Individual landlords manage more than twice as many single-family homes as professional property managers do. Only five or six companies focus on serving landlords, who skip hiring managers mainly because of high fees and their poor reputation.
Well, there's about 5 or 6 companies that are in that, the entry-level market, which deals mostly with landlords. And let's face it, landlords manage more properties than property managers do in our space by more than double. So single-family homes are 2 to 1 managed by— I call it the dude who owns it versus a property manager. And there's multiple reasons they don't hire property managers. Too expensive, bad reputation, don't know about them, whatever. There's a lot of reasons that can happen.
