What Makes A Good Commercial Property Management?
Commercial property management software (CPM) is essential to any commercial real estate business. It helps you manage properties efficiently by tracking data such as tenants, rents, maintenance, and repairs. CPM also enables you to automate processes so that every tenant receives timely updates regarding services and payments.
Here are some characteristics of a great CPM system.
Flexible reporting: Reporting plays an important role in any business. With a great CPM, you can customize reports to meet your needs. For example, you can create customized reports by tenant, location, or property type.
Integrated CRM: An integrated CRM lets you send out automated messages to tenants to remind them about upcoming inspections or service calls. In addition, having this information stored in the same place gives you a better picture of ongoing issues within your portfolio.
Rent rollups: Rent rollups allow you to view rent amounts across all properties owned by your company, allowing you to identify trends and patterns. These insights enable you to anticipate potential problems before they occur.
Alerts: Alerts notify you whenever there is activity related to a particular property. For instance, if a tenant gets a parking ticket, you can receive an alert letting you know about it.
Property history: Property histories let you track changes made to individual properties over time. This enables you to see exactly what happened at each property, including repair costs, upgrades, additions, and more.
Inventory management: Inventory management tools help you manage inventory levels throughout your portfolio. Using these tools, you can easily assign items to properties and monitor their availability.
Payroll processing: Payroll processing tools enable you to automatically process payroll. With this streamlined process, you don’t have to spend extra hours entering employee information manually.
Automatic lease renewals: Automatic lease renewals keep your tenants happy because you won’t have to chase them down for renewal notices. They’ll get notifications directly through the CPM software, letting them know when their leases expire.
Security: Security cameras, alarms, and other monitoring systems play an important role in protecting your investment. Monitoring systems ensure that everything is running smoothly and that no unauthorized persons enter or exit the building.
What Is Commercial Property Management Software Commercial property management software helps landlords keep properties running smoothly. They include features like tenant relations, accounting, and maintenance tracking.