The ultimate business model…
Why Property Management
- The ratio of renters to buyers is on the rise.
- Tightened lending restrictions and low household incomes discourage home ownership.
- The need for professional property managers is growing.
- People always need a place to live.
These factors have caused a “perfect storm affect” resulting in a $69 billion industry that will continue to grow. According to research published in December 2013 by The Joint Center For Housing Studies of Harvard University:
- There are 43 million households renting in the United States
- Renters constitute 35 percent of all households
- The 2000s marked the strongest decade of renter growth averaging 500,000 annually
- Over the past three years renter growth has averaged 1.25 million
- Most rentals consist of single-family dwellings and 2-4 unit structures
- 20 Percent of rentals were in high-income neighborhoods
2014 has been called “The Year of Relocation.” Americans are relocating to downsize, reduce their cost of living and search for job opportunities. For many, renting is the best option because it is more affordable, less stressful, and it provides flexibility in life choices. Although a majority of renters still consider home ownership as part of their American dream, multiple surveys indicate that it is no longer an expectation or even a priority for many.
Entrepreneurs who position themselves ahead of this business trend will reap big rewards. There has never been a better time to profit from this booming industry.
…I have been a client of Keyrenter for 2 ½ -3 years. The problem with being a landlord is that you tend to care too much about the tenant and not treat it as a business…..I got involved with Keyrenter on one specific property where I thought I would be a really good landlord. I found myself in a situation where the renter owed me a lot of money and I was in a lot of trouble financially. I asked Keyrenter to pick up this really terrible situation to help remedy it. Not only did they help evict the person with the right channels, they also helped me to recoup some of the costs. Then they got the property ready to re-rent and got it back on the market providing me rental income within thirty days. It took all the weight off my shoulders and I felt a sense of a Team working for me. Thank you Keyrenter.Tom D