Moving out: Growing homeownership will reduce demand, but office vacancy will support growth

Operating conditions for the Property Management industry are expected to remain positive over the next five years, though this will eventually slow. Over the next few years, the value of residential construction is expected to expand rapidly due to improved consumer confidence and low interest rates, causing an increase in the housing stock. As a result, the US homeownership rate is projected to increase, and fewer consumers will therefore require property management services. To combat this, firms are expected to offer more services such as long-term maintenance contracts to attract renters...read more.

Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 12-17
4.6%
Forecast Growth 17-22
Profit
Employment
70,753
Businesses
23,565
What Our Customers Say

Industry Threats & Opportunities

  • Office vacancy rates are expected to continue falling each year, helping the industry grow
  • Depressed corporate profit ensures that businesses choose to rent over purchase office space
  • Recent expansions of new housing stock will likely result in fewer housing starts over the next five years
  • Industry Report - Starting a New Business Chapter

    The Property Management industry is labor intensive, as the majority of operations require personal communication. Subsequently, there are low capital costs within the industry, as the majority of technology is used to support traditional property management activities. At the same time, there is a significant level of industry competition due to the similarity of services. As a result, industry participants compete on price, quality, breadth of service offerings, and knowledge of local markets. An established local property manager or company has the first-hand experience with local zoning laws and regulations and is also able to use other managed properties as a portfolio of successful business. A n...purchase to read more.

    Additional Insights for the Property Management in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Property Management in New York 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 Number of Businesses in New York and Population of New York in the Property Management in New York industry impact industry performance..

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    What is the Property Management in New York 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
  • Land management
  • Real estate brokerage
  • Construction
  • 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
  • Number of Businesses in New York
  • Population of New York
  • Value of private nonresidential construction in New York
  • Homeownership rate in New York
  • Rental Vacancy Rate in New York

  • Current Performance
  • Residential rental boost
  • Improved company earnings speed growth
  • Industry expansion
  • Chart: Revenue Growth

  • Industry Outlook
  • Residential rental demand slows
  • Transition to nonresidential markets
  • Industry landscape
  • Table: Property Management in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Property Management in New York 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
  • Construction
  • Chart: Property Management in New York Industry Products and Services Segmentation

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

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases and marketing
  • Rent, utilities and depreciation
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Property Management in New York

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Property Management in New York Industry

  • Adams & Co. Real EstateCBRE Group Inc.Cushman & Wakefield Inc.Jones Lang LaSalle Inc.
  • Table: Adams & Co. Real Estate - financial performance
  • 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 York 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 York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Businesses in New York (2008-2022)

  • 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.
  • Why buy this report?

    IBISWorld’s industry research report on Property Management in New York provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    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 York:
    • 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 York 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 York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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