Property owners, regardless of whether they are investing in commercial realty or multifamily rentals, or single-family homes, need to have an ongoing and proficient financial management. They also have to be vigilant about their property’s image and curb appeal to ensure the best renter experience. And they have to keep up-to-date with budgeting, tax compliance and other financial reporting to maximize their ROI.
Real estate management is the collection of actions and processes that are employed to care for physical property assets. It’s the job of the individuals who manage those physical assets, too. It’s a complicated job that requires both the ability to think in numbers and a heart for the tenants.
Real estate managers are responsible for a range of duties including screening prospective tenants as well as maintaining the property and even negotiating lease agreements. All of these tasks play an essential role in creating a happy and healthy rental community that keeps tenants returning. They’re also essential for ensuring that owners can turn their property into an effective investment that will appreciate in value over time.
But with the increase of digitalization, smart buildings, and the expectations of occupants for quality There are new challenges that have emerged that keep facilities managers awake all late at night. These challenges include complete transparency into their portfolio and streamlined maintenance, operations, and leasing accounting. Fortunately, Accruent Lucernex provides real estate management solutions that help to address these issues and improve productivity.