18 Feb Industry Rental Trends for 2015
Compared to 2014, do you think the rental market in 2015 will be better, worse or the same?
Slightly more than half of the survey respondents believe 2015 will bring an increase in rentals compared to last year.
What key drivers do you think will affect changes in 2015?
Rental and vacancy rates, availability of quality tenants and quantity of good rental properties are all a close tie as potential factors that will affect change.
In your opinion, are most rental property owners knowledgeable about the benefits of professional property management?
NO received the largest response at 78.8%, while YES came in at 21.2%.
What is the biggest misconception about professional property management?
A close tie for the biggest misconceptions are “It doesn’t pay for itself” and “Property managers don’t do a better job than the owners.” Third place in the ranking is that “Property managers don’t care about the properties they manage.”
What amount of clients do you expect will try to sell their rental homes in 2015 compared to 2014?
Interestingly, there is a close tie between respondents who believe sales will remain the same versus those who believe there will be an increase in sales. About one percent more of
respondents predict there will be an increase in sales.
What is the biggest challenge facing the residential rental industry?
Although the economy saw some improvement last year, it still appears to be a primary concern for 2015. Coming in second place for the biggest challenges are “supply of quality rentals, quality tenants and the increasing presence of institutional property owners.
Data courtesy of All Property Management™.