Industry Analysis & Industry Trends
Before the subprime crisis, revenue was increasing as the real estate boom benefited the industry. Real estate owners began to outsource property management services at higher rates to reduce operational costs and liabilities. However, outsourcing failed to save the industry during the Great Recession between 2007 and 2009, largely because the recession and credit crunch originated within the real estate sector. On a positive note, the US homeownership rate has steadily declined, thus increasing the number of renters. Declining homeownership will continue to support industry growth through 2018... purchase to read more
Industry Report - Industry Analysis Chapter
The Property Management industry offers third party or outsourced services to handle the upkeep, maintenance and tenant relations for property owners or landlords. It relies on how many multifamily residential (i.e. apartment buildings) and commercial spaces (e.g. office buildings) are occupied by tenants, which in turn is influenced by the availability and attractiveness of homeownership and general economic activity. The industry grew steadily in the decade prior to the Great Recession, benefiting from a trend of property owners outsourcing management services to cut costs and focus on other activities. This trend also made the Property Management industry fairly resistant to economic slowdowns, since it offered businesses a way to reduce costs when revenue fell short... purchase to read more