An efficient commercial real estate management software can streamline processes and increase team productivity. When selecting software for your real estate business, ensure it fits its specific needs such as tenant/lease management, rent collection and maintenance tracking; tenant portal access for rent payment/maintenance requests/lease documents etc; as well as robust financial reporting module for occupancy rate calculations, expense recovery analysis and profitability measurements.
Before selecting your solution, it’s crucial to identify your features of interest and shortlist a few top contenders based on these specifications. Doing this can save both time and money from selecting something which doesn’t meet your requirements.
Property management solutions that cater to your industry and portfolio should be non-negotiable. This can include features like lease abstraction tools for managing long commercial leases, percentage-based rent calculations, renewal clause tracking, tenant portals that reduce communication barriers and frustration, among other essential options.
Facilio is an all-in-one commercial property management software platform designed to support operations, sustainability, communications and risk management at large-scale commercial properties. Available on cloud technology with a user-friendly interface and real-time data and insights that help optimize commercial real estate portfolios – it offers affordable options for larger property portfolios from office spaces to industrial warehouses.
MRI Software is another industry leader, providing an all-in-one platform that enables informed decisions for your commercial property portfolio. Their solution features customizable dashboards and real-time reports to analyze your assets’ data across your assets. MRI is widely known for their automation and workflow capabilities; their accounting engine automates tasks to reduce manual input while simplify recurring activities; they offer various application packages as well as custom integration.
Rentec Direct is a top choice in commercial real estate software solutions, handling ledgers and financial reports with ease while helping manage common area maintenance costs through CAM tracking. Rentec Direct’s user-friendly interface and friendly customer support makes the software both cost-effective and easily navigable; pricing models are competitive with plenty of free training offered to get users up and running quickly.
Re-Leased is an intuitive commercial property management software that makes budgeting and accounting simple, automatically passing expenses on to tenants while offering clear reports with valuable insights. Pricing plans can be adjusted based on your portfolio size; two starter plans and an Enterprise plan are offered.