Shaky foundation: Rising vacancy rates and falling access to credit will stifle NJ industry growth

Operators in the Property Management industry in New Jersey manage nonresidential and residential real estate for property owners. The industry is highly dependent on both in-state economic activity and real estate markets as these are the drivers of demand for operators. Rising residential and commercial demand, in association with falling national rental vacancy rates, have increased demand for industry operators over the past five years. In addition, a slight decline in the New Jersey homeownership rate has provided a boon for industry operators. In total, industry revenue is forecast to grow an annualized 3.7% over the five-year period. This includes estimated growth of 3.7% in 2018 to bring total revenue to $2.3 billion...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
3.7%
Forecast Growth 18-23
Profit
Employment
21,057
Businesses
8,361

Industry Threats & Opportunities

  • The industry is highly dependent on in-state economic activity and real estate markets
  • Industry Report - Industry Locations Chapter

    Establishments in the Property Management industry in New Jersey are primarily located around areas where there is strong rental demand. In most cases, these areas are centralized near the most populous regions of the state. For example, the Metro/Newark region is the most populous area within the state and accounts for the largest number of industry establishments at 24.4%. This large percentage of establishments is due to significant demand for industry services in the city of Newark, where many businesses and people are located. The second-largest region in terms of establishments is the Northeast, which accounts for 21.4% of total establishments, largely due to the area having the large city of Paterson. The Shore and Central regions account for 20.3% and 14.4% o...purchase to read more.

    Additional Insights for the Property Management in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Property Management in New Jersey Industry are

  • Having contacts within key markets
  • Having a well-defined strategy/goal
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Homeownership rate in New Jersey in the Property Management in New Jersey industry impact industry performance..

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    What's in this report

    What is the Property Management in New Jersey Industry?

    Companies in this industry manage residential and nonresidential real estate for property owners. Property management responsibilities relate to the overall operation of a property, including maintenance, rent collection, trash removal, security and some renovation activities. Industry players may also help manage a property’s accounting, but operations related to the transactions of properties or real estate investments are not included in this industry.

    Industry Products
  • Residential property management
  • Nonresidential property management
  • Real estate brokerage
  • Land management
  • Industry Activities
  • Collecting rent
  • Managing facilities maintenance services
  • Managing security
  • Managing trash and recycling collection
  • Property accounting
  • Legally representing property owners
  • Finding and screening tenancy applicants
  • Coordinating repair contractors
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Homeownership rate in New Jersey
  • Office rental vacancy
  • Rental vacancy rates

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Property Management in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Apartment Rental
  • Commercial Leasing
  • Storage & Warehouse Leasing
  • Land Leasing

  • Key Selling Industries
  • Conveyancing Services
  • Electricians
  • Heating & Air-Conditioning Contractors
  • Janitorial Services
  • Landscaping Services
  • Painters
  • Plumbers

  • Products & Services
  • Residential property management
  • Nonresidential property management
  • Other
  • Real estate brokerage
  • Land management
  • Chart: Property Management in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Residential properties
  • Other nonresidential properties
  • Industrial buildings
  • Commercial
  • Office buildings
  • Chart: Major Market Segmentation for the Property Management in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Property Management in New Jersey

  • Basis of Competition
    Barriers to Entry
    CBRE Group Inc., Cushman & Wakefield Inc., Jones Lang LaSalle Inc.,
  • Table: CBRE Group Inc. - financial performance
  • Table: Cushman & Wakefield Inc. - financial performance
  • Table: Jones Lang LaSalle Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Property Management in New Jersey Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Property Management in New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Office Rental Vacancy (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Class A Building
  • A commercial office building that commands the highest rent due to the attractiveness and prestige associated with location, tenancy, amenities and overall desirability.
  • Dwelling
  • A place of residence, such as an apartment or house.
  • Real Estate Investment Trust
  • A legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. To qualify as an REIT, the entity must distribute at least 90.0% of taxable income.
  • Vacancy Rate
  • The amount of real estate space unoccupied as a percentage of total available space.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Property Management in New Jersey Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Property Management in New Jersey industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Property Management in New Jersey:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Property Management in New Jersey market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Property Management in New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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