Commercial property management software is a valuable tool for commercial property managers seeking to consolidate all of the personal, financial, and operational data regarding the property or portfolio they are managing. Available for a wide range of property management types, commercial property management software provides the specific features commercial property managers need most.
While there are several commercial property management software programs available, in general, the applications will contain some of all of the following features: accounting functions like tracking rent and late fees, bill pay, and categorizing property account information for taxes and insurance; organizational tools for sorting the personal or historical information of the tenants according to the preferences of the user; tools to file income and expenses by tenant, suite, building or portfolio; tracking systems for work orders and contract histories; form creation templates for rental and lease agreements, notices and letters; and the generation all types of reports like accounting, cash flow, expenses, work orders, leases, vacancies, rent rolls, invoices and financial overviews. Most of these programs also have tracking and reminder systems, sorting options, and myriad ways to group information by the preference of the user. Also, some systems provide the ability to integrate with current accounting systems, and others offer additional features like acquisition, development and disposition tools, or forecasting programs.
Commercial property management software enables managers to gather and organize all of the information pertaining to their properties quickly and efficiently. Thousands of property managers are taking advantage of these streamlined systems both nationally and internationally. Indeed, in an age when every industry is striving keeping pace with technology, property management software is becoming a requirement of successful management practices.