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Own Your Own Business | Join A $55 Billion Industry
Today, real estate property management is a $55 billion dollar industry, according to the 2013 IBIS World Property Management Market Research Report.
With markets in flux and foreclosures squashing the American Dream, renting has provided a great way out for millions of families struggling to pay mortgages. More renters need homes than ever before. More investors are buying rental property. Lawyers and government agencies want to make sure their clients and citizens are getting a fair shake. All parties need trustworthy, professional property management to beat the risks and rent with confidence. Now is the perfect time to explore a property management franchise with Renters Warehouse.
The Single Family Home Sweet Spot
The foreclosure crisis will drive 3 million former homeowners to rent single-family homes between 2010 and 2015 – that’s 3 out of 4 homeowners who lose homes to foreclosure or other mortgage distress. The single-family home rental was the fastest-growing part of the rental market from 2005 to 2010 according to Fannie Mae, citing U.S. Census data. Its continued growth is unprecedented.
of dollars of private equity pouring into the single-family rental business”
The Future – A Renter Nation
According to the National Association of Realtors, 5 to 6 million families will become new renting households in the next 10 years. Renting has become an economic and lifestyle choice for more than half (57%) of those under the age of 34, and 46% of those under the age of 45, affording people more flexibility, more freedom and less risk. In fact, 43% of renters said that they just don’t want to own homes. And another 39% reported that they plan to continue renting because they enjoy it. For many Americans, it seems that renting is the new buying.