Property Management in the US - Industry Market Research Report
Description
Property Management in the US
Property managers are hired to oversee operations for apartment complexes and other rental sites. Demand for management services is countercyclical, as more consumers switch to rentals when the economy worsens and the price of home ownership increases. Managers experienced growth during the economic downturn bought on by the spread of COVID-19, carried by increased residential constructions. Rental vacancy rates declined as property owners needed to fill more apartments to maximize revenue during this time of uncertainty, as the eviction moratorium prevented them from pushing out renters that couldn't pay. A sharp increase in office rental vacancies did pressure the industry, as working from home became the norm because of pandemic-related restrictions. Revenue grew at a CAGR of 1.0% to $114.9 billion over the past five years, despite a decline of 0.4% in 2023 alone.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Property managers are hired to oversee operations for apartment complexes and other rental sites. Demand for management services is countercyclical, as more consumers switch to rentals when the economy worsens and the price of home ownership increases. Managers experienced growth during the economic downturn bought on by the spread of COVID-19, carried by increased residential constructions. Rental vacancy rates declined as property owners needed to fill more apartments to maximize revenue during this time of uncertainty, as the eviction moratorium prevented them from pushing out renters that couldn't pay. A sharp increase in office rental vacancies did pressure the industry, as working from home became the norm because of pandemic-related restrictions. Revenue grew at a CAGR of 1.0% to $114.9 billion over the past five years, despite a decline of 0.4% in 2023 alone.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
45 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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