According to The Iceberg Report, the most comprehensive analysis of the single family residential rental industry ever done, 50% of rental property owners are satisfied with their property managers and/or property management strategies. However, 77% of the same respondents reported issues with their properties. Here are the findings from The Iceberg Report on what investors and landlords claimed are common rental property issues along with the percentages on who reported those issues:
- Unexpected Maintenance: 28%
- Late and Delinquent Rent: 21%
- Tenant Damage: 14%
- Major Reno & Repairs: 6%
- Eviction: 6%
- Tenant Problems (such as noise complaints, unauthorized third-party residents, and pet and HOA violations): 5%
- Extended Vacancy: 4%
- Fair Housing Issues: 2%
If you are a flipper or BRRRR Method user, consider some of these problems ahead of time. Want even more property management insights from The Iceberg Report? Check out our blog post How Landlords Are Utilizing Property Managers. . Are you a property manager? Check out our Property Manager Program.
Related: Landlord’s Guide to Tenant Retention, How Landlords Are Utilizing Property Managers
