Experienced CRE professionals know that the work doesn’t stop once you’ve acquired your portfolio properties and leased them out to quality tenants. Keeping your properties in tip-top shape is key to both protecting your assets and ensuring client satisfaction. With a CRE owner’s busy schedule, however, spending time on these daily tasks can often be a time sink that prevents you from focusing on substantive growth, research and analytics necessary to building your CRE empire.
Enter another useful feature of property management software solutions. With the right partner in your technology game, daily, regular and major building maintenance and upkeep can be made more efficient and easier to manage, saving you time, energy and money.
Tracking Regular Maintenance and Vendors
Each of your individual portfolio properties has unique needs when it comes to maintaining both aesthetics and functionality. There’s the office park with a host of lawns, trees and common areas, all of which need gardening and cleaning to keep from becoming overgrown, post-apocalyptic wastelands. Perhaps there’s another charming property that boasts a wooden façade, fitting in perfectly with the surrounding town. A lovely design detail that requires yearly paint and refinishing to continue looking quaint, rather than run down.
Property management software solutions can track the individual characteristics of each property and allows CRE managers to create unique schedules for everything from gardening to facility maintenance and beyond. Regular yearly checks of major electrical, plumbing or other generic systems are also easy to implement across the board. Once a vendor performs the tasks, simply log the maintenance date and have the information ready at a glance the next time you need to know when the last service call occurred.
Individual office fixtures each have their own maintenance schedules, as well. In addition, warranties, and mandatory maintenance to honor the terms of any warranty, also need to be tracked in order to protect the investment. Property management software can document, track and alert office managers, CRE owners and other support staff to these critical dates, ensuring you’ll never miss another important deadline.
Identifying the Need for Major Upgrades
Tracking maintenance dates with property management and lease administration software solutions also helps CRE professionals identify the need for major upgrades to properties. Upload pictures of individual storefronts and interiors right into the individual property profiles. Use these eyes-on aids, in addition to calendars documenting the date of previous major upgrades, to determine which property is in need of a full gut, renovation or redesign in between tenants. A handy feature for CRE pros looking to stay on top of modern trends in office space utilization and design in order to attract the savviest tenants.
Coordinating Project Management
Tracking maintenance needs is only one part of the CRE property maintenance equation. With sophisticated property management solutions, CRE managers and owners can also keep on top of major building projects, once initiated. Property management software, such as that offered by Quarem, allows streamlined and centralized communication between vendors, contractors, project managers and more, ensuring smooth monitoring and flawless execution of your upgrade or project.
If you’d like to hear more about all the benefits of a sophisticated property management software solution, contact Quarem today for an initial consultation at no cost to your business. Quarem’s Access and Vantage platforms can help with your CRE portfolio’s business, maintenance, lease administration needs and more. Call Quarem and find out the difference having a dedicated solutions partner can make in your portfolio’s health and growth.