Single-family home rental management
As the single-family rental market continues to grow, so does the need for property management businesses that can scale. Learn about the tactics you can use to maximize profitability and grow your organization.
What’s currently driving growth in the single-family rental market?
The single-family rental market has exploded in recent years, with more and more people renting rather than buying homes due to a number of reasons. With this increase in demand comes new opportunities for property management businesses. Here’s a snapshot of the current state of the market.
The ultimate playbook for scaling your single-family rental management business
Download our free playbook to find out how you can improve the employee and owner experience and boost efficiency, so you can achieve your growth goals and maximize profitability.
Top priorities in single-family home rental management
We surveyed over 500 property management businesses to find out their top priorities. Below are some of the key research findings.
Growth
With demand at an all-time high, your peers are looking to capitalize on growth opportunities. In fact, single-family home rental management businesses are nearly twice as likely as multifamily organizations to view adding new units to their portfolio as one of their greatest opportunities in the next 12 months.*
Streamlining processes
Manual tasks are eating up valuable time, negatively impacting the employee experience, and inhibiting growth for your peers. According to the survey, over half of single-family home rental management businesses cited freeing up teams from labor-intensive processes as a top opportunity in 2023.*
Maximizing profitability
Your colleagues are weary of economic conditions and looking for ways to maximize revenue. Based on the report, 42% of single-family home rental management businesses believe inflation is the biggest risk in 2023, with delinquencies being the second biggest risk (38%).*
“I want to grow in the single-family rental space. The more I can automate, the more properties I can take on. Being able to automate all of these processes empowers my team and me to spend our time going after new business.”
Smart ways to grow your single-family home rental management business
Follow these best practices to effectively grow your single-family rental management business.
Make owner relationships a priority
Strong owner relationships pave the way for future business growth. Here are some ways you can attract and retain owners for the long term.
Attract and retain top performers
Your team is the foundation of your business. Employees’ needs have changed, which means you have to find ways to differentiate your business if you want to attract and retain top performers.
Boost profit margins
The current economic climate requires you to do more with less. Position your business for growth by identifying ways you can maximize profitability.
Get more done with automation
As your business grows, things get more complex. To have sustainable growth you need to either add more staff or simplify your processes to support new units.
Scale your business with a true technology partner
Deliver a better owner experience, optimize workflows, and free your teams to focus on winning new business.
Get Started“Our goal is to be in five cities in five years. With AppFolio, we can duplicate the processes and maintain consistency even across the country. Instead of having 15,000 properties with different systems, we can run everything under the same platform.”
Jenny Stephens
Director, Nebraska Lifestyles Property Management