Buildium & NARPM Latest Report Offers Recommendations for How
Property Managers Can Focus on The Customer Experience in the Next Year
the real estate industry’s leading property and association management
solution, today released its 2018 State of the Property Management
Industry Report, co-published with the National Association of
Residential Property Managers (NARPM).
The annual report compiles findings from nearly 2,000 survey respondents
and has become the leading source of property management industry data
and trends. This is the 4th edition of the report and it is the
industry’s most comprehensive analysis of how property managers are
running their businesses, what services they provide, their challenges
and goals, and expectations they have for growth and the future.
finds that in 2018, property managers are still primarily focused on
achieving growth, efficiency, and profitability. However, as the authors
note, property managers have faced a number of headwinds over the last
year, from a strong seller’s market to new construction flooding major
cities. In addition, property managers are adapting to a new generation
of diverse renters and investment-minded owners who expect on-demand
customer service and consumer-grade technology.
This year, a major theme emerged that property managers said is tied to
their future growth and success. The data suggests that, in order to
capitalize on the growth and change occurring in the rental market,
property managers need to make a strategic shift toward empathy-driven,
tech-enabled customer service. This theme stood out as a major area of
strategic focus for 2019 and beyond.
Buildium’s CEO, Chris Litster, and NARPM’s CEO, Gail Phillips, will be
presenting together on the results of the survey at NARPM’s Annual
Convention in San Diego today—Wednesday, October 17th—at 10:30am PDT.
All NARPM attendees are encouraged to attend the session live at the
convention; however, an encore presentation will be offered via webinar
for all industry professionals on Thursday, October 25th at 2:00pm EDT.
“It’s core to Buildium’s culture to regularly survey property managers
to make sure our strategies are aligned with what’s going on in the
industry,” said Chris Litster, CEO of Buildium. “Our annual report gives
us great insight into the trends and shifts that impact our customers,
and the team is incredibly proud of how the report has become so eagerly
anticipated each year.”
“This report has become the industry standard for reporting on the
status of the property management industry,” said Gail Phillips, CEO of
NARPM. “Our partnership with Buildium allows us to offer industry
professionals and NARPM members valuable benchmarking data and
recommendations on how to differentiate themselves in the coming year.”
The State of the Property Management Industry Report is available in
hard copy at the Buildium booth (#45) at the NARPM Annual Convention in
San Diego this week, and is also available online.
The National Association of Residential Property
founded in October 1988, provides a permanent trade organization for the
residential property management industry. NARPM continues to be the
premier professional association of residential property managers,
currently representing more than 5,800 members comprised of real estate
agents, brokers, managers and their employees.
Buildium is the only property management
solution that helps real estate professionals win new business from
property owners and community associations seeking services. Backed by
expert advice and relentless support, Buildium enables you to outperform
across all facets of your business with intuitive software that balances
power, simplicity, and ease of use. Buildium services over 15,000
customers in 46 countries, totaling over one million residential units
under management. In 2015, Buildium acquired All
Property Management, a leading online marketing service for property
managers, making Buildium the only company to give property managers a
way to acquire new customers and increase revenue. For more information,
and connect with us on Twitter,
Lauren Mason, 857-702-8796