For many businesses and individuals involved in the property sector, ensuring everyday operations go smoothly can be a lot like fighting a fire. Once you’ve cooled down one hot spot, or problem, another is ready to flare up.
This is because when it comes to lease contract management, there’s a lot to take care of. It doesn’t matter whether you’re responsible for one property, or 1,000 properties, the task is complex. You have to take care of lease renewal options, accounting and processing, audits, common area maintenance charges, repairs, ongoing maintenance, analysis of occupancy costs, reporting, information management, expense reviews, and so much more…
In fact, that doesn’t even begin to cover the full list of daily tasks. You still have to make sure each and every tenant – be it business or personal – are paying on time. Essentially, poor lease contract management can result in thousands of dollars either being lost, or unaccounted for.
The stress can be overwhelming for any staff member, which is probably why 36.1 percent of all property management staff, interviewed in a 2008 National Multi-Housing Council survey, leave their job every year.
In order to make it work, the average facility manager, real estate accountant, construction manager or property manager needs the right software, and the right tools to do the job effectively, and that is where multi-functional real estate portfolio tools become invaluable.
In the form of IWMS & CAFM software, such a system can turn a stressed and frazzled property manager into an organized and “on the ball” member of staff who has their finger on the pulse.
So, how does lease contract management software work?
ViewLease is a good example of an effective lease contract management software aiming to take the labor out of a complex line of work. Combining the logic of real estate data management with pending real estate deadline information, it produces intelligent portfolio decisions.
It caters to all asset managers, property managers and tenant lease administrators. In effect, it’s a life ring, providing solutions for execution of leases, rent step-ups, notification dates, clauses for expenses and expiration of options.
The most important aspect of a property manager’s job, is ensuring they are aware of all the happenings of any particular lease contract. Because there can often be several hundred of them, this can seem like an impossible task. Of course, it’s impossible when you rely on sticky notes and scribbled words on a calendar, but it’s not with lease contract management software.
It can help you manage those sometimes-overwhelming notification dates and schedules, as well allowing you to view the legal descriptions of any property, the addresses, the types and the property’s status. It can even enable you to import lease data and spreadsheets with ease, as well as attach original documents for cross-reference and safe-keeping.
When the time comes to provide your employer with custom reports, charts and graphs, it can complete it for you. The ability to save hundreds of hours of hard work and labor can all be found within lease contract management software.
Who provides lease contract management software?
There are many different suppliers of lease contract management software, with CollectiveView being one that’s highly regarded by many businesses.
Along with many other IWMS and CAFM software types, we provide a seamless service from installation all the way through to staff training. We have implemented and administered workplace management systems in over 25 million square feet of corporate commercial and industrial space. Our team are undeniably the best at what they do, and we look forward to providing you with a free demonstration.