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The presentation highlights recent research conducted by the University of Georgia's Department of Financial Planning, Housing, & Consumer Economics. The specific focus is on an emphasis that the department made to implement residential property management classes within the general housing curriculum. The results are dual track, in that they cover responses given by both students and apartment industry members, two important stakeholders in the overall development of a successful program. The research team would also like to thank Maureen Lambe of the National Apartment Association for her help in making available NAA membership lists to make such industry surveys possible.
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Gauging Stakeholder Interest in Residential Property Management Programs
By: Andy Carswell and Debbie PhillipsHACE 4300
WHAT WE PLAN ON COVERING
• Introduction/State of Industry
• Description of Industry Survey/Results
• Description of Classroom Survey/Results
Industry Snapshot
• Rental Housing is a Major Force in the U.S. Economy:– 30.6% of U.S. households
are renter occupied households.
– 34.6 Million households sheltering 81.5 million residents.
– Rental housing accounts for about 2% of Gross Domestic Product, placing it on par with industries such as transportation and utilities.
Industry Growth
• Industry employment totaled 670,000 jobs in 2004, up 4% from December 2002.
• Employment is predicted to rise by 11,000 jobs per year reaching 738,000 jobs in 2010.
• Current apartment inventory, 22.5 million apartment homes, grew by 7% from last year’s inventory of 21.1 million homes.
Management
• The typical apartment manager:– Operates an apartment
community with 248 apartment homes.
– Leads a team of 6 on-site staff.
– Develops and executes an annual budget of $2.1 million.
– Maintains a real estate asset valued in excess of $12 million.
DESCRIPTION OF RPM EXECUTIVE SURVEY
• Origins UGARF grant• Target Audience MF professionals within GAA• Survey Disbursement Period August – October
2005• Intent
to identify the types of classes most in demand by industry members to find out what type of demand there is for RPM programs like ours in Georgia to determine characteristics of MF executives interested in RPM major
ODDS RATIO RESULTS
• No significant results for: # of years working in the industry * interest in RPM amount of corporate training performed * interest in RPM
• Significant results occurred with: Non-owner (2.61X) p = .044 Larger (2.80X) p = .036 GA+ (3.23X) p = .011
STUDENT SURVEY RESULTS
Careers in RPM
• 60% of students surveyed responded that they would be “Very Likely” or “Likely” to consider a career in the field of Residential Property Management.
• 65.9% said they felt “Very Strongly” or “Strongly” that Residential Property Management should be offered as a major.
