I commissioned a survey of 753 rental owners

In 2017, a comprehensive survey of landlords conducted by Harris Poll found that 70% of rental properties in United States were self-managed.

It was called “The Iceberg Report”, and it came as a revelation to the property management industry at the time.

This new data opened our eyes to a “blue ocean” of opportunities—not by snagging units from our competitors, but by convincing self-managing landlords to hire a professional in the first place!

That report made such an impact, that over the last few years I kept wondering… has anything changed since 2017?

Are 70% of property owners still choosing to “go it alone” and self-manage? Or has that number decreased (or even increased)?

If it’s changed—why? What is the value that property owners find in professional management in 2024? What do they wish property managers would do differently?

A quick google search seemed to indicate that there was no update to this report forthcoming, and nothing comparable to reference.

Earlier this year I got so agitated about this that I actually called Harris Poll, the folks behind the original report, and asked about it. They confirmed what I already feared—nothing was going to happen with Iceberg report updates. Another dead end.

I tried to put this out of my mind and get back to work… but it kept coming up. I was starting to become REALLY irritated that our industry was essentially operating in the dark about our customers and how they really felt about us.

So the next day I called Harris Poll back and flat-out asked them: Just exactly how much it would cost to commission a new survey of rental property owners?

They quickly worked up a proposal and scheduled a call to discuss. I was so excited about the idea of having some updated industry data, that I green-lit the project and decided I would figure out how to cover the cost later.

I hung up with them and instantly called Jordan Muela. He was in from the minute he heard the words “original research.” He flew out to Columbus shortly thereafter and we spent a day brainstorming how best to deliver value to the industry with this report.

The Report & Findings

So: Jordan and I have commissioned a NEW, comprehensive survey of rental property owners. On spec.

Along the way, we pulled in some experts to validate our approach and help us interpret the findings, and are thrilled to announce Jay Parsons and Rob Hahn as co-authors of the report.

The questions were finalized, the survey was fielded, and we have the results!

The final report is being prepared, but here’s a taste of what to expect…

Key stats of interest (by the way, this report is compiled from 753 responses):

I’m particularly proud of establishing the first-ever NPS benchmark for our industry (from the property owner’s perspective).

How To Get Your Copy

By the way, we’ve been quietly approaching sponsors for this new report. We still have a room for a few more, so please reply to this email if you would like more information on how to have your brand associated with original research that helps shape the future of the industry.

The report is being released at LeadSimple University, taking place this December in Austin! Jordan I will be on stage to discuss the report, findings, and our analysis of what it means for the industry. Attendees will receive a complimentary hard copy of the report to take home. I’ll be around all week and look forward to chatting with attendees informally about the results.

By the way, you don’t need to be a LeadSimple customer to attend. Just look at this dynamite lineup for 2024:

I was able to get a special conference discount for newsletter subscribers interested in the report: $285 off your ticket. But this deal expires on Tuesday 11/5, so don’t wait. Discount code LOHMANN should already be applied with this special link:

Can’t make it to Austin? The report will be available shortly after the conference. All you have to do is make sure you’re subscribed to this newsletter (see below), and you’ll receive instructions on how to get your own copy after release.

Alright, back to our regularly scheduled programming on Friday, starting with my takeaways from NARPM National in Dallas. Chat then.

-Peter

P.S. Email me if you’re interested in sponsoring this report.