(Free-Press-Release.com) April 22, 2009 — April 7, 2009 Chesapeake, VA – The National Association of Residential Property Managers (www.NARPM.org) is pleased to announce the successful launch of Rental Home Professionals (www.RentalHomePros.com), which functions like a multiple listing service for rental homes. In addition to marketing the rental homes, like several other internet listing services, www.RentalHomePros.com will also gather information on transactions so that professional managers can track data on vacancy rates, average days on market, average rental rates per bedroom or per square foot, and several other factors that will help property managers do a better job of maximizing a landlord’s return on investment.
“For years the National Association of Realtors and the National Apartment Association have done a great job of providing statistical data to their members and the public to describe what is happening with single family sales and apartment properties. We (NARPM) want to provide that same information to the owners and managers and 1 – 4 family rental homes” said Mike Nelson of Atlanta, the NARPM volunteer heading up the project. “For years some real estate experts referred to 1 – 4 family rental properties as the ‘shadow market’ because they knew it had an impact on single family sales and multi-family rentals, but no one knew to what degree because no data was available. We want to bring 1 – 4 family data out of the shadows and into the light. Millions of people own a small rental property and we think they would like to know what is happening in their rental market. “
Over a hundred companies have already joined, many from the Atlanta Chapter of NARPM. The site is already generating a lot of web traffic and transactions. NARPM will publish its first report on the data gathered later this year. You can find out more at www.RentalHomePros.com.