MONONA, WI / ACCESSWIRE / June 26, 2021 / Property management and real estate are two separate industries. Both industries deal with housing, but that's the only thing these industries have in common.
However, they do overlap.
Real estate deals with the listing, selling, and buying of properties, including single family homes, multifamily complexes, and commercial buildings. Property management deals with the managing elements such as maintenance, repairs, qualifying tenants, fair housing, leases, and enforcing the lease contract and its terms on behalf of a property.
If you are a property manager, stepping into the real estate industry can be an advantage, and vice-versa.
Here are 3 ways that property management and real estate overlap:
Access to Market Data
When a renter is ready to become a homeowner, you can be the resource they need. You can help people save time by being both a property manager and realtor. With knowledge of real time market data, you can help renters interpret data and make informed decisions.
Moreover, having access to market data from both industries allows you to pass information along to owners, managers, and tenants. You can guide property owners and investors in what items to prioritize when purchasing, holding, managing, and leasing property.
Renter to Buyer Pipeline
The real estate industry can affect the rental industry based upon average home price and mortgage rates. Real estate agents are often looking for renters who qualify for a mortgage. Typically, renters who qualify are in an average income bracket.
Common factors realtors look for include demographic of renters, the kind of rentals, and the class of property that people are renting out.
Suburban and Urban Market Popularity
A third way the rental and real estate industry overlaps is in the construction sector. The suburban and urban markets in the United States were the hottest markets before the coronavirus pandemic hit.
Many younger adults were opting to rent rather than buy. This made the suburban and urban markets very popular among renters, and the demand for rental properties a priority for realtors.
Find A Property with Realtor Steven Timm
Steven Timm is a real estate agent and property manager from Madison, Wisconsin.
He started his career as a leasing agent at a higher end property in Fitchburg, WI in 2012. After a few years, he transitioned into property management, overseeing a total of 6 properties in the conventional market. For a short time, he managed Section 42 housing and eventually went back to the conventional market.
In 2019, he began his journey as a real estate agent. Now, Steven works as a licensed realtor with Keller Williams Realty, Inc., and specializes in the buying and selling of land, eight-plex unit housing, and the residential and the multifamily housing markets. As a realtor, Steven focuses on service before sales, building a true relationship with his clients beyond just a sale. He builds trust through honesty, integrity, and providing the best possible experience for his clients.
Steven's years of experience in both property management and real estate allows him to connect with many different kinds of people, different personalities, and life situations. He is proud to be associated with Keller Williams Realty as they were involved in 1 out of every 10 real estate transactions in the country last year in 2020 and we typically net sellers from 2.0 to 5.0% over list price and we typically sell properties 44% faster on average.
If you're in Wisconsin and are looking to purchase land, a rental property, are relocating to Wisconsin, or wanting to buy or sell a home, reach out to Steven Timm today.
Company Name: Keller Williams
Contact Person: Steven D. Timm
Address: 200 River Place. Suite 130. Monona, WI. 53716
Phone Number: (608) 520-2973
Website Link: https://stevendennistimm.kw.com/
SOURCE: Keller Williams
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