Property Rental Software Market SWOT & Competition - BlokToken.io ...

Property Rental Software Market SWOT &
                       Competition

Overview of Property Management Software
Property management software is a solution-based application that helps property managers to
manage their daily operations such as sales, planning, lease tracking, accounting, reporting, and
building maintenance. The amplified requirement for transparency in property management is a
key driver of the global property management software market.

According to a new research report 'Property Management Market by Component (Solutions
and Services), published by MarketsandMarkets™, the global market size is expected to grow
from USD 14.47 billion in 2018 to USD 22.04 billion by 2023, at a Compound Annual Growth
Rate (CAGR) of 8.8% during the forecast period.

The image below by Venture Scanner, shows the different sectors in real estate software
solutions and how many companies are in each of those sectors. Surprisingly, out of the entire
real estate software industry; property management shows as having some of the fewest
competitors in the sector, while reporting some of the highest earnings. This is good news for
new, or emerging companies in the property management software business because the market
share is big enough for an emerging company to earn their fair share of the delectable pie.

Property management software market in America

“America occupies a majority 46% of the global property management software market,
    driven by the need for rent control, increased need for business relationship, and increased
    investments in real estate,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise
    application research.

The US and Canada lead the American market for property management software, due to the
presence of many property management software vendors and customers. Vendors in the market
typically provide integrated solutions like asset management, expense management, lease
management, and collaboration management.

Property management software market in EMEA

The property management software market in EMEA is expected to be worth USD 570.9 million
by 2021, driven by increased digital marketing, Internet penetration, and property management
process automation. Germany and the UK are the leading revenue contributors to the market in
EMEA, with many organizations opting for digital property management software solutions to
collaborate with customers and market their properties. Property management software aids
enterprises to collect, analyze, and manage the data generated from social media.

Property management software market in APAC

    “APAC is expected to grow at a CAGR of close to 7% over the forecast period, the quickest
    of all the regional segments. The high market potential in emerging economies such as India
    and China is expected to drive this impressive growth,” says Ishmeet Kaur, a lead analyst at
    Technavio for enterprise application research.

The demand for property management software will rise in these countries due to a high demand
for property management process automation, increased Internet penetration, and competitive
customer responsiveness. Vendors are also micro-targeting customers and adopting personalized
marketing solutions to establish a strong market foothold.

Industry SWOT Analysis

Leases on the Rise:
Declining homeownership has sustained industry demand. Operators in the Property
Management industry manage residential and nonresidential real estate for property owners. The
industry is structurally resistant to economic downturns, primarily as a result of counter-cyclical
demand trends. Property owners often reduce costs by outsourcing property management duties
to industry operators during periods of economic turmoil to reduce additional staff and save
through economies of scale in professional management. When the national economy struggles,

the homeownership rate tends to decline as consumers and lenders alike remain cautious,
creating demand for rental markets and, therefore, property management.

Landlords and their profits are more protected during an economic downturn or recession.
During a correction period, property values decrease increasing the chances of people moving
out of their homes or stop paying their mortgages. The recourse for foreclosure is much longer
than that of an eviction of a rental property. Therefore, property managers can keep their yields
safe by replacing non-performing tenants quickly with credit worthy applicants.

Threats:
When the residential vacancy rate is high, industry demand falls, and vice versa. Since home
prices and consumer income levels influence residential rental vacancy rates, consumers tend to
rent rather than buy homes when they have less disposable income or when the price of
homeownership is high. Rental vacancy rates are expected to increase in 2019, posing a potential
threat to the industry.

As corporate profit falls, businesses tighten spending habits, discouraging them from expanding
or causing them to close branches. This trend, in turn, reduces demand for the leasing of
commercial space, a key market for the Property Management industry. Corporate profit is
expected to rise in 2019, representing an opportunity for the industry.

