The Evolution of Residential Property Management: From Caretaker to Income Maximization Managers

Abstract

The professional management of residential rental real estate in the United States had its true beginning during the Great Depression; however, the evolution began much earlier and continues today. This article addressed the evolving role of rental housing resulting from economic, demographic, social, and political changes. Using this historical framework, the authors traced the evolution of the role of the property manager from “caretaker” to “emerging professional manager” to “sales and marketing manager” to the “income maximization manager” of today.

Additional information

Notes on contributors

Rosemary Carucci Goss

Rosemary Carucci Goss is Residential Property Management Advisory Board Professor, Department of Apparel, Housing, and Resource Management, Virginia Tech, Blacksburg, VA

Howard L. Campbell

Howard L. Campbell is Assistant Professor, Department of Family and Consumer Sciences, Ball State University, Muncie, IN.