It might be hard to believe, but 2024 quickly came to a close and 2025 is already off to an energetic start. This 2024 year-in-review and 2025 outlook highlights an exciting year at 1836 Property Management and for single-family residential real estate investing as a whole.
While 2024 might be considered a down year for the U.S. real estate market, Austin still experienced moderate success, and those in the Austin property management sector see many bright signs ahead. While home prices remained high — thanks in large part to economic conditions such as high mortgage rates — that has come down a bit in recent months.
In addition, the lower demand due to these factors have made now a prime time to buy a rental property.
There are great things ahead for 2025. But, before we turn the page and present our outlook for next year, we’d like to give a roundup of the main things that happened in 2024.
A Look Back at 2024
At 1836 Property Management, we believe wholeheartedly in transparency. We always want you to have our performance data at your fingertips.
You can always visit www.1836propertymanagement.com/stats, where you will find a full webpage of data pertaining to average return-on-equity (collected through our proprietary software REI Monitor), total properties managed, days on market, showings to leased, leasing and evictions, and onboarding.
2024 1836PM Data Overview
When it came to returns, we saw on average a solid 9.16% return on equity in 2024. On average, it took about 12 showings before a property was leased, and once listed, properties typically stayed on the market for around 42 days.
As for onboarding, when managed internally, the process usually took about 18 days. However, if external project management or owner involvement was incorporated, that timeline often stretched to about 35 days.
We are currently overseeing an average of 855 properties and managing assets valued at around $315.9 million. We have a community of 896 investors and 1,334 residents that we partner with and take care of. This data serves as a significant milestone in our 2024 Year-in-Review and 2025 Outlook.
Our Team
2024 was also a year of expansion for us at the 1836 Property Management team. We hired Jesus Trevino as an Onboarding Assistant, Karina Lujan as a Maintenance Coordinator, Sean Corcoran as a Property Assessment Technician, Herbert Jackson as a REIM (Real Estate Investment Manager) and Mayra Silva as a CSR (Customer Service Representative).
We also promoted Mike Colin from REIA (Real Estate Investment Advisor) to Executive Assistant, Carlos Gonzalez from CSR to Real Estate Investment Assistant, and Zach Eaves to Maintenance Manager.
Every year, our team performs training in the fourth quarter to ensure that our processes are refined. This helps us achieve greater efficiency and ensure compliance for all team members.
Our Achievements
The people at 1836 Property Management are key to our success. We understand how important it is to nurture a positive culture within our company, so we continue to invest in people and take care of all of our employees.
That, we believe, then gets passed down to all of our SFR real estate investing partners, who benefit from the exceptional service and support they get from our team.
In 2024, we achieved significant milestones, including earning recognition as one of the Best Places to Work in Austin, winning the 2024 City’s Best award for Outstanding Service, hosting our 1st Annual Open House (take a look at our gallery of images from the event and stay tuned for more information about our 2nd annual event), organizing a 2024 Work Function to strengthen company culture and brainstorm for the year ahead, and outperforming other brokerages in days on market.
These accomplishments have shaped our 2024 year-in-review and 2025 outlook.
1836PM Growth in 2024
In 2024, as a company, 1836 Property Management experienced a growth rate of 5.5%. In a roller coaster real estate market and relatively down market for our industry, we’re proud of this number. This growth underscores our dedication to enhancing services while adapting to market dynamics. We keep fine-tuning our operations. We’re looking forward to the positive impact this will have on our investors, residents, and partners!
What’s Ahead for 2025?
There’s a lot we’re excited about for the year ahead. We’ve been hard at work coming up with new ways that we can serve our real estate investors better.
Internal Updates
Many of these improvements include technological advances, such as the new Record My Bill service, which we launched in the fourth quarter of this year.
We are testing a new Website Chatbot Feature to improve ticket tracking and ensure we never lose communication. It’s currently live on our website! Test it out and let us know what you think. We’d love to hear your feedback!
Our team is making additional improvements to our proprietary backend software to enhance its capabilities. We’re integrating automation as much as possible to ensure our team members have more time to connect with clients. And we’re also adding new tracking metrics to ensure we’re as efficient as possible.
The Market
In terms of the real estate investing market, we see a lot of opportunities in the year ahead. We expect rental property pricing to increase next year, potentially boosting asset value.
From an Austin property management standpoint, we urge our investors to always stay on top of maintenance, listings and pricing their rental property right so they stand out among the competition and attract high-quality tenants that stay for a long time.
The demand for rental units hasn’t gone anywhere, and it’s not likely to go anywhere but up with all the massive business developments going up in the Austin region.
This is why we have high hopes for 2025.
Partner with 1836 Property Management
While 2024 was certainly memorable, we’re never one to rest on our laurels. At 1836 Property Management, we’re always looking to achieve more and serve our single-family residential real estate investing partners better.
That’s why we’re always on the lookout for ways we can improve our operations so that you, too, can improve your returns.
For more information, or to get started as one of our investor partners, please contact us today.
And in the meantime, cheers to continued success in the New Year!
