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THE FUNDAMENTALS OF property MANAGEMENT

THE FUNDAMENTALS OF property MANAGEMENT. Presented by Carmen Hirciag, MBA Research Analyst. Survey Methodology. email to random sample of CA REALTORS® in September & October 2013 744 respondents conducted property management business within the 12 months prior to September/October 2013.

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THE FUNDAMENTALS OF property MANAGEMENT

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  1. THE FUNDAMENTALS OF property MANAGEMENT

    Presented by Carmen Hirciag, MBA Research Analyst
  2. Survey Methodology email to random sample of CA REALTORS® in September & October 2013 744 respondents conducted property management business within the 12 months prior to September/October 2013
  3. California Rental Market Source: U.S. Census Bureau 2012 American Community Survey
  4. Nearly Half Impacted by 2008 Financial Crisis Q: Has your business model changed as a result of the 2008 financial crisis?
  5. Increased Involvement in Property Management Percentage of Business in Property Management Q: What percentage of your business consisted of property management?
  6. 86% of REALTORS® have 3+Years Experience in Property Management Q: How many years have you engaged in property management? (Mean: 13 , Median: 10)
  7. Years of Experience in Property Management Q: How many years have you engaged in property management?
  8. Most Managed Properties are Residential Q: What type of properties do you manage?
  9. Most Manage Only Residential Properties Q: What type of properties do you manage?
  10. Majority Manage their Own Properties Number of Properties Q: How many of the properties that you manage do you own?
  11. Most Property Managers Reside off the Premises Q: Do you currently reside on the premises of one of the properties that you manage?
  12. Top Functions Performed by Property Managers Q: Please check all the management functions which you perform.
  13. Ways to Generate New Clients Q: How do you generate new clients for your property management business?
  14. The Internet is the Most Preferred to Market Vacancies Q: How do you market vacancies?
  15. Craigslist is the Most Popular Website for Marketing Q: On which websites do you market your vacancies?
  16. Print Publications for Marketing Q: In which print publications do you market your vacancies?
  17. Marketing Expenses Q: How much do you typically spend on marketing per unit?
  18. Technology in Property Management Business Q: How frequently do you use each of the following in your property management business?
  19. Software Use in Property Management Business Q: How frequently do you use the following types of software in your property management business?
  20. Mobile Apps for Property Management Business Q: Which mobile apps do you utilize in your property management business?
  21. Client/agent Relationship
  22. Over ¾ Clients are Individuals Owning <5 Properties Q: Please describe your clients.
  23. Referrals are Most Important in Finding Clients Q: How do you typically find your clients?
  24. Nearly Half Paid by % per Property Q: Which of the following best describes your client fee structure?
  25. Median: 8% Per Property Percentage Charged Q: What percentage of the rent do you charge per property?
  26. Median: $125 Per Property Q: How much do you charge per property?
  27. Median: 8% Per Unit Q: What percentage of the rent do you charge per unit?
  28. Charge per Unit
  29. Monthly Vacancy Rates are Low Monthly Vacancy Rate Q: What is your average monthly vacancy rate?
  30. Greatest Opportunity in Property Management Q: What is the greatest opportunity in your property management business?
  31. Top Challenges in Property Management Business Q: What is the biggest challenge in your property management business?
  32. Agent Demographics
  33. Most Managers are Very Experienced Q: How many years have you been licensed to sell residential real estate?
  34. Gender Q: What is your gender?
  35. Marital Status Q: What is your marital status?
  36. Majority are College Educated Q: What is the highest level of education you have completed?
  37. Annual Income Q: What is your annual income?
  38. Ethnic Background Q: How would you describe your ethnic background?
  39. Join us for our next webinar… “Understanding Today’s Home Buyer” Thursday, May 29, 2014 2:00 PM - 3:00 PM To register: WWW.CAR.ORG/MARKETDATA
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