According to The Iceberg Report, the most comprehensive data available on the American Single-Family Rental Industry, there are 23 million households with 67 million souls living in SFR rental units. Behind all these rental units, there are landlords maintaining the properties, acquiring tenants, and managing finances, among many other property tasks. Needless to say, the industry is huge and professionals across fields—accountants, wealth advisors, attorneys, just to name a few-- can jump on this bandwagon and work with landlord clients. Here is a closer look at how surveyed landlords reported managing their bookkeeping and taxes:
How are landlords managing their day-to-day bookkeeping and accounting?
- Self-Manage: 53%
- Self-Manage with 3rd Party Help: 26%
- Completely outsource: 19%
- Other: 3%
How are landlords managing their taxes and annual accounting?
- Self-Manage: 50%
- Self-Manage with 3rd Party Help: 33%
- Completely outsource: 12%
- Other: 4%
Clearly, almost 50% of landlords seek help with their accounting and taxes. So the question becomes, how do you find them? Our Real Estate Networking Page has ample resources on how to connect with investors. Are you an accountant and want insider information on this market? Check out our Partner Programs.