September 03, 2019
Commercial Property Management Software: More Time in Your Day
America’s $6 trillion of commercial property markets shows no sign of slowing down. Vacancy rates are low, and new builds are lagging. Now, more than ever, is the time to rethink your commercial property management practices and drive growth for your business. And, the best way to do that is to get rid of the mundane busy work that consumes time, but adds no value to your business.
Modern Rent Collection
Processing paper checks opens you up a wide variety of risks. Not only will some commercial tenants pay late or have NSF checks, there is the possibility of theft. As well, you waste time running to the bank to make deposits. And, let’s not forget about human error. With commercial property management software, rent can automatically come off a company credit card or your tenants can pay rent online electronically. In either case, you’ve just eliminated hours of “busy work” of chasing and processing paper checks and automated the process. And, your books are automatically updated, increasing in your productivity.
Commercial properties are only as good as their relationship with their tenants. From maintenance requests to solving tenant issues to renewing leases, property managers must be strategic in how they deal with tenants. Being openly available to all tenants is essential to good property management company. While face-to-face communication will always be an part of building strong tenant relationships, much of the everyday back-and-forth between property management firm and tenants can be done through a tenant portal. This ensures there is a digital record of all communications, and makes it easy for tenants to make maintenance requests.
Manage Vendors More Effectively
If not done properly, vendor management can consume both time and money. From HVAC and other typical building maintenance to outdoor lawn care and snow removal, on-site building managers procure and manage a large array of supplier contracts. Commercial property management software can help managers wrangle vendors and save time. How? This type of software gets rid of inefficient paperwork.
By digitalizing and centralizing communication, you’ll eliminate the 20% of lost requests while automatically dispatching work. Commercial property management software makes it easy to automatically generate purchase orders from work orders and then track purchase orders and job progress. The 1-2-3 system linking requests to orders keeps everything accountable, moving, efficient and transparent.
Centralized Information and Reporting
Leases, inspections, maintenance POs, reports – it’s enough paper to fill a warehouse. Even if you try to digitalize on your own, there’s the risk of hackers, corrupted archives and damaged servers. Moving to a cloud-based commercial property management software solution ensures that you have 1.) a centralized repository for all your documentation, 2.) the ability to generate real-time reports and 3.) high security and full compliance.
It also saves huge amounts of time, especially when you can easily put your hands on the information you want, when you want it.
How Property Vista Helps
Retaining tenants in commercial properties makes the location more attractive and the businesses more reputable — keep those tenants happy with efficient maintenance and repairs, reduce delinquencies with online payments and improved vendor relations with better order and invoice organization… all with Property Vista. Property Vista offers a suite of powerful commercial property management tools that reduce vacancies, cut risk and increase cash flow, and give you everything you need to build opportunities and accelerate growth. Check out our pricing and sign up for a demo here.