DFW Property Management Pool Shrinking, Rental Marketing Growing
DALLAS– Specialized Property Management DFW recently acquired local firms which added many new properties to their rental portfolio. These acquisitions were formerly managed by real estate agents and brokers who are exiting the industry of property management in pursuit of real estate sales now that the housing market is beginning to recover.
According to database company InfoUSA, there are currently 71,584 property management firms in the US, a number that has rapidly declined since the housing market began to recover and real estate agents are exiting the business. Smaller firms are also beginning to sell their businesses to larger property management firms.
“Unfortunately, the skills, knowledge and systems needed for selling real estate are very different than what is needed for property management,” said Don Lawby, President of Property Management Business Solutions, “Some agents found property management difficult, time consuming, and unrewarding, and their brokers found that the legal liability of property management can get expensive.”
As agents begin to exit the property management industry in favor of real estate sales, they are able to partner with Specialized Property Management DFW to create a referral network equally beneficial to each party. The trend of larger property management firms taking over smallers ones will also continue as the housing market bounces back.
As Specialized Property Management DFW continues to grow, their goal is to increase the use of technology to provide higher levels of quality customer service, and raise the bar for property management firms. Specialized Property Management DFW has over 25 years of experience in the property management industry, and is a leader in the Dallas-Fort Worth Metroplex.