Whether they’re investing in commercial real estate, multifamily rentals, or single-family homes, property owners require skilled and consistent financial management. They should also be vigilant about their property’s appearance and curb appeal in order to ensure the best possible renter experience. They also need to stay on top of the tax compliance, budgeting and other financial reporting in order to maximize their return on investment.
Real estate management is the process of coordinating actions and processes that are employed to take care of physical property assets. It’s also the responsibility of the people who manage these physical assets. It’s a complicated job that requires both an eye for numbers as well as an understanding of the tenants.
Real estate managers are responsible for a variety of tasks including screening potential tenants, maintaining the property, and even making lease agreements. These tasks are essential to creating healthy and happy rental communities that keep tenants returning. They’re also essential in ensuring that this content 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 facilities managers awake all late at night. These issues include full transparency into their portfolio as well as streamlined maintenance operations, leasing accounting. Accruent Lucernex provides real estate management software that addresses these issues, and boost productivity.