea of technology and the move to a web-based platform. Outsourcing technology is going to be the next phase in this industry. I believe the growing expectations of tenants and owners are a big driving force in this industry. No longer are tenants satisfied with filling out paper applications, mailing in rent checks and calling about problems. Tenants are demanding technology for its solutions.
This study has shed some light on the fact that there is a divide between principles and property managers. This is not uncommon across multiple industries. The most successful businesses are those that can eliminate the divide between the customers and leadership. This will be true for most all businesses.
PropertyZar is a real estate technology company specifically in the web-based property management software for owners and professional property managers. Read more Top Property Management Blogs. Learn more www.PropertyZar.com