1、REPORT 2024PROPERTYMANAGEMENTINDUSTRYSTATE OF THETable of ContentsIntroduction1PM Company Operations:Their Growth Plans&Challenges,and How They Plan to Confront Them4Portfolio Growth4Revenue Growth7Maintenance&Repairs10Staffing12What PM Industry Professionals Love About Their Jobs14PMCs Evolving Rel

2、ationships with Rental Owners15Acquiring New Owners&Facing Competition15Rental Owners Demand for PM Services18Who Owns Rental Property Today?19Why Todays Rental Owners Choose to Hire a Property Manager21Rental Owners Growth Plans25Rental Owners Financial Health28Rental Owners Technology Preferences3

3、0PMCs Evolving Relationships with Residents32Renters Plans to Move33Renters Financial Health35Who Lives in Rental Housing Today?37Where Renters Want to Live39Renters Technology Preferences40Takeaways42About Our Respondents44Our Property Manager Respondents44Our Rental Owner Respondents47Our Renter R

4、espondents491IntroductionIntroductionIts hard not to be impressed with property management companies ability to adapt as market conditions continue to shift at the rapid pace thats come to feel familiar over the last few years.Despite inflation falling since its peak of 9.1%in 2022,costs remain elev

5、ated.Although the labor shortage has abated somewhat,unemployment remains low at 3.6%.More apartment units are being built than weve seen in decades,the housing market is rebounding,and technologies like artificial intelligence are becoming increasingly commonplace.So many aspects of doing business

6、look different than they did just a few years ago.But what hasnt changed is companies determination to expand,though new tactics may be required in 2024.In our ninth annual survey of thousands of property management professionals,85%of companies have reported portfolio growth in the last two yearsth