The author of the report analyzed that the Europe, Latin America, Middle East & Africa Rental Property Management Software Market accounted for US$ 188.83 million in 2017. The rising demand for rental property management software globally owing to the improved services, better client response, greater efficiency has resulted in the expansion of real estate business and it is expected to increase the adoption of rental property management software over the forecast period.
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Absolute Markets Insights offers latest published report ‘Rental Property Management Software Market by Deployment (Cloud-based and On-premise); by Software Licensing (Subscription License, Term License and Others); by End-User (Residential and Commercial); by Regional Outlook (France, UK, Germany, Spain, Italy, Rest of Europe, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Europe, Latin America, Middle East & Africa Insights, Industry Trends, Price Trends, Growth, Size, Supply, Demand, Comparative Analysis, Competitive Market Share and Forecast, 2018 - 2026
property management software is a solution that helps real estate and property management firms track all functions associated with their properties. These functions include advertising rental properties, gaining new tenants, collecting rent payments and property maintenance.
Property management software was traditionally deployed on-premise (on the company’s servers and computers) but in recent years, many vendors have started to offer cloud-based deployment.
Although most property management software shares common features, niche-specific software may have features unique to a specific industry.
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For example, a hotel-oriented software can include guest check-in/check-out functionality.
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Increase in population coupled with high metropolitan migration has led to a tremendous expansion in the number of housing campuses. The age-old methods of managing these apartments are not able to meet the tremendous demand and sizes of the societies.
It is essential to facilitate the management an online cloud-based user-friendly platform. Software coupled with reliable hardware allows developers to create multitenant applications with relative ease.
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This software has the ability to handle unexpected maintenance requests, property damage, tenant files, resident complaints, payment problems, and accounting issues. The property management software enables accurate documentation and monitors risk management issues.
The software also offers historical digital records. This enables property management firms to attach and refer documents, such as pictures, videos, and statements, to increase efficiency.
Increase in cyber security threat and security concerns are hindering the market growth. Moreover, rapid urbanization and growth of real estate business is anticipated to present lucrative growth opportunities to the rental property management software market during the forecast period.
Cloud based deployment Anticipated to be the Dominant Segment During the Forecast Period, 2018 - 2026
Among deployment type, cloud-based deployment is a dominant segment holding the largest market share. There is increasing demand of cloud-based deployment due to rapid industrialization and growing need for accurate documentation.
These are factors expected in increase the adoption of cloud communication platform in healthcare industry.
Rising need for Technological Advancements in Rental Property Management Software to drive the Market in Europe
Europe is estimated to be the fastest growing region in rental property management software market. This region is mainly driven by the factors such as technological advancements such as AR and VR, by which we can view the property without moving from one place to other, which leads to increasing adoption of rental property management solutions and services in the region.
Moreover, increasing digital marketing, internet penetration, and property management process automation are expected to drive the European market in coming years.
Rental Property Management Software Market is Fragmented with the Presence of Regional Players
Some of the key participants in regional market are Xotelia, HIG Capital, 123Landlord.com, Record360, Rentberry, Bia Creations, ADDA.IO, Doinn, Aptmark, Current- RMS Limited, Yardi Systems Ltd Arthur Online Ltd, ALTECiSys, Avantio amongst others. In August 2017, the leading software company Record360, for digital asset condition documentation and asset condition management, announced integration with ResMan, the fast-growing property management cloud-solution.
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- Rental Property Management Software Market – By Deployment
- Rental Property Management Software Market – By Software Licensing
- Subscription License
- Team License
- Market By End User
- Market By Region
- The UK
- Rest of Europe
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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