In parts 1 and 2 of this 4-part series, we discussed ways to help QuickBooks work for you as a commercial real estate owner or manager. However, we also noticed that QuickBooks has some limitations in this area and looked briefly at the benefits of using CRE software alongside it for the best results.
In this article, we’ll dive fully into the topic of commercial real estate software. We’ll discover what it’s used for, why it’s necessary as a QuickBooks user in CRE, and take a look at some of the top programs out there to see which one is best for your needs.
For even more insight on commercial real estate management, QuickBooks, and business growth opportunities, stay tuned for the 4th and final part of this blog series.
What is Commercial Real Estate Software?
Commercial real estate software includes platforms specifically designed to support property management needs for businesses leasing a variety of commercial unit types. While commercial real estate softwares have varying levels of accounting features, they focus on the management processes common in CRE. These processes may include tracking commercial leases, assisting with calculations like common area maintenance (CAM) reconciliation, tenant invoicing, investor and lender communications, and more.
Why Not Just Use One Platform for CRE Management and Accounting?
In the first two articles of this series, we’ve already seen why QuickBooks can’t handle commercial property management alone. It isn’t equipped to handle unique tasks like lease tracking, maintenance requests, or investor reports.
And as mentioned above, CRE software doesn’t always come with accounting features built in. Even the platforms that do are usually more limited than QuickBooks’ full functionality. So, while it may seem like an unnecessary expense or hassle to use two programs, it’s the best way to get all the technical support you need for your business.
The good news is that the best commercial real estate software integrates with QuickBooks, meaning that all data syncs across both programs. Integration effectively layers your property management software on top of QuickBooks, saving you from double data entry and giving you full management and accounting power.
What Features Does a Good Commercial Real Estate Software Include?
Each commercial real estate software offers slightly different features. Depending on the specifics of your business, you may be more interested in some features than others. Overall, however, these are some of the main tools and functions that make a commercial real estate platform worth the investment:
- Complete, two-way integration with QuickBooks
- Lease tracking
- Automated alerts for key dates like lease renewals and rent escalations
- Tenant portal including ACH payments and maintenance request system
- Investor portal
- Customizable reports
- Assisted CAM reconciliation
Examples of CRE Software
Let’s take a quick glance at a few of the most popular CRE software options. Remember to conduct thorough research when considering your choices.
STRATAFOLIO
A leading commercial real estate software, STRATAFOLIO helps commercial real estate owners and managers track assets, finances, operations, and investors from a single platform. Comprehensive tools, a complete QuickBooks integration, and time-saving automations are crucial for commercial real estate owners looking to grow their business.
AppFolio
AppFolio is used for residential-first multifamily, single-family, commercial, affordable, and student housing. It combines accounting and property management into a single program with simple features.
DoorLoop
As a cloud-based property management tool, DoorLoop is designed specifically for small residential businesses and solo property managers.
Buildium
Designed for residential-first property managers and real estate professionals, Buildium streamlines accounting, leasing, maintenance, and communication.
Yardi Breeze
This software solution is primarily designed for residential-first, affordable housing, self-storage, and manufactured housing properties.
What is the Best CRE Software for QuickBooks?
When it comes to using CRE software alongside QuickBooks, STRATAFOLIO is the top choice. It is designed to complement QuickBooks’ strengths and offers a variety of annual plans. This allows you to handle all your property management and accounting needs in a single system. STRATAFOLIO is the only program that offers a complete two-way integration with QuickBooks, automatically syncing data in both directions.
Plus, take advantage of property management tools built with commercial real estate in mind. Easily track details of complex triple-net (NNN) leases and receive reminders for escalations, end dates, and renewals. Use STRATAFOLIO’s 1-click CAM reconciliation button to turn an end-of-year hassle into an efficient, reliable calculation that improves tenant trust and helps you budget for the future.
Additionally, generate customizable financial reports that pull from your QuickBooks data to give you exactly the information you need. Zoom in on a single property or use the portfolio-wide view to spot larger patterns. Unlock deeper insight with all your data right where you need it, and share easily with lenders and investors.
Learn More About STRATAFOLIO’s Commercial Real Estate Solution
This article is just a starting point to figure out what the best CRE software option is for you. If you’re interested to know more about STRATAFOLIO’s benefits for QuickBooks users in the commercial real estate business, you can see how it compares to other property management software options. To find out if STRATAFOLIO is the right fit for you, schedule a free 1:1 demo today.
