CHICAGO (PRWEB) January 07, 2021
National Landlord Association, a group representing self-managing landlords across the U.S., has released its third yearly report covering the last 12 months. Single-family rentals are a favorite for self-managing landlords, but previously a collection of aggregated data was difficult to come by. This report covers the largest collection of single-family rentals in the U.S. and sheds new light on trends in the rental industry.
Several major players within the rental software space, including TenantCloud, Rentler, Avail, and TurboTenant, have pooled their data to inform the general public about trends impacting the rental market. The united effort covers every state in the U.S and over 1.4 million rental units.
Joe Edgar, CEO of TenantCloud, says, “The next decade brings a tremendous amount of growth in the real estate industry — as well as more regulation. Landlords have to navigate both to be able to expand their real estate portfolio. Data is the key and that is why it’s so important to collect and compare information, in order to predict trends and plan your actions.”
Key findings include future predictions that may shape the real estate landscape- a sample of the data shows that 53% of landlords believe that in 2021 the rental market will be stronger than in 2020. Plus, about 60% of respondents will consider buying more rentals in the upcoming year- which was higher than the number of landlords who thought they would buy in 2018 and 2019.
“As a large percentage of the job market has moved online and people continue to embrace the idea of ‘distance’, I think one thing has become clear - those who stand to benefit the most in the rental industry are single-family home landlords who provide their tenants with contactless interactions, including convenient online payment options,” says Chris Fluegge, NLA Director of Operations.
About National Landlord Association (NLA)
NLA represents self-managing landlords throughout the U.S. and is sponsored by industry leaders including TenantCloud, Rentler, Avail, and TurboTenant. The organization is a member-based group that keeps subscribers up-to-date on laws and industry changes affecting the single-family rental space.
To see the report, go to http://www.nationallandlordassociation.org/2020-nla-report/