The global property management market size is expected to grow to USD 22.04 billion by 2023 and the global real estate management software market is expected to reach USD 12.89 Billion by 2025. Huge!
Here we’re going to open up an HOA and Property sector and software for rental property management and apartment management, in this context. Why you need software, how to develop it, and how your pains will be killed. Let’s dig in and find out.
Here’s a simple thesis you have to keep in mind: the larger the entire real estate market becomes, the bigger the place for software.
With a sharp increase in the rental businesses, landlords are realizing the need for an advanced property management software to keep business running smoothly. Owners can simplify all the difficulties and handle day-to-day tasks with a software product customized to define their needs.
Property management software helps to track back-office operations and provides the necessary management functionality with a focus on business expansion, convenience, and financial oversight. In your business reality it means having a software brings you competitiveness, unlimited freedom, and a forward-looking perspective.
You may have seen this natural progression, when typically you start off with one property and small apartment business and you don’t really need this huge software to manage the house. It’s a step, where you need not more, but the most requested software features, are the following:
If you’re going to grow your portfolio, you probably will start to notice how many property issues here and there occur and that all of them must be fixed in a quick and qualitative way. From here is when you get a sense of how much your time is worth.
The thing about software is, it saves you a ton of time. We help you out to point some more nice-to-have features for your software, that property manager may need, depending on specific owner’s or company’s goals.
Starting with the core indispensable functionality is a great head start. But if you want to expand your property portfolio successfully, you know when you get bigger, the thrive of your business is in extensions. Here are some insights into what your software may be lacking.
The Internet of Things (IoT) can provide efficient operation and maintenance, but it’s the analyst that brings the greatest business benefits. The ability to use large amounts of data and get business information can be a turning point in the game.
Advanced analytical technology allows you to detect patterns and trends, which then allows you to make more reasonable decisions about the further development of the business. Uncertainty makes companies look for the best-in-class innovations that offer predictive analysis, stimulating demand for long-term portfolio planning, risk reduction, and strategic planning optimization.
Property management can introduce artificial intelligence in many areas: from engine recommendations and the Intelligence Value Argument (IVA) to data analysis and improved safety. Do you want to predict water network wear and tear and reduce maintenance costs using large amounts of data and predictive analysis? If you want to detect patterns in your workflow, you need artificial intelligence.
Machine learning is widespread used, and continues to get raised, nothing new here because this trend continues to pay the way! But with such technologies, you spend less time manually collecting data and more time moving towards optimization goals.
Energy sources that are renewable, help to reduce the cost of utility services, so it’s efficient and environmentally sustainable. Aiming to reduce waste of CO2 emissions will encourage owners to invest in equipping buildings with solar panels and other renewable energy sources. This may bring the industry closer to the manufacturer, rather than to the consumer.
Cybersecurity issues invite best new solutions. Blockchain-backed smart contracts can effectively deal with mistakes in public records, illegal actions, will-related problems, forgeries and transfer of property rights.
So, how to build your own software here and now? A completely reliable vendor is someone who you really need.
Choosing a property management software development company, that operates professionally, is an important step if you want to go with the best solution from the beginning. A vendor must align your vision and goals with the technological realities, that’s where the next big win will be.
The reasons as to why to build your property management software are abound. You may need more profitability in your goals or you want to boost your business immediately instead of just keeping the building occupied and standing.
The NIX team created a property management platform, with both web and mobile apps, that is designed to handle all aspects of running a successful property business. The main idea is to easily configure the multi-modules platform, that is an all-in-one solution, for definite property management needs in different domain segments: rental, flats, condominiums.
Technologically, it takes a little time and effort to customize a platform for particularly your property management needs. An administrator of the property can choose a specific set of features, add or remove certain modules, depending on property needs.
The platform also provides users with a mobile app that has an easily understandable interface. Our application is tailored to the users needs and solving their issues, namely brings the following features:
Modules of the platform can be interconnected with other external services and as they are working separately, but interlinked, it ensures the necessary security: storage of data on residents, their payments, personal information, etc.
The NIX team also has implemented such PMS solutions for different clients:
If you want to figure out more of our expertise, please contact us. Whatever your motives, we are ready to create a product that really addresses your current needs and will be easily expanded and adapted in the future.
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