Published Date : May 08, 2017
ALBANY, New York, May 08, 2017: MarketResearchReports.biz has stated the addition of a new market research report to its report repository. The research publication is titled, “Global Property Management Software Market 2017-2021.”The research report offers an exhaustive outlook of the dynamics that are controlling the changes that are occurring in the global market and further assesses them painstakingly The effect of some progressive and regressive elements has also been taken into consideration with equal significance in the market intelligence report. It also delivers data on the marketing and publicity strategies, shares, and merchandises of the top drawer companies.
Property management software aids property managers in managing their everyday operations. The operations comprise building maintenance, accounting, and lease and tenant tracking. This software presents property administrators an integrated platform for viewing all their properties. It further ensures the development of several other operations regarding properties such as addressing the problems of tenants and supervising tasks related to maintenance.
The report states that the global market for property management software is expected to expand at a CAGR over 5% between 2017 and 2021. One of the main drivers of the global property management software market is the mounting demand for accurate and precise documentation. Property management software is gaining prominence among brokers, agents, and enterprises. This is due the work that is associated with large amount of data that is related to property management and are acquired from several different sources. The conventional property management methods initially comprised enormous storing space and a lot of paperwork. The adoption of this software helped in eliminating the use of paper as all the operations are recorder in computer systems and are digitized. The property management software takes care of accounting issues, payment problems, resident complaints, tenant files, property damage, and maintenance requests.
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Moreover, the property management software also monitors issues related to risk management and aids in accurate documentation of facts. The global market for property management software is likely to experience substantial growth over the coming years owing to its ability to automate and control the review of procedures related to property contract and the capability to apply metadata values to records for the purpose of organizing and correlating documents. Based on deployment, the global property management software market was led by the cloud-based software segment owing to the growing focus of organizations on decreasing the cost of IT infrastructure and enhancing efficiency, agility, and flexibility of their operations related to marketing.
Region-wise, the market was led by the Americas in the last couple of years and is likely to maintain dominance during the forecast period. This dominance can be attributed to the consolidation of the leading vendors in the region, especially in Canada and the US. The cream of the companies comprise Yardi Systems, TOPS Software, Rockend, RealPage, MRI Software, Entrata, Console Australia, Buildium, and AppFolio, among others.
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