If you’re looking to get into property management, you’ll want to research your potential clients. And property owners who are considering becoming landlords will be looking for a real estate professional who’s familiar with their needs.
According to a recent survey of 2,000 landlords conducted by TransUnion, 44 percent are age 34 and under and 66 percent are college graduates. While 40 percent of survey respondents own the property strictly for investment, the majority have sentimental or family ties to the home. The most common reason for renting out a property is the owner enjoyed living there at one point and wants to make extra income. An average of 31 percent of property owners’ annual income comes from their rental properties, and half of the landlords surveyed say they depend on that income.
Learn more about the TransUnion survey in the infographic below.
Erica Christoffer is a consulting editor for REALTOR® Magazine and manager of the YPN Lounge. Connect with her at echristoffer@realtors.org.
SaveErica Christoffer is a senior editor for REALTOR® Magazine and manager of the YPN Lounge. Connect with her at echristoffer@realtors.org.
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