Is the Perfect Commercial Tenant a Unicorn
Jul 18

Is the Perfect Commercial Tenant a Unicorn?

By Guy Gray | CRE Tenant

There’s a mythical beast in the commercial real estate world. Its beauty is unmatched. Its value is beyond words. Some say it may not even exist. Every CRE professional wants one. We’re talking about the perfect commercial tenant.

The only problem? This type of tenant is beyond elusive.

We’ve covered five problem tenants CRE pros hate, but is there a commercial tenant out there that lives on the other end of the spectrum? Or is the perfect tenant a unicorn? Read on to find out.

What Does the Perfect Commercial Tenant Look Like?

Let’s assume for a moment that the perfect commercial tenant exists. What are some of their characteristics? As a CRE professional, what should you look for in a potential tenant? Here are some of the boxes a perfect tenant should check:

  • Their finances are in order: a stellar credit history and solid financial foundation are of extreme importance. You don’t want to deal with the common problem of tenants failing to pay their rent on time — it’s a financial burden and waste of time having to track those checks down.
  • They are cooperative and communicative: you want to be able to get in touch with your tenants easily, whether it’s for a missed payment or missing document.
  • They have a proper plan in place: your tenants should have a business plan that doesn’t set them up for failure. (If you’re in South Florida, for example, a local hot soup company might not be your best bet.)
  • They’re compatible with other tenants: how well your tenant gets along with the other tenants in your space is another factor you should consider. You don’t want to drive out your other good tenants because of one unruly or distracting tenant.
  • They’re honest: a tenant who plays by the rules is ideal as well. That means operating everything on the table and being honest about even minor things like office furniture, fixtures and peripherals.
  • They’re not… weird: you don’t want a business that has a side gig of a chicken farm on your commercial property. The tenant’s business model should be as, well, normal as possible.

Fortunately, even if a tenant doesn’t fit all (or any) of the above criteria, the right commercial real estate software can help landlords better manage them.

How CRE Software Helps with Any Tenant

Finding that perfect tenant can be tough, but if you have the right commercial real estate software in your corner, it can help bridge any gaps. Here are just a few ways it does this for commercial landlords:

  • Lease administration: reduce contractual risks while enhancing tenant relations by utilizing data to analyze your tenant mix and track critical points such as first right of refusal.
  • Property management: track competitor properties and develop custom prospecting lists of their tenants to optimize yours.
  • Reporting management: analyze your tenant mix and lease prospects to see where you stand on the perfect tenant checklist mentioned above.

The perfect commercial tenant may be a unicorn, but the perfect commercial real estate software isn’t. Discover the benefits of Quarem today by requesting a demo!

How Has the Smartphone Revolutionized Lease Administration Software2
Jul 10

How Has the Smartphone Revolutionized Lease Administration Software?

By Guy Gray | Lease Administration Software

Ahh, the smartphone. It’s a go-to distraction for many of us, whether we’re standing in line for that double mocha macchiato at 7 a.m. in the morning or caught in an awkward conversation with a colleague right before we head home at the end of the day. More than 77% of Americans own a smartphone, so it’s no surprise that it’s revolutionized the way we live our lives.

Commercial real estate is no different, as the software CRE professionals use has been greatly affected by the advances in mobile technology. Here are just a couple ways the smartphone has revolutionized lease administration software:

Mobility and Convenience Are King

Commercial real estate professionals are busy people. Smartphones complement your on-the-go lifestyle, so it only makes sense that lease administration software should do the same. Here are a few ways CRE software works with your smartphone to make your life easier:

  • Data in the cloud: Since CRE software like Quarem utilizes cloud-based technology, you can access your data even if you’re not at the office. This wouldn’t have been possible in the days before smartphones.
  • Client communication: You don’t just have one client; you have multiple clients with multiple needs. So if you’re on location hundreds of miles away, you can still check on details related to your lease administration (instead of putting them on hold until you’re in front of your computer).
  • Critical date tracking: Since you’re on the go so much, it can be easy to miss critical dates or upcoming appointments. Lease administration software takes this into account, letting you track everything from lease expirations and renewal options to rent bumps and insurance coverage — and receive customized alerts for each.

Of course, what good is mobility and convenience if it isn’t secure? Fortunately, lease administration software like Quarem takes this into account, even if you’re using it on a smartphone.

