Property Management – An Industry of Fragmented Technology Solutions

Abstract

Successful property management, which can be done by individual owners or by professional property managers, has numerous interrelated complex business processes: tenant attraction, screening, leasing, tenant move-in, property maintenance, retention/lease renewals, tenant move-out, and reputation management. Property managers must be highly skilled communicators and thoroughly understand the legal implications of housing and contract law in their operating environments. The lack of affordable solutions available to small and mid-sized property managers drives their use of fragmented technology solutions provided by numerous technology vendors that employ redundant data-gathering methods, putting them at a competitive disadvantage. This research paper explores the information systems needs of property managers in contrast to the solutions available to them in the marketplace.