3 steps to outperform your competition

1. The State of the
Property
Management
Industry 2015
3 STEPS TO
OUTPERFORM
YOUR COMPETITION
www.buildium.com • @Buildium

2. Today’s property managers face an increasingly
more complex and competitive market for
obtaining new business and operating efficiently
and profitably.
TECHNICAL
TIME
CONSUMING
STRESSFUL
72% of property
managers
use online payments
88% of property
managers perform
evictions
98% of property
managers
collect rent

3. To help property managers navigate these new
market dynamics, we’ve synthesized the latest
industry data into three steps so that you can do
your best and earn the most.

4. 1. Be competitive + win more business

5. Property managers continue to
offer more services – and fees
– to property owners.
90% or more of companies
provide the following 5
services:
1. Rent collection
2. Tenant screening
3. Marketing properties
4. Maintenance services
5. Financial reporting

6. Percentage of rent
Flat fee
Other
72% of property managers
structure their management fee
as a percentage of rent.
Of the 72% of property managers that charge
a percentage of rent, 46% charge 10%
Of the 16% of property managers that charge
a flat fee, 44% charge $50 -­ $99

7. And as a company grows, so do the number of services
they provide, as well as the likelihood that they charge a
flat monthly management fee.

8. Are you a property manager thinking of adding additional
services to your clients and tenants? Or do you not offer
any of the top five most frequently offered services? You
could be missing out on new business! Consider adding
some or all of these services to gain a competitive edge.
PROPERTY
MANAGEMENT TIP

9. 2. Maximize your marketing + network of experts

10. Property managers attribute marketing their
business as the second most important
driver of business success, next to providing
great service.

11. Property managers rank the
following lead sources as most likely
to convert to new business:
1. Referrals from current/past clients
2. Broker referral leads
3. Leads from your website
4. Online ad leads
5. Leads from online lead services
Property managers allocate larger
marketing budgets for top lead
sources.

12. To grow your business, maximize your marketing. When
you know which lead sources are most likely to convert to
new business, you are able to focus your time, effort and
limited resources on the channels that matter most for
your business.
PROPERTY
MANAGEMENT TIP

13. 3. Leverage technology + outperform the competition

14. Property managers top five challenges:
Property managers look to technology to
overcome their greatest challenges:

15. 81%
of PROPERTY
OWNERS think
technology is
important
PROPERTY
MANAGERS list
technology as a
TOP 5 MOST
IMPORTANT
driver of business
success
Technology helps property managers optimize
business processes and take advantage of
industry best practices.

16. Use property management technology as a selling point
to win new business. For example, 48% of property
owners find it unpleasant to market rental units, and 67%
do not feel well-­equipped to do so. Technology that
automatically syndicates vacant units on multiple online
rental listing sites is an efficiency gain that can be
marketed as a key business differentiator.
PROPERTY
MANAGEMENT TIP

17. From insights to action: three
strategies to grow your business
Be
Competitive
Maximize
Marketing
ROI
Leverage
Technology
Win More
Business
Network of
Experts
Outperform the
Competition

18. 1st Annual State of the Industry Report
Read the full report:
http://www.buildium.com/property-­management-­report-­2015