Who should use property management software?
In general, property management and real estate companies are the ones using property
management software. Property management firms usually designate a property owner
(landlord) to handle day-to-day operations of each property. Property management firms use
software to keep track of profits, expenses and marketing of properties, while property owners
benefit from the software to keep track of maintenance tasks and ensure tenants pay their rent
on time.

Real estate investors (such as homeowners who rent out more than one property) also benefit
from a property management solution. Because the solution automates many tasks, they don’t
have to rely on spreadsheets or paper to manage their properties.

Quick fact: According to a survey by the RRD, 85% of property managers currently use
property management software. The remaining managers who don’t use it manage less than 50
properties.

In the past, property management software was typically deployed on-premise (on the
company’s servers and computers). The proliferation of new technologies, however, have seen
vendors migrate to cloud-based deployment.

Properties that can be handled by property management software include:

1. Residential: apartment buildings and houses, mixed-use multifamily, as well as single-
   family and multiple unit properties

2. Commercial: includes office buildings, retail sites, factories, etc.

3. Homeowners’ Association (HOA): intended for condominiums and townhouses that have a
   homeowners’ association

4. Hospitality: may include hotels, resorts

5. Student Housing: houses or apartments dedicated to off-campus college students
   Although most property management software shares common features, niche-specific
   software may have features unique to a specific industry. For example, a hotel-oriented
   software can include guest check-in/check-out functionality.

The Future of Property Management Software Solutions
Increasing demand for SaaS model of property management and evolving trend of workplace
mobility are driving the overall growth of Property Management market. Budget constraints for
technological solutions can be considered as one of the restraining factors for the growth of
Property Management market.

Cybersecurity for Smart Properties

Buildings are becoming more and more connected to the Internet of Things, making cybersecurity
is a growing concern. As real estate takes on this extra virtual layer, the protection of its digital
property becomes as critical as its physical one; in many cases, the two are linked.

It is vital for property management software to take the necessary steps in ensuring their network
is secured as the industry moves further into technology-based applications, mostly using cloud
storage for sensitive information and API payment systems.

Experience Management & Community Building

Property management must take on “experience management” and community building to adapt to
the changing nature of life and work. Building Engine’s Scott Sidman led a session on this concept
and the necessity of a shift in approach to management.

Building Engines provides software that helps property managers set service delivery priorities, alert
and notify tenants, vendors, and staff, and track performance against goals. Their software was
designed “from the ground up,” first gleaning insight from industry thought leaders and customer

feedback, then building a unified platform with their needs in mind. This people-oriented approach is
one reason Sidman believes property managers need to view their duties more holistically moving
forward.

Tech Improving Operations & Efficiency

  Lastly, at a recent event hosted by CRE Tech (Commercial Real Estate Technology) at the Real
  Estate Board of New York (REBNY) in Manhattan a distinguished panel of industry experts
  addressed the more general idea that technology can help improve the overall operations and
  efficiency of property management. The panel discussed smart buildings, technology adoption by
  tenants and property managers, data transparency and sustainability, among other pertinent topics.

  The overall theme is that technology is — and will continue — shaping property management’s
  advancement. Embracing these trends will help tenants and industry insiders alike move more
  seamlessly, and harmoniously, into the future of real estate.

  Key Competitors

  Entrata:

  Founded in 2003, Entrata is a comprehensive property management software provider with a
  unique single-login, open-access Platform as a Service (PaaS) system. Offering a wide variety

of online tools including websites, mobile apps, payments, lease signing, accounting, and
   resident management, Entrata PaaS currently serves more than 20,000 apartment communities
   nationwide, including 34 of the NMHC Top 50 Largest Managers.

   Entrata’s open API and superior selection of third-party integrations offer management
   companies the freedom to choose the technology and software that best fit their needs.

   Why choose Entrata?

1. SmartProperty - The much-touted feature of smart homes arrives on Entrata with
   SmartProperty, a feature that bridges the gap between property management software and
   smart devices. This intelligent piece of Entrata allows hardware such as thermostats, lights,
   locks, and water sensors from multiple units to be connected to a central hub.

