From collecting rent and taxes to paying insurance premiums and payroll, property managers oversee the performance of income-producing commercial properties and ensure that real estate investments achieve their expected revenues. In addition, some property managers supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, expiration dates of leases, and other matters.
Challenges:
With so much responsibility, it’s no wonder that property managers face many challenges. Some of the challenges they are faced with are:
- The disconnect between their management systems and general ledger accounting programs
- The ability to manage complex leases in disconnected environments
- The difficulty of creating understandable reports from multiple, disparate sources of data
- Lack of an easily and centrally accessible repository for perspective tenant information
- Maintaining security and SOX compliance
Solutions:
At ARGUS Software™ we have solutions to help property managers run their business more effectively and efficiently, which in turn helps them meet and exceed their revenue targets.
The complexities and headaches associated with renting space are now alleviated with ARGUS Lease CRM™ which provides onsite leasing agents with the ability to easily manage the leasing process, space management and related workflows including specialty leases. ARGUS Lease CRM™ also allows third-party consultants to have access to the system used by the property manager which promotes a consistent and clear line of communication.
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