RENTAL NUMBERS ARE UP; SO ARE PROPERTY MANAGER NUMBERS
RentCafe.com analyzed U.S. Census data for 100 of the largest cities in the United States reported in that the number of renters nearly outnumber the number of homeowners as of January 2018.
The number of renters rose from 226,832 (40.8 percent) in 2006 to 320,149 (47.1 percent) in 2016. If the current trend continues, Denver will soon join other cities like Boston, Los Angeles, Miami and New York City, all of which have higher percentages of renters than homeowners.
The combined cities of Denver and Aurora rank 128th among 400 of the country’s largest cities for people who rent vs. own their homes, according to the rental marketplace Abodo. The figures were culled from the 2015 U.S. Census Bureau’s 2015 American Community Survey of all the nation’s cities with a population of more than 100,000.
According to Fourandhalf.com, the marketing solutions resource for property managers earning the prestigious Inc. 5000 Fastest Grown Companies in the US nomination in 2018, the increase in rentals means more homeowners will seek a professional to manage their rental properties.
Fourandhalf.com attributes the increase in smaller property owners seeking professional help due to more investment outside of owners’ markets. Investors might manage their properties locally, but because cap rates are down, they’re expanding ownership to other markets to increase ROI. Secondly, owners today prefer to have a pro handle the job, drawing the analogy that landlords often are a generational business. While their fathers would spend hours washing their own cars, today’s younger generation would rather frequent an automated car wash.
Search “property management Denver” on Google and about 95,100,000 results populate within .68 seconds. That’s a lot of would-be managers to vet to manage your property.
If you contact a property management firm that claims one-size-management-fits-all-properties, you’ve dialed the wrong number. At Blueshift, we recognize that all properties are different. From size to location to condition, properties, like fingerprints, are individualized. At Blueshift we build a customized program for services that meet your needs. Moreover, we build a program that is bottom-line-up. We want your property to pay for itself AND management PLUS have ROI left over.
Call Phillip Svoboda, founder of Blueshift, to learn more about the Blueshift philosophy and how it will work to your benefit.