Bloomberg on the rise of property management

Worth a read:

Just as the U.S. housing boom gave birth to such homebuyer websites as Zillow Inc. and Redfin Corp., services for rental properties are thriving following a surge in foreclosures and stiffening of mortgage standards. Membership in the National Association of Residential Property Managers has almost doubled in five years to a record 3,400 members, according to the Chesapeake, Virginia-based trade group.

“We are riding this sea change in how housing is changing in the U.S.,” said Reggie Brown, chief executive officer of All Property Management LLC, a Seattle-based Web service that sells property managers leads on homeowners who want to lease out their properties. “The only growth is rentals.”

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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3 Responses to Bloomberg on the rise of property management

  1. Schaefer Oglesby says:

    The biggest problems today that I see with that trend is that licenced agents may attempt to set up their own property management companies with out the knowledge and approval of their Brokers. Property Management has gotten to be so specialized in the last 10 years, or so (like all other feields of real estate), an inexperienced agent can find themselves in deep trouble without realizing it.

  2. Wallace S. Gibson CPM says:

    In our area, there are several UNlicensed property management firms that have started posting on Craigslist and are being referred clients by local real estate agents. One just had a large judgement entered against them with no recourse by the plaintiff in the case

  3. Schaefer Oglesby says:

    I guess I’m confused. Who had judgments against them with no recourse?

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