Find stats on top websites
Industry Landscape
The property management software industry is experiencing robust growth, driven by increasing digitalization, demand for automation, and the need for efficient operations across diverse property types. Cloud-based solutions and comprehensive platforms integrating financial, leasing, and maintenance features are leading the market. Competition is high, with established players and new innovators continually enhancing offerings.
Total Assets Under Management (AUM)
Number of Rental Properties Managed by Software in United States
~Approximately 25-30 million rental properties
(5-7% CAGR)
Growth is driven by: - Increasing adoption by small and medium-sized landlords. - Expansion of property management companies. - Automation of traditional manual processes.
Total Addressable Market
5.5 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Predictive Analytics
Utilizing artificial intelligence to forecast trends in rental rates, tenant churn, and maintenance needs, optimizing property performance and reducing vacancies.
Blockchain for Property Transactions
Implementing distributed ledger technology for secure, transparent, and immutable records of leases, payments, and property ownership, enhancing trust and efficiency.
IoT for Smart Property Management
Integrating smart devices and sensors within properties to monitor energy consumption, security, and maintenance proactively, enabling remote management and personalized tenant experiences.
Impactful Policy Frameworks
Fair Chance to Housing Act (various states, ongoing)
This policy, adopted by several states and cities, limits or prohibits landlords from inquiring about or considering an applicant's criminal history during the initial screening process.
It requires property management software to adapt screening processes and background check integrations to comply with varying state and local regulations, potentially impacting tenant acquisition strategies.
State-level Data Privacy Laws (e.g., CCPA, CPRA in California, Virginia CDPA, Colorado CPA)
These state-specific laws, such as the California Consumer Privacy Act (CCPA) and its successor the California Privacy Rights Act (CPRA) effective 2023, grant consumers more control over their personal data collected by businesses.
DoorLoop must ensure robust data security measures and transparent data handling practices for tenant and owner information, affecting data storage, access, and deletion protocols.
Eviction Moratoriums and Tenant Protections (various states and localities, post-COVID-19)
While federal eviction moratoriums have expired, many states and localities have enacted or extended their own tenant protection laws, often requiring stricter procedures for eviction and providing rental assistance programs.
Property management software needs to update features related to rent collection, late fees, and eviction notice generation to reflect the complex and varied legal requirements, impacting cash flow management and legal compliance.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
