Property Management Software Market Share

The North American property management software market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising demand for rented properties, followed by the growing presence of tenants in the region, the increasing number of houses rented by the residents, and the availability of various property management software for landlords. For instance, according to the 2021 statistics, around 42 million, or 34% of U.S. households, rent their homes. Property management software has shrunken the need to hire third-party property managers by landlords as PMS evades human errors and streamlines rent collection processes through automation.  Moreover, it simplifies tracking finances, reduces communication gaps, and stores and leases documents and contracts directly between landlords and tenants. All such factors are also driving the growth of the market in the region. Furthermore, there is a growing awareness related to real estate crowdfunding among the people in the region, that is predicted to boost the market’s growth in the region.