When real estate markets slow, homeowners often choose to rent instead of selling at a loss. Property managers who educate owners about the pros and cons of renting position themselves as trusted advisors, not just transaction facilitators, and will grow their business as markets cool.
What you should know is that property management is always going to have a space because investors will start to step in. Anytime the markets are in an oddball spot where they are stabilizing, houses take longer to sell, some people will lose their patience and they'll decide to rent it out instead. Property managers that are properly out there can provide an alternative to selling or to cutting your price. Property management can absolutely be a tide over if you understand the pros and cons, and that's what a professional property manager does. You talk to the property owner and say, here's the pros of renting, here's the cons, and let people become fully educated. I think our educator property managers are going to watch their business explode as the market slows, and the ones who are in it for a quick hit will go away.