2. Build sales-magnet website with ProspectPortal - Entrata’s ProspectPortal tool makes the
   process of building a website for a listing take just a few minutes. The resulting pages are
   responsively designed, so they’ll look great on any platform or device. They’re easy to
   update in real-time, and countless templates are available to give them a customized
   appearance.

3. Powerful Entrata Core - For property managers, the most valuable product in Encarta’s
   suite may be Entrata Core. It’s the portal through which all interactions with applicants and
   residents takes place. It allows you to create and share leasing agreements and other
   documents quickly. Lessees can sign them online, so you can save time by cutting down on
   in-person meetings. It also hosts a database of all your tenants’ information and billing
   history for you to review at a glance.

   Yardi Voyager:

Established in 1982 and with over 30 offices and 5,000 employees worldwide, Yardi is a cloud-
  based property management and accounting platform that helps effectively manage your real estate
  portfolio more efficiently and competitively.

  Yardi designs, develops, and supports real estate investment management and property
  management software. Yardi offers a full suite of business solutions for the real estate market,
  including multifamily, single family, affordable, public, senior and military housing as well as
  office, industrial, and retail market segments.

  Yardi is recognized for the quality of its products, innovation, responsiveness, and customer focus.

  Why choose Yardi Voyager?

1. Comprehensive functionality. Yardi covers every aspect of property management and ties
   all departments together, making it easier to communicate with all departments and tenants
   and be hands on the job 24/7. Most platforms would usually have a few options missing, but
   Yardi is typically cited for doing a great job covering every possible scenario.

2. Efficient monitoring of tenant rent payments. Yardi Voyager gives you the advantage of
   having a reliable and efficient rent payment monitoring system. It also provides a handful of
   ready-made forms that you can customize to suit your preferences. These include templates
   for tenant ledgers, statements of account, among others. In case one of your tenant request
   for her outstanding balance or when you need to tally all rental receivables, you can readily
   generate and share such documents.

3. Excellent tracking of insurance policy. Yardi allows the automatic monitoring of insurance
   policy details for all your business stakeholders and real estate assets. The system also
   provides automated updating of ticker lists, which enables system administrators to be given
   timely notices on pending deadlines of policy renewal.

  RealPage:

  RealPage is a leading global provider of software and data analytics to the real estate industry,
  helping clients improve operating performance and increase capital returns.

  Its well-regarded software addresses the needs of industry verticals: conventional, enterprise,
  institutional, affordable HUD, student living, military housing, tax credit, senior living, single
  family, vacation rentals

  Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves nearly
  12,500 clients worldwide from offices in North America, Europe and Asia.

  Why choose RealPage?

1. Thoughtfully integrated system - RealPage’s integrated solutions, including utility
   management, resident screening, online leasing, applicant waitlist, and more increase
   efficiencies and meet all your business needs.

2. Total control over system-wide policies - RealPage gives you the ability to enforce your
   company policies across your entire portfolio. By setting company-defined business model(s)
   in the system, you can ensure that there is consistency across your sites. The system is set up
   to enforce your policies and simplify daily processes for the site.

3. Enforce paperless operations for cost-effectivity - RealPage’s fully integrated Document
   Management solution gives you the ability to cut paper waste by allowing you to scan and
   store all important documents as they relate to the unit, resident or even property level.

  ResMan:

  The company was founded in 2000, with headquarters at Plano, Texas. As one of the fastest
  growing property management solution in the multifamily industry, ResMan provides easy-to-
  use automation tools that improve operational effectiveness and productivity for conventional
  and affordable housing properties. By recruiting some of the brightest minds in the industry,
  ResMan is able to deliver intuitive software and industry-leading customer experiences.

  Built on a single platform, ResMan provides a highly intuitive solution to meet both
  operational and accounting needs for the multifamily owner/operator. It’s core platform,
  Essentials, includes the modules necessary for a property to get up and running.

