Real-estate business in the UAE, and how to harness lease-management complacencies?
Lease management systems and their advantages aren’t familiar to everyone. There exist several property management software for landlords that do not serve the purpose. Real-estate is a fast-growing business, and it belongs to an industry of its own. It is in strict adherence with the economic traits that a real-estate business grows and diminishes. Many a business falls during the transition and faces closures. Therefore it is highly recommended to use any of the proven software systems such as an ERP to manage the real-estate business and save yourself and your organization from the chaotic processes, legalities, and other headaches.
Real-estate business is highly competitive; therefore, gaining and retaining customers is a complex process. Customers are looking forward to tempting services, best-in-class facilities, premium feel, attractive maintenance offers, instant support, and a less tiresome process.
What is a commercial property management software, and what does it do?
A commercial property management software is the same software solution that is customized to manage properties of different kinds. It can effectively manage leasing of flats, hotels, rental businesses, tenants, apartments, property, and other assets for lease, rental, and sale as part of the real-estate.
Such property management solutions take care of the operational aspects of the business like accounts, finance, cash, rental, buying and selling, leasing, legal documentation reminders, payments, receivables, property details, and much more information on the properties of the business.
ERP is a comprehensive resource planning software for the real-estate business. It is a full-fledged package that includes all phases of real estate and properties. It can be individually tailor-made into a solution for tenant management system or hotel property management software or apartment management software or landlord software or rental property management software or flat management software or property management solutions or to any unique type of leasing business like your business.
ERP is the best choice for landlords to use as a tenant management software or a rental property management software. As cloud, web, and mobile application access are the dominant features of the ERP today, landlords would find it easier to administer and operate the lease and rental management business.
A modern ERP like allows the landlords to make an instant decision based on the real-time analytical data provided by the software. They do not need to manually work on any excel files or calculators to evaluate the trend, trait, and cash-flow. It helps in maximizing the efficiency of the operation to gain most out of rentals and profits.
An ERP will allow the people in the organization to access the software from anywhere and utilize it to make business happen. It enables teamwork and faster decision making, therefore, simplifies the closure of the sale.
Tracking maintenance issues, property requirements, rental collection, lease issuing, document renewals, history of tenants, and every related information regarding leasing, rental, tenants, and its legalities become friendly with an ERP.
A property management software for landlords can allow the users to manage the leasing of lands, warehouses, shops, flats, villas, 2bhk apartments, or 3bhk apartments easier. Online payment systems, maintenance allocation systems, and document handling systems will make it quite handy and useful.
The landlords or businesses can set their data flow to manage the business effectively while using intelligent ERP software like .
Handling accounting and relative data in commercial property management software
Commercial properties, when managed without care, would become a bleeding point of the business. Timely repairs, cleaning, servicing, and planning each property would boost the cash flow in real-estate. An ERP would facilitate the easier handling of income, expense, cash flow, payments, PDCs, accounting, budgeting, and auditing.
Timely update of the maintenance, rental collection, service & repairs, costs incurred, and other details in the ERP would deliver statistical business insights to grow your business according to the trends. Commercial property management software is secure and fast. Therefore, respective people can access the solution from anywhere that results in a persistent and continuous process.
Hotel property management software and its key elements
Managing a hotel or a group of hotels across countries would be very much intriguing if the management is keen to use smart ERP software like . ERP acts as a platform for the management of the hotel business to analyze the operating and business aspects of the hotel chain.
The software would allow the managers to manage their entire business operations that include front-office, booking and reservations, guests, room check-in and check-outs, cleaning, maintenance, billing, accounting, service, history, and inventories effectively.
Proper hotel management software would also ensure a smooth and seamless experience for guests and customers. It plays a crucial role in managing the business efficiently and transitioning into a profitable business.
Similarly, businesses can use ERP as flat management software or apartment management software. is flexible and tailor-made to ease the operational complications of various real-estate projects.
Some of the most useful features of ERP are;
- Managing rentals
- Managing Tenancy
- Managing Service and Maintaining History
- Managing Properties
- Managing Contracts
- Managing Payments (Cash, PDC, Payables, Receivables…)
- Managing Budgets, Auditing, Finance, and Cash-Flow
- Manage Sales & Marketing of the property
Equipped with highly intelligent business API’s and software architectures to deliver a competitive and smart ERP product experience to its customers. Some of the core functionalities include;
- Dedicated CRM
- Property Management Tools
- Facilities Management Tools
- Inventory Management Tools
- Lease Management Tools
- Document Management Tools
- Procurement Management Tools
- Fixed Asset Management Tools
A proper ERP should be able to produce instantaneous reports on the risks, economic traits, and industry trends. The solution you chose must be able to point out from its business insights about the risks involved in making business with particular vendors, customers, affiliates, stakeholders, and partners.
Commercial property management software must rich with technological innovations and support multiple platforms. It should be multi-language supported and in compliance with the local governmental rules and building regulations. Cloud and mobile access are the basic features of an ERP in 2020, and it must be present in the ERP you chose. If you wish to know more about an ERP that handles all your commercial properties and rentals