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Property Management Market
Property Management Market was around US$ 13.2 Bn in 2017 and is expected to grow at a CAGR of around 7.16% in the forecast period of 2018–2026.
The process of managing property is one that is available for lease by maintaining as well as handling everyday activities centered on the piece of real estate. Property management may also involve seeking out tenants for occupying the space, collecting monthly rental payment, maintaining the property, along with the upkeep of the grounds.
Rent collection is one of the largest responsibilities that has boosted the property management market.
Keeping track of rent payments along with maintaining a track on the missed payments is crucial for the income flow from owned rental property. Routine inspections of a rental property further help to ensure that there are specific damage or activities that might violate the lease agreement.
Advertising vacancies, rent collection and evictions, repairs and upgrades assistance, along with establishing and monitoring monthly rent price are some of the drivers for the property management market. Sometimes it is the budget constraints for the adoption of technological solutions that might restrain the growth of the property management market.
The solutions segment are instrumental in offering reliable, cost-efficient, time-saving, and scalable property management features for end-users and enterprises. The overall services segment is further expected to play a vital role in the market growth of property management and has its usage across deployment and integration; consulting, and support & maintenance among others.
The property management market is segmented by component, end-user, application, and region. The end-users segment in the property management market includes property managers and housing associations. The property managers segment is expected to hold a larger market size, because of an increasing number of real estate and commercial property developments. In addition to this, it is the availability of simple and comprehensive property management software solutions in the property management market that has encouraged property managers to adopt them.
North America is estimated to hold the largest market size in 2018. APAC is projected to grow at the highest rate in the global property management market because of advanced and dynamic adoption of new technologies in real estate projects.
The key players of the property management market include IBM (US), Oracle (US), SAP (Germany), Hitachi Vantara (US), and Trimble (US).
For More Information Visit: https://www.maximizemarketresearch.com/market-report/property-management-market/12628/
Property Management Market scope:-
Property Management Market, By Component
Property Management Market, By End-user
• Property Managers
• Housing Associates
Property Management Market, By Application
Property Management Market, By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Property Management Market:
• Hitachi Vantara
• MCS Solutions
• Indus Systems
This Report Is Submitted By @Global Market Research Company
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