STRATAFOLIO is a commercial property management software that is fully integrated with accounting software (QuickBooks). This integrated solution provides you with the best tool combination you need for commercial real estate property management and automated accounting.. In this article, we cover some of the advantages of using cloud-based property management software built specifically for commercial real estate. Plus, we cover why you should avoid using a property management system that does not communicate with your QuickBooks.
Many commercial real estate owners use QuickBooks to manage overhead expenses, payroll, and loans. Some owners/landlords will seek a solution to solve the property management problem of managing tenants, leases, etc. Often, they will adopt a residential-first software. Most of these do not synchronize with QuickBooks. As a result, you are forced to manually transfer data from the residential-first software into QuickBooks. This is a worst-case scenario for most teams. First, you are paying for a residential-first product that was designed to manage single-family homes or apartments.
Yet, you are using that software to manage your commercial real estate and having to do workarounds to make it function appropriately. Plus, you must manually transfer month-end data because there is no link or connection between the residential-first product and QuickBooks. These types of systems force you to keep using QuickBooks on the side, in addition to multiple spreadsheets to compensate for the complexities of commercial property management.
What are some benefits of using an integrated PM and accounting software?
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Increase Growth and Scalability
No matter the size of your business, you need to be able to adapt to any situation and scale as needed. If you’re in commercial property management, this may mean acquiring a new building and adding more units to your portfolio. Or it may mean growing your team of employees.
Unlike yesteryear’s inflexible business property management software, today’s systems can make your workplace run more efficiently. Integrated management software like STRATAFOLIO and QuickBooks allows you to add more units to your managed properties in just one click or enable access for more employees as your team grows.
Insights into Business Performance
Using separate, disconnected property management tools for your business may not provide you with the full picture of how your business operates. When you have integrated property management and accounting software, you can see your business’s data all in one place. Any data entered in your software will go across all the other platforms without needing to re-enter it. An integrated software system lowers the risk of duplicating information and making mistakes.
Automated property management software will keep your financial accounts up to date as well as tenants, employees, and other data as well. Managing your finances is easier and will ensure you are following local laws and regulations.
Save Money and Time
Automating real estate accounting and tenant management can save you time and decrease the likelihood of making mistakes or creating discrepancies across different software. You can save a significant amount of time using integrated software systems.
You won’t waste time or money by fixing inaccurate documentation or chasing down forgotten payments. Any changes to data or payments in your integrated system will be changed across other systems. Your automated business will make it easier for employees to be productive and not have to worry about tedious tasks.
Increases Communication with Employees/Tenants
Cloud-based property management solutions can help streamline communication for employees and tenants. Tenants will be able to see the current rent payment and put in requests for maintenance more easily. Property managers will have an easier time hiring a repair company to come and look at the problem with a faster communication system. An excellent integrated software system will increase employee communication and collaboration with projects. Employees can access the same data to work on without having to constantly share the new changes.
Choose an Efficient Software
STRATAFOLIO works seamlessly with your existing QuickBooks real estate accounting software. It’s easy to set up and manage your commercial property data and have a QuickBooks property management system. Schedule a 1:1 demo to see how STRATAFOLIO can make commercial property management easier!
