A new Zillow survey of landlords reveals the
most burdensome rental management activities
SEATTLE, May 1, 2023
/PRNewswire/ -- Peak rental season is approaching, and a new set of
landlords could be entering the market. Zillow economists
predicted that 2023 would bring a surge in first-time
landlords after record-low mortgage rates spurred increased
investment in second homes in 2020 and 2021. In March 2023, Zillow saw a 22% year-over-year
increase in landlords listing their properties for the first time
using Zillow Rental Manager (Zillow's suite of free property
To provide insight into the commitment of managing a rental
property to this new class of landlords, Zillow surveyed first-time
and repeat landlords to learn what the most burdensome parts of the
process are for them. The typical (median) landlord who completed
the survey reported having two rental properties.
According to Zillow's survey data1, almost
all landlords (92%) said repairs or maintenance were among the top
three most demanding responsibilities of managing a rental
property, and 40% considered it the No. 1 most burdensome.
Screening tenants (reading applications, completing background
checks and credit checks) was a close second, with 71% of landlords
reporting it among their top three most burdensome activities.
More than one-third of landlords (36%) said they wished they
would have known how hard it would be to find reliable renters, and
managing the rental (communicating with tenants, accounting, etc.)
was more time-consuming than they had anticipated. Thirty-four
percent also noted that they wished they would have known the
leasing process (processing applications, scheduling tours, writing
a lease, etc.) would take more effort than expected.
"Investing in a rental property can provide reliable income and
housing for a renter who needs it, but it's crucial for landlords
to understand the responsibilities," said Manny Garcia, a population scientist at Zillow.
"Many landlords wish they had known more about the effort required
to find tenants and keep the property in good condition."
Staying on top of the needs of current tenants and leasing a
rental take time and effort. Zillow Rental Manager provides
landlords with the right tools to support them throughout the
process, for free. In addition to offering housing providers an
easy way to create their listing and get free access to the most
visited rental network2, Zillow Rental
Manager has a ton of resources available now (and coming soon) to
help them manage their portfolio and optimize their investment.
Among those resources:
- Applications and Tenant Screening: Landlords
using Zillow Rental Manager can enable Zillow's universal
application process for prospective tenants. Applicants pay a
one-time screening fee on Zillow — and it doesn't cost landlords
anything. Landlords receive a potential tenant's application,
including a background check, credit report, eviction history and
- Leases: Landlords can upload and sign an existing
lease or customize a brand-new one. Zillow's free online lease
builder guides housing providers through each step of the drafting
process, so they don't have to guess what's covered. In 34 states,
landlords can access templates tailored to their region and
customize based on parameters regarding parking, pets, etc.
- Payments: Rent payments can be deposited directly
into a landlord's account when that landlord opts into payments via
Zillow Rental Manager. Plus, renters can set up autopay so
landlords know when they'll get paid each month. Zillow's online
payments are free for landlords, and there's no fee for tenants who
pay with ACH. Tenants can also pay rent with a credit or debit card
for a small fee.
- Maintenance Tracker (coming soon!): When launched,
landlords will be able to create a checklist of maintenance needs
for each of their properties as well as track their tenants'
requests, keeping everything organized and in one place.
About Zillow Group
Zillow Group, Inc.
(NASDAQ: Z and ZG) is
reimagining real estate to make it easier to unlock life's
next chapter. As the most visited real estate website in
the United States,
Zillow® and its affiliates offer customers an
on-demand experience for selling, buying, renting, or financing
with transparency and ease.
Zillow Group's affiliates and subsidiaries include
Zillow®; Zillow Premier Agent®; Zillow Home
Loans™; Zillow Closing Services™; Trulia®; Out
East®; StreetEasy®; HotPads®; and
ShowingTime+℠ , which houses ShowingTime®, Bridge
Interactive®, and dotloop® and interactive
floor plans. Zillow Home Loans, LLC is an Equal Housing Lender,
NMLS #10287 (www.nmlsconsumeraccess.org).
1 Zillow Group Population Science
conducted a nationally representative survey of more than 1,000
U.S. adults who own at least one property that they rent out.
Media Metrix® Multi-Platform
custom-defined list: Zillow Rentals, the
Apartments.com network, Rent.,
ApartmentList.com and Zumper Inc.
Total Audience, January–-December
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