Security Has Become a Priority

Data breaches are all over the news these days, so it’s only natural that CRE professionals would have concerns regarding the security of data they’re accessing via a smartphone. The truth is, data pirates have been around well before CRE professionals began using smartphones to access data. Instead of focusing on the threat, focus on the security solutions that lease administration offers. You’ll likely find that security is better than it was before.

Even though data from CRE software like Quarem is available on a cloud-based system, only those with appropriate permissions can access it. Additionally, any files sent are encrypted through a variety of methods so they aren’t compromised. When you compare both of these processes to the manual data access and transfer methods of the past, you’ll undoubtedly have extra peace of mind about the security of the portfolio data you’re accessing when you’re on the go.

Yes, the smartphone revolutionized lease administration software, but you can take advantage of it to make your life is a CRE professional easier. To learn more, contact us today.

5 Clerical Tasks CRE Software Will Eliminate
Jun 27

5 Clerical Tasks CRE Software Will Eliminate

By Guy Gray | CRE Software

For one reason or another, the word “automation” doesn’t trigger the right kinds of reaction in many commercial real estate professionals. You may think it’s just a synonym for software — fancy technology you don’t really need. In reality, it’s so much more than that. When you think of automation, think instead of the word automatically; because that’s what’s going to happen to a lot of your menial tasks if you adopt software that offers a straightforward approach to real estate automation. They’re going to be completed automatically, with minimal or no effort on your part.

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FASB Lease Accounting Checklist - Are You Compliant?
Jun 19

FASB Lease Accounting Checklist – Are You Compliant?

By Guy Gray | FASB

Certain dates are difficult to remember. Your wedding date, your work anniversary and even your birthday can slip your mind from time to time — with various repercussions for each. Some are unforgettable, such as the exact hour and minute your favorite sports team won its first championship. For commercial real estate professionals, there’s one upcoming date you definitely don’t want to forget:

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A Look at Operations Scalability with CRE Software
Jun 06

A Look at Operations Scalability with CRE Software

By Guy Gray | CRE Software

Did you ever have a lemonade stand when you were younger? Those of us who did were awarded with a great early education about how business works, learning about principles like supply and demand, budgeting and so forth. What you might not know is that you can apply many of those same lemonade stand principles to your commercial real estate business today — especially when it comes to operational efficiency and scalability.

In fact, the inability to grow one’s portfolio can be directly related inefficient operations. Fortunately, CRE software can relieve you of this burden. Here’s how:

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Corporate Lease Administration Made Easy with Quarem
May 29

Corporate Lease Administration Made Easy with Quarem

By Guy Gray | Corporate Lease Administration

There’s probably not a person in the world who doesn’t wish they had a time machine. We all wish we could go back in the past and fix mistakes (like those acid wash jeans in the ‘80s), or take a peek into the future (to see who will win the World Series in 2020, of course). Even if you could stay in the present and simply see what the rest of the day holds, you’d take it, right?

Time travel would especially come in handy for commercial real estate (CRE) professionals. Wouldn’t it be nice if there was an easy way to avoid costly mistakes with tenants or more accurately plan for future leases? Well, there kind of is. With Quarem, corporate lease administration has never been easier.

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How CRE Software Can Help You Establish Break-Even Occupancy Rate in Commercial Real Estate
May 02

How CRE Software Can Help You Establish Break-Even Occupancy Rate in Commercial Real Estate

By Guy Gray | CRE Software

Albert Einstein once said, “Pure mathematics is, in its way, the poetry of logical ideas.” While math may seem like poetry to one of the world’s most famous physicists of all time, it probably doesn’t sound like a barrel of fun to most commercial real estate professionals.

Well, when it comes to break-even occupancy rates, anyway. They’re more stressful than poetic.

With all the data CRE pros have to crunch, it can sometimes be difficult to even establish the occupancy rate break-even point in the first place. Fortunately, CRE software such as Quarem’s can help establish this in even the most dynamic portfolios. How? Read on.

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Why You Shouldn't Overlook Training and Support When Shopping a CRE Software Solution
Apr 26

Why You Shouldn’t Overlook Training and Support When Shopping a CRE Software Solution

By Guy Gray | CRE Software , Customer Support

You know that old saying, “If you love someone, set them free?” Yeah, they weren’t talking about software. Yet, it seems like many software solution companies these days do just that when it comes to their offerings. They sell people on what their software can do only to abruptly leave them to fend for themselves when it comes to actually learning how to use the software effectively.

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