This Portfolio Management Software can Boost Profits & Efficiency
Commercial real estate portfolio management software can be a lifesaver for commercial real estate investors who have more than two properties.
But it’s important to find the most compatible option for a given portfolio. Furthermore, it’s always a good idea to use a single software program versus various property management services and investment management tools.
Managing properties with multiple applications or even the old-fashioned way with phone calls, snail mail, Excel, or paper and pen can be time-consuming, stressful, and make it easy to overlook tenant issues or accounting mishaps. The right software can help manage risk, monitor portfolio performance, handle investment accounting and more—all from a single investor portal!
What is Commercial Real Estate Portfolio Management Software?
Commercial real estate portfolio management software—whether used for individual investors or investment firms—is a digital tool specifically built to assist with real estate investment management, boost efficiency, increase profits and reduce overhead costs. Because there are so many commercial real estate portfolio management software on the market, it’s crucial to make an informed decision when choosing the right one.
Key Commercial Real Estate Management Software Features to Consider
When comparing commercial real estate management software, consider the following features:
- Property Tracking Capabilities: Do the portfolio’s commercial real estate properties need to be tracked based on unit, complex or location?
- Integrated Accounting Solutions: Should the software be fully integrated with general ledger, accounts payable and receivable, expense tracking, income statements, payroll and other financial reports?
- Fixed Asset Management: Will the management platform determine the value of an asset in real-time?
- Budgeting & Forecasting: Should the investment management solution calculate income, expenses and valuations?
- Maintenance Tracking Abilities: Is the ability to track maintenance schedules also a must-have feature?
2 Top Commercial Real Estate Portfolio Management Software Options
Here are two of our favorite commercial real estate portfolio management software options to consider:
Appfolio is one of the most popular end-to-end commercial property management software solutions available. This investor management solution offers:
- Customer communication tools (ex. online portals, texting features, document sharing capabilities)
- Accounting features (ex. schedule rent increases, online rent payments, approvals, loan tracking)
- Maintenance tracking (ex. online maintenance requests and contact center, work orders)
- Staffing and training solutions
- Marketing options (ex. professional websites, campaigns)
- Leasing features (ex. real-time vacancy dashboard, lease activity tracking)
- Growth and management solutions (ex. investor reporting, security)
Re-Leased is a cloud-based commercial property management software that connects several aspects of a business. Re-Leased offers solutions including:
- Account and lease management (ex. transaction and invoice automation, integrated online payment system)
- Inspection and maintenance features (ex. log maintenance issues, track schedules)
- Compliance management (ex. health, safety and security)
- Tenant communication tools
- Document storage and reporting (ex. 60+ reports developed by real-time data)
- Administration features (ex. budgeting, expenses, payments, income)
- Built-in security (ex. data backup and redundancy)
Extensia Financial Provides Loans for Commercial Real Estate
Extensia Financial partners with credit unions and brokers to provide commercial real estate loans for projects of all asset classes, including retail, multi-family housing, office buildings and much more. Our CRE loan products range from $2 to $25 million with terms of five to 10 years and amortization of up to 30 years.