There's a growing demand for luxury short-term rentals — and people to oversee these properties. Property-management jobs are expected to grow faster than average in the next decade. The growing trend of "forever renters" — people who expect to rent properties for their entire lives rather than owning any — is contributing to an uptick in demand for luxury rentals .
With more renters and travelers seeking luxury vacation rentals, in particular, property managers are needed to vet renters or overnight guests, collect rents, and maintain properties. The US Bureau of Labor Statistics has reported that property-management jobs are expected to grow faster than the average rate for all vocations through 2032. Business Insider talked to two property managers about breaking into managing short-term vacation property and residential rentals, as well as the industry's future.
What skills are needed for property management Karen Hatcher, the CEO of Sovereign Realty & Management , manages rentals across metro Atlanta. Before starting the company, Hatcher worked in corporate sales, but after seeing her now-husband successfully flip homes, she got her real-estate license and eventually began managing properties. Although a four-year degree or certification isn't required, one state may have different requirements than another.
In Georgia, property managers don't have to be licensed but must work with a licensed broker, Hatcher said. She also said newcomers to real estate and property.