How Savvy SFR Property Managers are Capitalizing on Growing Demand

Single-family rentals, also known as SFRs, are a hot market right now. And while SFRs aren’t a new commodity, seizing upon this market requires property management companies to respond to very recent trends and technology, as scaling up a portfolio with more and more SFRs can challenge even the most seasoned property managers. Chief among these aforementioned trends are those set in motion by the recent pandemic, which spurred an exodus of renters from urban centers into the outlying suburbs, where affordable, spacious SFRs are more common. Responding to demand, we’re seeing a greater number of property managers add SFRs to their portfolios. However this opportunity doesn’t come without challenges. Compared to multifamily properties, for example, SFRs tend to be geographically dispersed and managed by a single owner and manager. Additionally, maintenance can be more difficult since every home comes with different appliances and needs. These factors and more create conditions that require an exponential investment of resources: time, energy, and people. But this doesn’t have to be the case. Developing alongside the rapid growth of the SFR market are new advancements in property management technology , which close geographical gaps and greatly reduce time spent on repetitive tasks. In this episode of The Top Floor, we discuss everything you need to know about SFRs: what’s heating up the market and how you can successfully join without getting burned. Scott Abernathy is the President at Property Management Inc. and PMI Professionals. He received his real estate license in 1994. In 2006, he joined NARPM, where he served as the vendor chairman of the Nashville chapter before becoming the chapter president in 2010. Scott is also a member of the National Government Affairs Committee, where he served as the chairman for two years. He was later elected the Atlantic Regional Vice President, before becoming Treasurer and finally National President. Brad Larsen is the owner of RentWerx Property Management, which is based in San Antonio, Texas, and manages roughly 900 single-family homes with over 750 owners. Brad is also the host of the podcast, Property Management Mastermind Show, which contributed to the creation of the Property Management Mastermind Conference. Bob Preston is the president and CEO at North County Property Group, which was founded roughly two decades ago and has offices in San Diego County, California. NCPG primarily focuses on high-end properties. Bob is also actively involved in NARPM, where he is a Master Property Manager. He has served as the president of the California chapter and remains involved as a mentor and advisor for the chapter, as well as a board member of California NARPM.