Handling all aspects of property management for commercial real estate properties can be an enormous task, from lease negotiations and finances to operations and client service. Luckily, property management software exists that can streamline workflows and enhance client services – whether managing office buildings, retail spaces or industrial structures these systems provide essential tools and insights needed for optimal performance.
Commercial real estate software can help improve communication with tenants, increase productivity and make more effective decisions. When selecting the ideal solution, take into consideration what features and functionality are most important to you, your spending limit, number of properties you are managing as well as any unique requirements or special requests from owners/tenants/occupants etc. Below is a selection of top options suited to different requirements – each has different strengths that make them suitable.
Appfolio provides an all-in-one commercial real estate property management system, offering cloud tools suitable for apartments, residential, home, student housing and affordable council properties. It supports online application processing and tenant screening allowing potential renters to submit applications before drawing up contracts; in addition, residents have a resident portal where maintenance requests and rent payments can be submitted as well as accounting modules that support online payments, invoice management, debt collection etc. In addition to all this functionality there’s also a mobile app allowing access anytime anywhere on any device; all this all makes Appfolio an indispensable asset!
Fyxt’s solution designed specifically for commercial real estate offers an exhaustive set of tools and analytics to manage and expand your portfolio, with an intuitive user-friendly interface enabling custom workflow design for both large and small portfolios. Furthermore, Fyxt provides dedicated customer success manager as well as free onboarding/data migration services – ideal for managing commercial real estate investments successfully.
Building Engines is another solution tailored to commercial real estate specifically, designed with core metrics in mind to easily track and report performance across your entire business. This includes tracking occupancy levels, measuring service delivery performance, client satisfaction management and revenue generation which help drive revenue and enhance business performance. Furthermore, Building Engines features integrated business intelligence as well as predictive analytics which identify areas for expansion – this system is used by some of North America’s largest private management firms and public REITs alike.
As part of your evaluation for commercial real estate software, consider what transactions and their complexity you will be managing. Some solutions are tailored specifically to accommodate more complicated lease structures like triple net and modified gross while others cater more towards asset types like retail centers or office buildings. Furthermore, accounting systems should integrate well and handle investment dashboards effectively for maximum performance.
MRI and Yardi are industry leaders that provide all the functionality you need for a business to run smoothly. Their strength lies in flexibility; while Yardi is best suited for large operations that need closer visibility into their assets. Both solutions are fully scalable with modules dedicated to leasing or construction activities.