How Lease Auditing Software Will Help a CRE Professional Sleep Better
Sep 19

How Lease Auditing Software Will Help a CRE Professional Sleep Better

By Guy Gray | Lease Auditing Software

You’ve tried counting sheep, but that didn’t work. You’ve taken natural, sleep-enhancing supplements, but you still wake up just a couple hours into the night. Heck, you even cut back on your (admittedly excessive) coffee intake, but it’s had no effect. You simply can’t sleep at night these days.

Your mind is racing with the potential errors infesting your lease portfolio. Did you store that lease proposal document in the right folder? Do you have any expirations, termination or renewal options coming up that you didn’t know about? Are your rent projections for the next quarter on track, or did you input the wrong information in your spreadsheet?

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CRE Software and Your CRE Asset Management Strategies
Sep 10

CRE Software and Your CRE Asset Management Strategies

By Guy Gray | CRE Asset Management

As a commercial real estate professional, you spend a lot of time looking at your properties from an “outside” perspective. What is the square footage? What does the neighborhood look like? What’s the market value? But have you ever stopped to think about the physical elements that reside within a prospective or existing space? The physical assets in your space have tremendous value to your organization, so you’re going to need a thought-out strategy if you’re going to manage them properly.

While there may be a relatively static “rule of thumb” list for CRE asset management, the vast majority of these strategies lean on data analytics, often supplied by CRE software, to help identify and make data-driven decisions.

Why Asset Management Strategies?

You might not even think you need an asset management strategy. After all, you’ll just order the assets you need and move on, right? Wrong. For one, most of these assets require maintenance. Secondly, there may be insurance coverage involved. The list of critical aspects related to your asset management goes on and on. Here are a few other elements involved in asset management

  • Cataloging all equipment, inventory, furniture and other assets
  • Keeping tabs on the locations for all your assets
  • Tracking the details (model, location, warranties, etc.) about your assets
  • Monitoring expirations for any leased assets
  • Noting usage, maintenance, repairs, work orders and appraisals of assets
  • Storing documentation related to your assets

All of this goes to show that data and reporting are crucial for making strategic decisions related to your assets. A sound strategy is the only way to truly have control over them so they don’t negatively impact your bottom line. Fortunately, commercial real estate software can help.

Asset Management with CRE Software

Commercial real estate software like Quarem gives you all the measurements, facts, data and information you need for your asset management strategy. From computer and furniture to trade fixtures, vehicles and more, CRE software allows you to track all of your inventory data, maintenance records, warranties and reports from start to finish. You can also monitor and manage all documentation related to your assets, securely storing them and generating reports related to your assets on the fly. Combine that with date tracking and the ability to post notes detailing the life of your assets, and you’ll be able to gain meaningful knowledge and wisdom that you can apply to your asset management strategy.

If you’d like to learn more about how commercial real estate software can enhance your CRE asset management strategies, request a demo of Quarem today.

Commercial Real Estate Reporting Dashboards - Improving Your Operations
Sep 06

Commercial Real Estate Reporting Dashboards – Improving Your Operations

By Guy Gray | CRE Reporting Dashboards

There’s a popular quote that says, “If you aren’t improving, you’re falling behind.” This could apply to your intellectual endeavors, your time in the gym or your relational pursuits, but it can also apply to your professional development as a commercial real estate professional.

Put simply, if you aren’t improving your CRE operations, you’re going to lose to your competitors.

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10 Online Resources for _Green_ CRE Pros to Bolster Their Industry Understanding
Sep 03

10 Online Resources for “Green” CRE Pros to Bolster Their Industry Understanding

By Guy Gray | CRE Professionals

When someone mentions the word “green,” they could be referring to the color (obviously). But they could also be making a reference to the environment. Or, they could be talking about someone who is inexperienced. If the latter defines you as a commercial real estate professional, that’s OK. Every CRE pro started off “green” at one point. The only question is, how do you grow?

Beyond the traditional education, internship and networking path, CRE pros will benefit from developing a reading and following list of top minds and resources in the industry. We’ve covered forums specifically on our blog before, but who are the top minds to follow on Twitter? Who should you subscribe to on YouTube? What about blogs?

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Does Commercial Real Estate Software Help with Your Tax Preparations
Aug 30

Does Commercial Real Estate Software Help with Your Tax Preparations?

By Guy Gray | Commerical Real Estate , Taxes

Benjamin Franklin once wrote that, “In this world, nothing can be said to be certain, except death and taxes.” The only difference between them, as actor Will Rogers once noted, is that, “Death doesn’t get worse every time Congress meets.”

