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Property Management Market Size: $1.8 Billion

Property Management Market 2020

The market for services and software related to property management is booming. Globally, or just in the US, Canada, Australia, Germany, and the UK, there are trends that fuel the need for professional management.

Property Management SoftwareThe advantages of property management software are compelling, in fact, without it, your outlook for success is dim.

What some property managers, property investors, and landlords may not realize is that on demand property management solutions grow profitability.

In fact, the emphasis is now on maximizing returns (positive cash flow), especially in the growing multifamily market. and only good software can meet this “on demand” requirement.

The Global PM Software Market

The total global market for this software is expected to $1.8 Billion by 2026. Growth is being driven by a number of factors including technology infrastructure, business efficiency, regulation, and property market size.

The global property management software market is expected to reach a value of US$ 1,838.5 Mn by 2026 on account of the high rate of property development across the world. The market is projected to expand at a CAGR of 7.2% during the forecast period from 2018 to 2026. North America is anticipated to be a rapidly expanding region of the market, followed by Europe and Asia Pacific during the forecast period — Transparency Market Research

Okay, suffice to say it’s a big market that serves a lot of real estate professionals. Whether it’s the US, UK, Australia, Canada or even China, it’s a major thing.

A Revolution in Property Management

The software and its accessibility is revolutionizing how property management is done, and what property management companies can accomplish.

The multifamily, short term rental, and community housing association sectors have been revolutionized by this new efficiency of cloud based property management software.

While all-in-one software did draw attention and has been promoted aggressively in advertising, the real growth in the industry is software that augments property management company’s current legacy software.

Growing Success While Minimizing Risk

Complete overhauls of a company’s business processes is risky, which is why some property management companies have delayed adoption.

A few early adopters jumped in with both feet only to realize all software has limitations. They would have discovered that if they’d tried it out and implemented more slowly and integrated modules. That creates better planning, implementation, and reduces relearn/rework. Your time and money are precious, so when software mentions modularity and cloud services, you’re on the right track.

Rising emphasis of property managers and owners on scalability, cost-efficiency, and time savings is contributing to the expansion of the property management software market — Transparency Market Research Report

One thing is certain, cloud based PM software opens up efficiency gains, saves money, service improvements, and contributes to better rental yields.

Key Advanages of Cloud Based Property Management Solutions

We discussed the many advantages of cloud based property management software and how it’s the least expensive and most powerful of property management tools. ManageCasa is a cloud based solution.

Here’s a quick recount of advantages that are driving cloud based software adoption:

  • single location for document storage, online rent payment, and tenant communications
  • single login access via any device
  • SMS and email communications
  • improved data accuracy and better reporting
  • improved communication and collaboration between vendors and PM staff
  • transparency in operations for investors and regulators
  • enhanced security

Whether you’re an HOA manager in San Francisco or New York, you’re able to communicate more effectively with tenants and board members. More reach and better impact makes you more effective.

If you’re a landlord, these communication tools help you get the management support and results you want.

Landlords are where tenants meet property management. With better preparation and coordination you’ll enjoy less time wasted on every front and see conflicts more easily resolved.

Why not check out some revolutionary Cloud based property management software right now?

Take ManageCasa for a Test Drive!

 

See also: Cloud Software | Property Management Trade Shows | Denver Housing Market ForecastChicago housing Market | Apartmentalize DenverAccounting Software for PropertiesProperty Management | Software for Airbnb Rentals | Vacation Rental SoftwareProperty Management Software Germany | Berlin Property ManagementFree Wifi for Tenants | What do Tenants Want?Customer Service Excellence | What is Property Management Automation | Housing Market Honolulu & HawaiiCalifornia Housing Market | San Jose Housing Market | Cloud Property Management Software | Positive Cash Flow Properties | Which is Best type of Rental Property? | UK Housing Market | Australia Housing Market 2019 | Multifamily Housing | Los Angeles Rent Prices | Online Rent Payment | HOA Management Software | Best US Cities to Buy Property | Grow Rental Property Yield

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