Why Haven’t You Added Lease Administration Software to Your Workflow?

 May 16, 2017

By  Guy Gray

It seems as if most of our lives are automated these days.  Coffee makers start brewing at 6:00 am on the dot.  Doors swing open without a touch.  And automated callers can harass you about that 18-hour trip to Jamaica you won when you mistakenly gave out your business card at the last networking event.  Whether simplifying our daily lives or making it easier for telemarketers to spam your cell, automation is the future and it will not wait on you.  When utilized properly, automation saves time, resources and can help you and your business operate more efficiently, freeing up time for growth and development.  So, if this is the case, just why haven’t you automated your CRE portfolio needs by adding lease administration software to your arsenal of property management tools?

Lease Administration Software Costs Too Much

One of the most common reasons we hear from CRE professionals when it comes to why they haven’t integrated a quality lease administration software into their business is cost.  Why buy a custom-tailored software solution, specifically designed for your industry when you can just as easily store the information for free in google docs?

This kind of short-sighted thinking when it comes to expenditures would be counterintuitive in other areas of your CRE portfolio.  Would you hold off on repairing a roof on one of your office spaces because a tarp is inexpensive and does the same job?  The logic is much the same when it comes to managing your infrastructure and administrative needs. Just like that shingle roof, lease administration software is a superior product that returns greater dividends by protecting your investment and freeing up time and resources for years down the road, not just in the short term.

Technology is Just So…Complicated

Another major area of feedback regarding roll out of lease administration solutions is the misconception that CRE property management software will be too complex for users or fears that a new platform won’t integrate well with other existing accounting and tracking programs.  This couldn’t be further from the truth.  Advanced CRE property management platforms, such as the solutions offered by Quarem, are fully compatible with existing software, making integration into your workflow not only possible, but downright easy.

Modern lease administration software has been designed with busy CRE professionals in mind.  All of the modules, whether project management, lease abstracting or automation, have been specifically tailored to the needs of commercial real estate portfolios making for an intuitive user experience.  And while they won’t take a degree in rocket science to learn to use, companies such as Quarem go the extra mile to make sure you’re up and running from day one.  Full service integration and ongoing customer service are only the tip of the iceberg.  For those in need, Quarem also offers fully integrated human support for tasks such as lease abstracting, administration, portfolio analysis and more.

What’s the Big Deal Anyways

So maybe the cost isn’t as high as you expected and the technology won’t be difficult to learn.  You still may be saying to yourself, “so what,” when it comes to making the investment in quality lease administration software.  The benefits to integrating property management solutions into your workflow are numerous.  Software solutions can eliminate duplicate data entry, allowing companies to input information once, improving accuracy of information and greatly reducing the potential for mistakes and lost data.

Looking for that particular lease term?  Need to forward a renewal to an existing tenant?  Or maybe you need to manage expenses and timelines for a new development or improvement project.  Tracking all of these details takes time out of your day that could be spent analyzing your portfolio or researching new markets or properties.  Adding lease administration software automates many of these formulaic processes, improves communication between teams and stores your important data in intuitive and easy -to-use interfaces designed with your business in mind.

So stop adopting the “if it’s not broken don’t fix it” mentality when it comes to investing in growing and managing your CRE portfolio.  Quality lease administration and property management software will return huge cost savings,, can automate a variety of processes and frees up your time to focus on growing your portfolio.  What are you waiting for; contact Quarem today to discuss how the Quarem Vantage, Quarem Access or one of our other custom solutions can make your professional life as automated and as efficient as possible.

You Might Also Like:

A Guide To Lease Negotiations
6 Strategies for Expanding Your Commercial Real Estate Portfolio
The Secret to FASB and ASC 842 Compliance

About the author 

Guy Gray

Guy Gray serves as Chief Operating Officer overseeing our technology and client services teams. He is responsible for guiding Quarem application development, networking and security, as well as new client implementations.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get Started With Quarem

Less headaches. More Control.  A better way to manage your leases.

See Quarem in action.  Get a Demo >