All humor aside, taxes definitely present potential pitfalls for all of us. This is especially true for commercial real estate (CRE) professionals — even those with the best intentions. How do you ensure you prepare your taxes properly? CRE portfolio management software is a good place to start. Read on to discover how it can help with your tax preparations.

Improved Bookkeeping

From depreciation to exemptions, CRE software can clean up and organize your books in ways that physical bookkeeping or spreadsheets simply cannot. Track things like maintenance and repair receipts, discover new personal exemptions and create a better asset management strategy all in one place: your cloud-based commercial real estate software portal. Not only will it increase collaboration and organization, it will ensure that your vital information is accurate.

FASB Compliance

Improved and consolidated bookkeeping is just one example of how CRE software can help with taxes. An arguably even bigger benefit is FASB compliance. With the new FASB leasing standards on the horizon, it’s important to start making adjustments now. CRE software can help you better manage this by tracking your lease length and renewals, as well as giving you data for leverage during big-pressure negotiations with your current and future clients.

Better Forecasting

It can be difficult to plan for the upcoming tax season, let alone the following year, five years or 10 years. CRE portfolio management software makes this more feasible with customizable reporting dashboards that you can use to forecast and predict trends for a variety of elements related to your portfolio — including financials. By analyzing your bookkeeping data and recognizing patterns, strengths and weaknesses in your operations, you’ll be in control ofyour future tax preparations.

Professional Support

Finally, if you choose a commercial real estate software solution like Quarem, you’ll enjoy continued support from CRE industry experts who will be available to answer any tax-related questions or concerns you may have. Whether you prefer online or onsite training, the support team at Quarem can analyze your use of the application when it comes to tax preparations and offer best practices and advice for making the software do what you want it to do.

Does commercial real estate software help with your tax preparations? See for yourself when you request a demo of Quarem today.

Blockchains and Commercial Real Estate - Is It Too Early to Even Care
Aug 22

Blockchains and Commercial Real Estate – Is it Too Early to Even Care?

By Guy Gray | Blockchains

See if you can answer this question without Googling it: what resource increased in value by 61,190% from 2011 to 2017? If you guessed Bitcoin, you’re correct. In fact, if you invested $100 in Bitcoin as an early investor on June 28,2010, your investment would be worth $28.3 million today! When something surges in value like that, professionals in all industries — commercial real estate included — take notice.

For Bitcoin to work, however, it requires blockchains. Some theorize that these blockchains, the infrastructure that keeps cryptocurrency honest, are the future of the “financial aspect of real estate.” But is the potential too low here or is this too far off to even care? Read on to find out.

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Top Five Considerations When Selecting Your Lease Administration Software Solution
Aug 14

Top 5 Considerations When Selecting Your Lease Administration Software Solution

By Guy Gray | Lease Administration Software

Remember that famous movie line, “I’m going to make him an offer I would love for him to consider?” No, of course you don’t. That’s because the real line ends with “an offer he can’t refuse.” Fortunately, commercial real estate professionals these days aren’t bound to the same set of limitations. When it comes to lease administration software, anyway, you have options.

The only question is, what should you look for? From conveniences such as dashboards and notifications to more consequential aspects such as FASB compliance, here are the top five aspects you should consider when selecting your lease administration software solution.

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Eliminate Money Vampires with Commercial Real Estate Software
Aug 01

Eliminate Money Vampires with Commercial Real Estate Software

By Guy Gray | CRE Software

Commercial real estate professionals face many adverse situations during their normal routines. Lack of coffee is one of the most common. Lack of time is another. But there are more sinister adversaries lurking about that CRE professionals may not even know exist. They’re called “money vampires” and these parasites are out to get you and bleed you dry.

Unnecessary fees, failure to adhere to accounting standards and improper tax filings are just a few examples of how CRE professionals may be bleeding money through avoidable “money vampires.” Fortunately, commercial real estate software can give you the “weapons” you need to properly eliminate them. Here’s how:

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Put Quarem's CRE Software to Work and Get Back to Relationship Building
Jul 27

Put Quarem’s CRE Software to Work and Get Back to Relationship Building

By Guy Gray | CRE Software

Wouldn’t it be nice if we could have an intern for all our daily tasks in life? “Intern, brush my teeth!” “Hey, intern, can you make me some coffee?” “Intern, will you please eat dinner with my spouse in my place tonight?” Unfortunately, this is just a fantasy, but it sure would be nice. This is especially true if you’re a commercial real estate professional, as it’s easy to get bogged down with day-to-day clerical work.

While an intern may not be feasible — since you want to make sure your clerical work is done right — there is a more efficient way to accomplish your daily tasks so you can get back to what you do best: building relationships with prospects. What, you may ask? CRE software.

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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.

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