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Industry Analysis
There are over eighteen million multi-family properties in America. Only three million of these properties are managed by the top fifty property management companies. Therefore, most of the thirty three thousand property management companies in America are small to medium size. These thirty three thousand companies, who manage almost fifteen million properties, make the market that Gnosio is poised to serve.
More specifically, Gnosio sales efforts have focused on helping property management companies who specialize in managing Homeowner Associations (HOA). Of all the HOAs in America, only 20% are managed by a property management company and the rest are self-managed.
The software that serves the property management industry is highly fragmented. There are over fifty different products, most of them unknown, and there is no single clear leaders or recognizable names within the industry's software providers.
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