How Landlords Are Utilizing Property Managers

Utilizing a property management company can be incredibly helpful for landlords, especially for the more strenuous tasks such as tenant eviction. (Not surprisingly, a whopping 83% of landlords use third party property managers to evict their tenants). The Iceberg Report, a study of SFR real estate investors, provides the most comprehensive data available on landlord strategies. Here are some of the highlights on property management strategies from the Report:

What are some of the tasks investors are hiring property managers for and what percentage of landlords are using property managers for these tasks?

• Rent Collection: 35%
• Utilities Management: 23%
• Taxes and Accounting: 12%
• Eviction: 83%
• Repairs and Maintenance: 27%

How many landlords use property management companies for tenant screening and what other strategies are they using?

• Screen without help: 38%
• Use a property management company: 30%
• Online tenant search and placement: 7%
• Use a realtor or lease service: 10%

How are landlords finding property management companies?

• Word of mouth: 36%
• Referrals from realtors: 19%
• Internet searches: 14%
• Direct mail: 2%
• Other methods: 29%

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Related: Investor Landlording Strategies, How Investors Are Financing Their Rental Properties