How Does Lease Administration Cut Costs?

 June 28, 2017

By  Guy Gray

It may be the most overused saying in, well, just about anything, but when it comes to the world of Commercial Real Estate and Lease Administration Software, the whole you need to “spend money to make money” couldn’t be more accurate. We’ll admit that the concept seems counterintuitive to CRE professionals looking to cut costs. Quality software solutions, such as those offered by Quarem, not only create savings in time and efficiency, they also directly impact your bottom line. Still skeptical? Then read on…

Time Equals Money

While it may be another eyeroll inducing maxim, the truth is that wasted time has a direct and immediate correlation on your business, administrative and other overhead costs. It’s easy to make the argument that your time is better spent working on portfolio growth and opportunistic transactions, but CRE professionals also have to take note of their employee costs. Each time your assistant, account administrator, accountant or other in-house professional needs to sift through papers in order to find vital lease facts or figures your hourly wage costs are racking up. With Quarem Access and Quarem Vantage software solutions, key facts are available at the touch of a button, eliminating unnecessary hurdles and time waste.

Opportunity Cost or Opportunity Lost

In addition to salaries, cost savings also occur in the ability to respond quickly to tenants, agents or other individuals in the CRE world. Prospective clients will often be reviewing a number of individual properties. The tipping point for any good location scout will often be timeliness and the professionalism of their landlord or property manager.

Businesses from ma-and-pa shops to large corporate clients understand that an organized CRE professional with modern capabilities will return dividends when it comes to their ability to make money in their physical location. Lease renewals are also vital aspects of the CRE field. With Quarem, never miss an opportunity to interact with clients with automated correspondence and reminders of important contract dates.

Real-life asset tracking also means that your physical property won’t leave the premises of your real property. Quarem’s asset tracking module allows CRE professionals to quickly log, identify and then confirm whether premises are leased furnished and which individual pieces of property should be left behind after a tenant leaves. Quarem’s real-world solutions equal real-life savings.

See Real-Time Trends and Be Positioned to Act

Have you ever reviewed months’ worth of data only to see a trend in an individual tenant or property occupancy rate that you wish you would have caught earlier? Perhaps it was a missed payment, or a quickly escalating curb in time between showing and lease signing. Both scenarios, and many more, equal real-life opportunities to stem a loss or capitalize on a trending change. With Quarem’s property management tools, customizable reports offer the ability to get a bird’s eye view of individual leases and entire CRE portfolios. Not only can you stave off issues such as problem clients, but you will also have expert insight on whether a rent raise is due or overdue.

Whether through reduced overhead in wage costs or avoiding losses, Quarem has a software solution to help busy CRE professionals keep and build the funds in their bank account. For a customized analysis, contact Quarem today and find out how an investment in one of Quarem’s premiere software platforms can equal big returns for your CRE portfolio.

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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.

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