The property management industry
is poised for growth thanks to the booming rental sector, according to
Utah-based Real Property
Management.
Citing Census Bureau data, the
company notes the number of households that rent instead of own has jumped to
38 million and should rise to 41 million in the next two years. Furthermore,
renter-occupied housing accounts for about one-third of households.
Many homeowners who were forced
to relocate but unable to sell their home have become an “accidental landlord,”
which also adds to the need for property management services.
Real Property Management says it
has doubled in size over the past two years. Currently, the company has 230
offices across 47 states and opens an average of eight new franchises per
month.
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