One search for “commercial real estate portfolio manager” will tell you all you need to know about how hands-on and time-consuming managing a CRE portfolio can be. There are dozens of listings from a variety of companies (both large and small) in a multitude of industries.
If something like commercial real estate portfolio management requires a full-time position for someone to do it successfully, why would you try to do it yourself as an investor? What if there was an alternative to hiring or DIY? Commercial real estate portfolio management software is a fantastic alternative to both of these options. Let’s take a look at this solution from an investor’s perspective.
CRE Portfolio Management Tasks That Take Time
First, a look at CRE portfolio management tasks. As mentioned above, CRE portfolio management is a full-time job in itself. Commercial real estate investing comes with a variety of duties and responsibilities, which include (but are not limited to) the following:
- Strategically planning for the future of your portfolio based on reflection and market trends
- Researching and setting fair market values based on similar properties and target areas
- Managing your income/expense schedules
- Organizing and storing all documents related to your CRE portfolio
- Communicating with others associated with your portfolio, such as brokers and attorneys
- Managing all FF&E assets associated with your CRE portfolio
- Providing regular financial reports and forecasts
How CRE Portfolio Management Software Helps
So, how can CRE software help? Using commercial real estate portfolio management software like Quarem is basically like hiring someone to do the above tasks — but at a fraction of the price. Quarem lets you manage and automate your portfolio the way you want to as an investor. Here are some of the ways Quarem helps with commercial real estate portfolio management:
- It helps you organize all of your documents by lease, project, property or asset on a cloud-based system that can be accessed from all your devices.
- It allows you to create notification reminders for projects like deal negotiations or meetings, as well as lets you seamlessly take notes or share information with other CRE professionals.
- It automates the reporting process and lets you customize dashboards and reports to meet your needs, from historical analysis to forecasting.
- It gives you access to a team of CRE experts who can help you manage the tool better as a commercial real estate investor.
If you’re interested in a way to free up your time when it comes to managing your commercial real estate portfolio, consider requesting a demo of Quarem today.