Evolution of Rental Property Management and Ownership Trends

Rental property management has evolved significantly, transitioning from a hands-on, local approach to a tech-enabled remote process accessible even to individual owners. The advancement of technology has allowed for efficient management of a large pool of properties, not limited to institutional investors but also feasible for individual property owners like grandparents. The trend of purchasing middle-class homes for rental purposes is prevalent, impacting housing markets and causing competition between individual investors and institutional buyers. Data shows a uniform national distribution of in-state ownership, indicating increased accessibility to manage multiple properties remotely. However, there is a noted lack of connection and care for properties owned by distant owners, particularly evident in cities like Detroit.