Date management is all about organizing and remembering important meetings, deadlines and holidays on both your personal and professional calendars. When it comes to commercial real estate, date management is one of the most critical aspects of the job.
In fact, missing any timelines or critical dates can be unforgiving for a CRE professional. Fortunately, Quarem’s CRE software presents robust solutions for critical date management. Let’s explore some of the most common types of dates CRE pros track and how Quarem can help.
Types of Dates CRE Professional Need to Manage
While the outside world may think commercial real estate professionals only need to worry about when a lease starts and ends, the reality is that there are several different types of critical dates CRE professionals need to track. Here are some of them:
- Rent dates: From annual increases or changes in rent to audit windows and default time periods for rental payments, there are several dates associated with tenant rent that you have to handle.
- Lease commencements/terminations: Your portfolio is full of different leases with different terms and different dates for commencement and termination. Keeping track of all of them is crucial for portfolio organization and managing negotiation opportunities.
- Option/right dates: When are your tenants allowed to negotiate a renewal? When do they have to notify you about vacating? Can they buy out of the remainder of a lease by a certain dates? By knowing all of these dates, you’ll have the upper hand.
- Other dates: Finally there are less-common dates, such as security deposit refund dates, relocation date restrictions, days of parking availability and more. And did we mention special dates for things like the new FASB leasing standards?
Fortunately, the right CRE software can help you manage all of these dates and more.
How CRE Software Helps with Date Management
According to Propmodo, “CRE needs to tackle top-notch UI, compatibility across multiple devices and access to up-to-date data.” Quarem fits the bill by providing a cloud-based system where you can manage all of your leases, properties and assets via a computer, smartphone or tablet. You can also have peace of mind about all of your data — including those related to critical dates — being up-to-date and correct. As it pertains to date management, here are some ways Quarem can help:
- Tracking both the key dates and milestones related to the lifecycle of your projects.
- Comparing time actuals versus targeted projections.
- Sending you notifications ahead of time for your critical dates.
- Cataloguing and organizing your dates and tasks based on priority level.
- Pinpointing dates for projects based on metrics like location or client.
- Allowing you to easily collaborate with team members and remotely monitor progress.
If you’d like to learn more about how Quarem can help you manage your important dates better, request a demo of the software today.