Managing commercial properties can be a challenge, especially when handling multiple properties. No matter how many properties you manage, investing in property management software can make your job much easier. However, if you don’t have the right tools, the day-to-day tasks of property management can be overwhelming and daunting.
There is a lot of software available in the property management sector. However, not every software is made for commercial real estate. Discover the best property management software for your specific needs, where we provide some needs analysis. Many products on the market focus on residential real estate. Selecting and utilizing the right commercial real estate (CRE) tools can simplify complex tasks and provide investors and landlords a competitive edge in the market. For many owners, the first question to ask is what property management products integrate with QuickBooks. As the primary accounting system used by over 85% of small businesses, this is a crucial question.
CRE asset management software is crucial for the success of your portfolio because it centralizes data, facilitates collaboration among team members, and enables informed decision-making. This guide will teach you how CRE asset management software helps owners increase their profits by facilitating easier data analysis, reporting, and communication.
What is Commercial Real Estate Asset Management Software
CRE asset management software provides you with tools to make managing commercial real estate assets easier and more effective. These apps and software make it easier to manage leases, create budgets, make predictions, and analyze finances. The software enables property managers and owners to monitor multiple properties by consolidating key data on a single platform.
CRE software ensures that all important information is easily accessible, well-organized, and usable for individuals with extensive portfolios. This centralized method reduces the likelihood of property management mistakes and missed opportunities. In the end, CRE asset management software makes things run more smoothly and helps people make better strategy decisions.
Benefits of Using Commercial Real Estate Software
CRE software offers numerous benefits, particularly in managing multiple properties and handling large amounts of data. Better data analysis turns numbers into insights that help you make informed choices, enabling you to improve performance and make the right adjustments to your strategies. You can also predict market trends and make changes to your commercial real estate plan based on real-time data.
CRE software enables seamless collaboration by allowing all team members to view and update data simultaneously. This real-time communication cuts down on mistakes and ensures that everyone is on the same page regarding the project goals. Due to these benefits, CRE software enables you to save money, work more efficiently, and safeguard your investments.
Go Paperless
While it can be helpful to keep some paper copies of important documents, managing your properties can be easier when you go digital. It’s easier to make mistakes when you use paper filing for everything in your business. Rent could be late several times without anyone noticing a pattern, you could miss lease escalations, or you could forget that a lease renewal is coming up.
When you invest in quality property management software, you’ll be able to automate many tasks so you can work more efficiently. You won’t have to dig through a stack of papers to find the information you are looking for. Property management software can help you stay on top of ingoing and outgoing payments, lease escalations, renewal dates, CAM reconciliation, and much more.
Enhance Communication with Employees, Tenants, Vendors, Lenders, and More
With all your information stored in the cloud, property management software makes it far easier to find the documents you need when you need them. This is particularly helpful when working with tenants, contractors, lenders, investors, and even internal team members. For example, you can share financial documents with a lender or share lease documents with a tenant. You can quickly search and determine when a specific repair or maintenance task was last completed. And, you can do this from anywhere, whether you’re at the office or not.
Grow Your Business
Property management software can help you remember important events, keep track of your tenants’ information, keep an eye on each property’s income and expenses, and keep all of your paperwork in order. You’ll save time and be less likely to make mistakes with automated prompts and reports that are easy to make. You won’t have to repeat the same tasks over and over again, allowing you to focus on ways to improve and grow your sites.
A good property management software will be able to grow along with your business. With a cloud-based model, it’s easy to expand over time as your business grows, regardless of the number of properties you own or manage.
Do all this and more with STRATAFOLIO
If you’re looking for property management software that integrates with QuickBooks, can help you go paperless, communicate with stakeholders, and grow your business, STRATAFOLIO can help you! Our software integrates seamlessly with QuickBooks, providing you with the tools you need to efficiently and effectively manage your commercial properties.
Our tool combines commercial property management, portfolio analysis, and performance reporting in one place, enabling users to maximize returns across various asset types. STRATAFOLIO helps real estate portfolio managers make informed decisions and grow strategically by providing them with powerful analytics and real-time information.
Schedule a 1:1 demo to see how STRATAFOLIO can make managing your properties easier than ever before.
