Property management firms increase staff to meet growing rental demand

According to a recent survey conducted by the National Multi Housing Council (NMHC), apartment rental property management firms are increasing their staff in order to meet the rising demand for rented units.

The NMHC's annual Apartment Compensation Survey is based on data collected from over 50,000 employees at 93 large apartment firms across the country.

According to the 2012 survey, firms boosted their employee numbers by 11 percent since the 2011 survey. The positions in highest demand were those of maintenance, leasing and rental property management officials.

The hiring jump stems from the recent tightening of the multifamily housing market. According to the survey, 77 percent of firms raised their financial performance since 2010, and the upturn is expected to continue.

The increased number of units needing management could also be a contributing factor. The survey comes on the heels of a government report that showed the seasonally adjusted rate of construction of developments of housing projects with five units or more increased by 58 percent since June, and 47 percent since 2011.