There are an estimated 40M+ rental units in the United States. Of these 40M, approximately 28M are under 9 rental units. Under 9 rental units would be considered single family homes, condos, townhomes and smaller apartment buildings that have less than 9 units.
Of the 28M rental units under 9 units, 52% of them are self managed.
This equates to approximately 15M rental units throughout the US that are self-managed. These owners do not use a professional management company to manage their small portfolio of rentals.
For most self-managed landlords, they are still using spreadsheets, paper and checks to manage their properties. Unfortunately many of these landlords are too small to use property management software like RealPage, Yardi, Appfolio, Entrata or others because it is just too expensive to do 1 or 9 rental properties on their platforms.
New technologies are democratizing property management and making it even easier for smaller owners to manage their rental properties from anywhere in the world without ever physically going to the property. Technologically speaking, the next 5 years will be very exciting for landlords and we are very grateful to be a major part of it.
