Property owners, regardless of whether they are investing in commercial real estate as well as multifamily rentals or single family houses, must have a consistent and skilled financial management. They also have to be vigilant about the curb appeal in order to ensure the best possible renter experience. Also, they must remain on top of the tax compliance, budgeting and other financial reporting in order to maximize their ROI.
Real estate management is the collection of actions and processes employed to maintain and take care of physical property assets. It’s the work of people who manage those physical assets, too. It’s a complex job that requires a head for numbers and a heart for the tenants who depend on them.
Real estate managers have various duties, including screening tenants, maintaining the property, and the negotiation of lease agreements. All of these tasks are crucial to establishing happy and healthy rental communities that keep renters coming back. They’re also crucial to ensure that property owners can turn their property into a successful investment that will appreciate in value over time.
However, with the rise of digitalization, smart buildings, and occupant demands for quality, there are new challenges that have emerged that are keeping facility managers awake at late at night. These challenges include having full view of their portfolios and project management, as well as streamlined maintenance and operations, and lease accounting. Accruent Lucernex offers real estate management software that can solve these issues, and boost productivity.