Managed commercial real estate portfolios is no easy feat. Between applications, spreadsheets and documents it can be easy to overlook tenant issues or accounting mishaps, but by centralizing investment data and automating workflows can improve decision making and increase operational efficiency. As a result, many investors and owners opt for comprehensive portfolio management software solutions capable of handling risk management, monitoring investment performance reports and handling accounting functions all in one comprehensive solution.
An effective commercial real estate portfolio management system can improve communication and collaboration among stakeholders, standardize property operations, provide clear investment data reports and address business needs more easily than before. They also allow flexibility for adapting to changing workplace trends and business requirements more readily; but choosing a suitable program from among many available on the market can be dauntingly complex – with numerous programs each boasting distinct features and prices.
Commercial real estate portfolio management software programs must ensure effective communication among stakeholders and streamline processes, with users having access to a centralized platform with real-time, personalized dashboards that enhance decision-making and speed timelines. They should also feature advanced functionality like automation systems, work order tracking and an easy user-friendly interface.
Utilizing this type of technology can reduce expenses by cutting travel and overhead costs and eliminating manual processes. Furthermore, this type of tech enables users to monitor progress toward goals while simultaneously identifying any potential problems or making adjustments as needed.
As part of its offerings, commercial real estate portfolio management software should provide virtual tours of properties to provide tenants, buyers and investors the chance to experience them as though they were there in person – helping speed up decision making processes while drawing in more potential tenants or buyers.
Buildium is an extremely popular commercial real estate portfolio management software application. This app helps with automating asset maintenance activities, taking over accounting duties and producing financial reports when required. Furthermore, this software is easily accessible on smartphones and tablets for users to access their dashboards from anywhere – plus there’s a limited-time demo version at no cost available as well.
CRESSblue provides property management software tailored specifically for net lease properties like retail shopping centers. Its pricing model depends on factors like office count and leases managed.
SKYLINE provides a powerful property management accounting platform designed for mid-sized and larger commercial property portfolios, offering automated leasing calculations and scheduling, plus various property types with user-friendly interface that requires minimal technical knowledge for use. Though its price point may be more costly than some competitors, its value remains excellent.