In the age of automation, it should be easier than ever to keep track of your commercial tenants and NNN leases!
However, there are still countless real estate owners and landlords who are struggling to keep up with complex tasks in practice. Doing things the old way isn’t doing you any favors. This is especially true for those who own multiple buildings or multiple real estate companies.
Wondering how to manage NNN lease escalations efficiently? Keep reading! This is Part 3 of our series on NNN Lease Escalations. If you haven’t yet read parts 1 and 2, you can find them here!
What Are NNN Leases and What are Lease Escalations?
4 Reasons Landlords Struggle to Manage Operating Expenses
Without further ado, here’s our tried-and-true solution for managing NNN lease escalations.
1. Learn more about the best-automated analytics for real estate
There was a gap in the market until recently when it came to real estate analytics and automation. But now, there’s an innovative solution! STRATAFOLIO is a data management software that was developed just for commercial real estate owners and landlords. It helps automate complex processes, visualize data, manage investors, achieve better interest rates, manage commercial leases, and more. It integrates right into your existing accounting software and provides various tools that you can’t find anywhere else.
With STRATAFOLIO, you can get peace of mind knowing you’ll be able to accurately estimate NNN expenses and adjust each of your commercial leases accordingly. And the benefits don’t stop there. Learn more about STRATAFOLIO and set up a one-on-one demo today. We’ll show you how it works and help you discover the benefits for your real estate business.
2. Set up a monthly or annual subscription with STRATAFOLIO
If it our solution seems like a good fit for you and your team, the next step is to set up your annual subscription with STRATAFOLIO. We’ve developed a smart, scalable pricing structure that will grow as you grow. Whether you manage fewer than a dozen commercial buildings or more than 100, we have a plan that’s designed to suit your needs.
Choose from monthly or annual subscriptions. Then select the plan that suits your needs: the budget-friendly Essential plan, the feature-packed Professional plan, or the Enterprise plan to give your investors their own login. There is also a one-time onboarding fee to get you set up right from the beginning. We know you are busy, so we are here to help! You can choose the level of onboarding support that aligns with your needs, all the way up to a full white-glove process. Through our review of the leases, we often uncover missed escalations or issues with previous common area maintenance reconciliation resulting in additional future revenue for our company.
3. Add each of your assets and leases in the easy-to-use interface
To get started with your new STRATAFOLIO software, we will assist you with onboarding, and provide additional support you may need as you settle into the program. We will first need to add each of your assets. Whether you own office buildings, retail spaces, mixed-use spaces, multifamily residences, or any other commercial real estate type, you can add each asset and all important information about it. Next, we do the same with each of your leases, ensuring that everything is in order and ready to provide you clear insights. Now, you are one step closer to having automated analytics.
4. Connect your QuickBooks
To keep your data up to date at all times, you simply need to connect your QuickBooks Desktop, QuickBooks Online, or Intuit Enterprise Suite account. Your STRATAFOLIO software has a complete two-way QuickBooks integration, meaning it can access all the data hidden in your QuickBooks and turn it into useful, customized reports. You’ll be ready to manage your commercial real estate business quickly and efficiently with your property management and accounting information connected. And you can do this even when it comes to complex tasks like loan management, NNN lease escalation, and investor management. STRATAFOLIO is designed specifically to accomodate these business needs.
5. Manage your NNN lease escalations with ease
Once you have connected your QuickBooks, you’re ready to manage, track, and get alerts for your NNN lease escalations in one place. No matter how many commercial buildings you own or manage, you can always know when each increase goes into effect. You can easily and accurately adjust each commercial lease based on changes in the operating expenses, property taxes, insurance premiums, and more. When the time comes for reconciliation, it will be a breeze with our 1-click common area maintenance (CAM) reconciliation process!
For further information about how STRATAFOLIO can help you with your commercial leases, tracking of all your critical dates, and much more, schedule time for a free consultation and demo!
