Property Manager Trends – This is a 3 part series of educational articles dedicated to property managers. Home Painters Toronto underwent a study based on statistics, trends, and research on behalf of property managers and what they are to face in the future.
Part I: Will deal with dangerous trends in the property manager industry
Part II: 5 of the biggest challenges for property managers
Part III: Solutions and steps these property managers can take to alleviating these challenges
A) Trend – With the fall of the real estate market in 2008, rental property demand has been going up – this is good since there is higher demand for rental vacancies; but bad because there is more competition for those renters – can you keep up with this increase in demand for vacancies?
B) Trend – Too many Property Managers in the market: There has been an over saturation of residential and commercial property managers and property management companies in the marketplace today. Therefore, it is imperative that you HAVE to differentiate yourself from your competition or you will lose market share to them.
C) Trend –With bad economy, owners and tenants are trying to find any way possible to cut expenses and avoid having to pay large maintenance cost fees
D) Trend – Lawsuits and Liability issues way up
E) Trend: Number of good trades people going down