Assessing the Need: The Multifamily Housing Industry, the Universities, and the Next Generation of Property Managers

Abstract

Residential property management (RPM) is an academic program offered increasingly more in today’s colleges and universities. Due to the nascence of these programs, there has been no research performed on their overall effectiveness. This case study analyzed the results from surveys provided to both RPM students prospectively entering the multifamily workforce and executives within established property management firms. The student survey examined variables that best prove successful in generating interest in RPM classes or in choosing RPM as a desired field of study. The executive survey determined which types of firms would most support the hiring of university-trained students. In addition, the executive survey provided insights on the types of subject matter for RPM personnel, which is helpful as RPM programs continue to develop. The overall results suggested that RPM programs have more appeal to males, housing-related majors, and those with a positive impression from their own property managers. In addition, exposure to the RPM class created a significant improvement in one s impression of the industry. Meanwhile, multifamily executives with large numbers ofemployees per community supported a university-educated community manager, with pay significantly higher than those without a college degree. Industry suggestions regarding curriculum topics varied across regions.