Property Management Market Size, Share, Growth Analysis, By Deployment(Cloud, On-Premises), By Application(Residential (Multi-family Housing/ Apartments, Single-family Housing, Others), Commercial (Retail Spaces), By End-user(Housing Associations, Property Managers/ Agents, Property Investors, Others), By Region - Industry Forecast 2024-2031

Global Property Management Market size was valued at USD 3.04 billion in 2019 and is poised to grow from USD 3.15 billion in 2023 to USD 4.85 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

Property management refers to professional services provided by individuals or companies to run real estate on a daily basis. It is common for property owners or investors to outsource property management as they may have neither time, skills, nor finances to manage their assets by themselves. The property manager acts as a go-between the owner and the property, making sure that the latter operates smoothly and gets its value maximized, including cash generation, e.g. collection of rent. The focus of residential property management is on apartments, condominiums, single-family houses, or student housing. Commercial property management is aimed at overseeing office buildings, retail or industrial spaces, warehouses, or mixed-use properties. Property management covers special-purpose properties, such as holiday rentals, marinas, or even self-storage. 

The set of services rendered by the property managers depends on the type of the property, the requirements of the owners, and the management contract itself.  The demand for property management during the forecast period will continue to grow concurrently with the population. When the number of residential properties increases, residential property managers’ demand will also rise. The commercial segment of asset management will grow at a stable pace. Commercial property managers maintain non-residential properties such as retails, offices, industrial buildings, and warehouses. They ensure that the commercial property owners are fully appraised regarding their administrative and financial records and receive reminders about all due statutory fees, mortgages, inspections, repairs, and services. 

US Property Management Market is poised to grow at a sustainable CAGR for the next forecast year.