  Its ResMan+ Innovation Network with its free and open API gives you the freedom to work
  with the vendors you prefer. This allows its customers to create personalized best-in-class
  solutions to meet their unique needs. Its Premier-Gold partners are seamlessly integrated into
  workflows to create a better experience for its customers.

Why choose ResMan?

1. Advanced technology in user-friendly package - ResMan uses sophisticated technology to
   provide efficiency and ease of use. End users can personalize their dashboards, readily access
   and manage document storage and undertake unrestricted resident revisions. It also
   allows flawless public RESTful API industry merging into a robust accounting GL back
   office and integrated resident portal. ResMan also has multi-channel support, so your team
   can collaborate using various platforms, web browsers, and devices.

2. Phenomenal support - Each and every person you work with from sales to implementation,
   to ongoing support are knowledgeable, extremely helpful, and friendly. You can tell each one
   of them cares about your experience.

3. Outstanding document management - ResMan effectively dispenses with the need for
   filing cabinets that take up space in your office. All your records—from resident records,
   vendor records to unit records—are kept safe and secure inside of ResMan’s software online.

  BlockPark Technologies Inc: What Separates Us from The Pack?
  “The property management Software market consists of vendors providing solutions and services
  including real estate and asset management, leasing management, asset maintenance, and support
  services to commercial clients across the globe. The real estate industry will see a huge change in
  the way processes are executed, owing to the integration of intelligent systems, machine learning,
  and artificial intelligence in property management software. In the coming years, the use of AI and
  chatbots will provide tenants with improved services and automated maintenance workflows.” -
  Houston, TX -- (SBWIRE) -- 03/05/2019

  BlockPark:

BlockPark is building innovative property management software using Blockchain technology.
  A decentralized computer system that has many benefits over a conventional centralized
  network. Most notably, blockchain ensures a trust network giving owners full transparency of
  their portfolios.

  BlockPark software is built using separate components and modules which can be interchanged
  into different platforms, and management systems allowing to integrate new technology faster,
  ensuring ultimate performance. With a definitive emphasis on technology, BlockPark aims to
  develop data systems that will use machine learning AI to develop key property performance
  applications to help owners and tenants alike maximize their potential and fulfil their specific
  needs.

  Using digital assets called BLOK tokens within the BlockPark SAAS network. All BLOK
  tokens will be security tokens that have a hybrid functionality being a dividend bearing
  security, and a medium of exchange within a defined market. By using a fixed supply of tokens
  within the BlockPark ecosystem of properties, those tokens can increase in value based on the
  growth of the company as we add more properties and subscribers to the system.

  Why Choose BlockPark?

1. Trust -
            Decentralization (Bringing blockchain to real estate)
            Transparency for Property Owners, Managers, and Tenants
            Security

   Verification of payments
         Verification of financials (Rent roll, P&L, Accounting)
         Automation (Accounting, reports, taxes, exc.)

2. Creating A New Revenue Stream - Security tokens may add additional revenue by
   implementing a medium of exchange within a controlled ecosystem. This revenue can be used
   to…

         Potentially keep rents attainable for tenants. With the use of security tokens, the total
          yield can potentially keep property owners independent from market volatility and
          instead tied to the company’s growth potential itself.
         Build housing in areas where the cost to build is higher than the cost to live. Shall the
          value of the tokens go up, the additional income generated can be added to the yield to
          make projects more viable.

3. Build & Galvanize Real Communities -

         Community profit sharing
         Tenant incentive for paying rent on time
         Encourages people to move to the building
         Encourages people to have pride in the community they live in
         Liquidation of security tokens to build more Block Parks, and grow more communities

  As a SaaS provider, BlockPark’s API’s will give our clients the best technology available and
  aims to be the leading provider in property management software by 2025. Using Blockchain
  technology and digital assets called, BLOK tokens; BlockPark will lead the property
  management software industry through a machine learning automated trust network and the
  implementation of its own currency that benefits all owners and tenants who use our property
  management software.