New Trends and Opportunities in Property Management

For the second annual AppFolio Property Manager Benchmark Report, we surveyed over 5,000 property management professionals to get a data-driven view of the industry’s current sentiment and outlook. And as market conditions have changed since last year, we found that property management goals and priorities have changed as well. See how your peers are shifting their strategies for 2024 and discover actionable steps to position your business for success.

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Despite an evolving market, property managers are optimistic

of respondents are optimistic about business growth

The vast majority of property management professionals are confident about the state of their business, and are expecting revenue growth this year.

of operators plan to raise rents — compared to 70% last year

Instead, reducing costs is a higher priority this year, and our research uncovers top strategies being pursued to cut costs.

plan to cut costs by filling vacant units faster

Cutting costs remains the #1 strategy to improve operational efficiency, and quickly filling up vacant units remains an effective method for overcoming inflation challenges.