Property Management Software Market
The market for services and software related to property management is booming.
Globally, or just in the US, Canada, Australia, Germany, and the UK, the full potential of property management business is generated via SaaS software tools that exist on the cloud.
The advantages of property management software are compelling, in fact, without it, your outlook for success is dim. Given many older firms still use hosted legacy solutions, small property management startups are gaining new accounts quickly due to the SaaS software benefits.
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 Advantages 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 software as a service solution with powerful accounting, communications and payment services all via SaaS.
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?
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