The Report Covers US Property Management Market Analysis & Growth. The Market is Segmented by End-User (commercial and Residential) and by Service (marketing, Property Evaluation, Tenant Services, Maintenance, and Other Services). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.
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US Property Management Industry
US Property Management Market Size
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| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 81.52 Billion |
| Market Size (2029) | USD 98.88 Billion |
| CAGR (2024 - 2029) | 3.94 % |
| Market Concentration | Low |
Major Players *Disclaimer: Major Players sorted in no particular order |
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US Property Management Market Analysis
The US Property Management Market size is estimated at USD 81.52 billion in 2024, and is expected to reach USD 98.88 billion by 2029, growing at a CAGR of 3.94% during the forecast period (2024-2029).
For the last 5 years, the US real estate market has drawn plenty of investments. In the residential sector, homeownership rates are declining due to various factors, ranging from growing prices to changes in consumer attitudes toward buying a house. These have resulted in a favorable market for renters, which is also the major reason for declining vacancy rates.
- The epidemic has boosted the use of digital technology by real estate companies, property managers, and homeowners associations in the United States. In 2020, industry participants offered landlords cloud-based software to maximize rent collection, satisfy regulatory criteria, maintain financial performance, retain renters leased, and manage those tenants effectively.
- RealPage, a real estate analytics and software business launched a new virtual tour solution for apartments last year, which included on-demand tours with a live agent. This solution enables prospective tenants to explore interactive property material such as aerial views, floorplans, 3D walk-throughs, interactive site maps, amenities, and other points of interest. As a result, the coronavirus epidemic is projected to accelerate the use of property management solutions.
- The economic recovery has fostered the commercial markets in the commercial sector, leading to increased demand for office space. The growth of rental markets has led to a huge growth in the property management industry. There are 307,621 Property Management businesses in the US in the current year, an increase of 4.1% from the last year.
US Property Management Market Trends
Smart Property Management Software Based on IoT to Drive Market Growth
Implementing loT technology and smart devices are expected to witness an increase in penetration in various aspects of the real estate business. The need for loT is continuously increasing in the real estate business in order to improve customer serviceability.
Software providers have begun to integrate technology with software to improve communication between the property and its administrators, owners, investors, and others. For example, Capstone Partners, a Texas-based developer, teamed with IOTAS, an IoT solution provider, to create a linked smart home environment for tenants. As a result, the increasing penetration of smart homes is likely to drive property management software solutions.
The massive amount of data created by all linked devices, platforms, and appliances may be used to improve software functions. Furthermore, with data analysis, the adoption of loT is projected to assist property owners in recognizing connected device performance and taking appropriate call-to-action to deliver better services to renters. According to Johnson Controls' building efficiency panel poll, 70% of respondents feel that introducing IoT to anticipate and diagnose trends will fuel demand for the software.
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Growing Opportunity in Hotel Property Management Market
Hotel property management is one of the fastest-growing sectors in the property management market, as the demand far outpaces the new supply due to the stressful nature of owning and maintaining a hotel. An increasing number of hotel owners are willing to offload the stress and avail the services of an already mature property management market in the United States.
Furthermore, hotel owners are rapidly understanding the value of property management services and their access to direct labor, which includes revenue management, HR, accounting, and marketing. All this can be accessed at a fraction of the cost, as property management companies have multiple clients. The opportunity is huge in the market which enabled the vendors to rapidly upgrade their services and increase their client base.
US Property Management Industry Overview
The leading players in the property management market in the United States focus on obtaining knowledge in revenue management, payment services, communication solutions, facility management, and lease management to improve their software capabilities and product applicability. This technique assists organizations in increasing their corporate footprint in the United States.
Along with the acquisition, a significant emphasis on partnership and cooperation assists major stakeholders in providing new goods and experiences. Furthermore, the development and growth of the existing product range are assisting suppliers in improving their market position. Some of the major players in the market are Greystar Real Estate Partners, JLL, Lincoln Property Company, CBRE, and many others.
US Property Management Market Leaders
GreystarReal Estate Partners
Lincoln Property Company
CBRE
Jones Lang LaSalle Incorporated
BH Management Services LLC
*Disclaimer: Major Players sorted in no particular order
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US Property Management Market News
- October 2022: LPC West, the West Coast subsidiary of global real estate company Lincoln Property Company, has bought an approximately 135,000-square-foot industrial property in Poway, a community in northern San Diego County, in an off-market transaction with New York Life Investors. The building is specially equipped to support distribution and sophisticated manufacturing due to its position on the I-15 corridor with quick highway access to Los Angeles, Riverside, and Orange counties, as well as Mexico.
