As the commercial real estate industry expands quickly, property managers will find managing offices, retail spaces or an assortment of properties more and more challenging. Balancing finances, maintenance requests and operations manually is no way to run an efficient operation; software offers solutions that help streamline operations while improving tenant relations while gaining valuable insights into portfolio performance.
Selecting a property management software solution that suits your business’s needs can be an essential decision, and can have a dramatic effect on how efficiently and profitably your properties are run. To make sure you select an ideal tool, take into account these key points when selecting one for commercial property management needs:
Financial reporting and accounting solutions that offer powerful reports easily broken down by tenant, property or lease provide greater financial clarity at a glance, helping you identify trends or opportunities that could be hindering growth. The top-rated solutions also feature robust property management software features to facilitate asset management tasks more efficiently.
Make sure that the property management software offers features designed to assist with leasing and marketing activities, such as tenant portals where tenants can pay rent online, submit maintenance requests and view lease documents. This makes communication with tenants simpler while opening lines of communication to avoid any misunderstandings over payments or lease terms.
An integral factor is whether or not your property management software offers integrations with the other tools you rely on, like word processing, spreadsheet, and email systems. Choose a platform that integrates well with these applications so you don’t have to switch between applications when working on projects.
Property management software solutions from top providers also come with features designed to support day-to-day operations for various real estate types, including office buildings, apartment complexes and industrial facilities. These features may include automation in various aspects of daily operations; communications and document management; marketing/leasing management as well as analytics capabilities.
To narrow your selection, start by identifying which properties and businesses you own and operate, then evaluate each tool’s features against your requirements and budget constraints. Finally, compare prices so as to ensure that the tool fits.
SimplifyEm is an efficient solution for independent landlords to efficiently manage their rental properties. Their cost-effective cloud platform enables users to track income and expenses, manage tenants and maintenance requests, create lease agreements quickly and more – all while being easy-to-use and offering email and phone support!
MRI software offers commercial property managers the tools they need to efficiently manage the complexity of their properties with features like investment management, strategic planning and analysis, lease abstraction and space management. Furthermore, its visual display capabilities help provide more accurate reports and faster business insights.
AppFolio Property Manager is an enterprise-level solution that can handle various forms of real estate management – single family, multifamily and student housing properties alike. It provides tools that automate and streamline real estate administration for large and small enterprises alike; accounting, maintenance work orders, communications/document management/marketing and leasing are just a few examples.