- October 2022: Greystar and Origin Investments have started work on their USD 83.1 million joint venture community in Colorado Springs, Colorado. Elan Rio Grande, situated at 602 S. Wahsatch Ave., is a Class A complex with 207 apartments. This is the third Greystar-Origin project in Colorado Springs, and this property is being constructed alongside another property in the partnership's portfolio.
Property Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness - Porters Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 PESTLE Analysis
4.7 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
5.1 End User
5.1.1 Commercial
5.1.2 Residential
5.2 Service
5.2.1 Marketing
5.2.2 Property Evaluation
5.2.3 Tenant Services
5.2.4 Maintenance
5.2.5 Other Services
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Greystar Real Estate Partners
6.2.2 Lincoln Property Company
6.2.3 CBRE Group
6.2.4 Jones Lang LaSalle Incorporated
6.2.5 CoStar Group Inc.
6.2.6 Pinnacle Property Management
6.2.7 Equity Residential
6.2.8 FPI Management
6.2.9 AvalonBay Communities
6.2.10 WinnCompanies*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Implementation of Cap on Rental Prices
7.2 Increasing Number of Property Management Startups
8. APPENDIX
US Property Management Industry Segmentation
A property management company deals directly with the tenants or prospects, saving the property owner's time, as they do not have to worry about marketing the rentals, negotiating with the tenants, handling maintenance and repair issues, collecting rent, responding to tenant complaints, and even pursuing evictions. A property management company brings experience in terms of handling property and provides the owner with optimal solutions.
The US property management market is segmented by End User (Commercial and Residential) and Service (Marketing, Property Evaluation, Tenant Services, Maintenance, and Other Services). The report offers market size and forecasts for the United States market in value (USD billion) for all the above segments.
| End User | |
| Commercial | |
| Residential |
| Service | |
| Marketing | |
| Property Evaluation | |
| Tenant Services | |
| Maintenance | |
| Other Services |
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Property Management Market Research FAQs
How big is the US Property Management Market?
The US Property Management Market size is expected to reach USD 81.52 billion in 2024 and grow at a CAGR of 3.94% to reach USD 98.88 billion by 2029.
What is the current US Property Management Market size?
In 2024, the US Property Management Market size is expected to reach USD 81.52 billion.
Who are the key players in US Property Management Market?
GreystarReal Estate Partners, Lincoln Property Company, CBRE, Jones Lang LaSalle Incorporated and BH Management Services LLC are the major companies operating in the US Property Management Market.
What years does this US Property Management Market cover, and what was the market size in 2023?
In 2023, the US Property Management Market size was estimated at USD 78.31 billion. The report covers the US Property Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Property Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the segments covered in the US Property Management Market Report?
The segments covered in the US Property Management Market Report are a) End-User: Commercial and Residential b) Service: Marketing, Property Evaluation, Tenant Services, Maintenance, and Other Services
What are the promising segments within the US Property Management Market?
The promising segments within the US Property Management Market are a) Hotel Property Management b) Commercial Property Management c) Smart Property Management d) Sustainable Property Management
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US Property Management Industry Report
The United States property management market is witnessing significant growth, driven by an increasing demand for both commercial and residential rental properties. This surge is attributed to the availability of accessible, affordable, and high-quality properties in major city locations across the USA. Advanced technologies such as virtual reality, artificial intelligence, the internet of things, and machine learning are being integrated into property management, further boosting the market size. However, the market faces challenges such as increasing security and data breaches, as the software used by the largest property management companies in the US collects crucial and personal information of both clients and owners, making the real estate industry vulnerable to security threats. The market is segmented into software and services, with software dominating due to its ability to manage multiple property operational tasks. In terms of deployment, cloud-based software is leading the segment due to its advanced security and cost-effective solutions. The residential sector holds the largest market share in the property management market in the USA, with property managers being the dominant end-users. This analysis of the US Property Management market, including market share, size, and revenue growth rate, is provided by Mordor Intelligence™ Industry Reports. The analysis includes a market forecast outlook and historical overview. A sample of this industry analysis is available as a free report PDF download.
- US Property Management Market Size
- US Property Management Market Share
- US Property Management Market Trends
- US Property Management Companies
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US Property Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
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