Mother Nature is unpredictable. It seems like professional meteorologists don’t even know what is going to happen half the time. They say it’s going to be a torrential downpour in the evening and there aren’t even a few drops on the ground. They say it’s going to be sunny for your weekend softball game and it ends up raining cats and dogs. It can be difficult to see the point of a forecast, sometimes.
Commercial real estate is the same way. Forecasting the future of your CRE portfolio may seem as reliable as forecasting the weather. However, this is only the case if you’re still using old-school methods to manage it. CRE software like Quarem, on the other hand, gives you an accurate overview of your entire portfolio of leased and owned space that allows you to performance leverage historical data so you can better project future performance. Let’s show you how.
Keeping track of all the leases, properties, active projects, and FF&E assets in your portfolio is a complex process. Your leases are unique, and each have their own sets of dates, options, and expenses. The space you own and operate needs constant maintenance, and if you are a landlord, you have to keep an eye on the market rates and vacancies within your space. No matter who you are, tenant, landlord, or even broker, you will have a carousel of revolving deals, negotiations, and other activities that require many different contacts and forms of communication. Finally, not only do you have the actual space to worry about, but you have to keep track of the physical assets within it that help your business operate.
The key to managing it all is accuracy. Good decisions and growth stem from information that is checked and double checked, closely monitored, and strategically organized. Quarem gives you the space to consolidate everything related to your space, organize it in a way that makes sense to your operation, and utilize the system of access controls and time/date/author stamping to keep track of the changes that occur. Once you have consolidated your accurate data, you can then have a complete overview of your portfolio that can help you identify trends. The dashboard analytics give you a quick visualization that are helpful for day to day decisions, while the detailed reports allow you to drill down deeper for those more complex determinations.
The past can always be a helpful consideration when making plans for the future. Recording every stage that your portfolio transitions through can help you reflect and, in turn, project future performance. For example, Quarem’s Income/Expense Schedule in the Lease Administration feature allows you to not only track your past rent payments, but create individual line items for your future rent increases. Having the past, present, and future expense values organized by lease can help you plan for growth or identify areas that need improvement.
As mentioned above, the trend identification and historical data capabilities of Quarem are tremendously helpful when it comes to projecting future performance. Additionally, these capabilities help you add value to your portfolio by steering you away from costly mistakes and allowing you to analyze your space so that you can ensure that it fits your needs. It’s beneficial for teams as well, since sharing and storing documents are easy and the software works on all your devices. In a nutshell, Quarem gives you an all-in-one, customized look at your entire portfolio based on accurate data and real market trends.
It only gets better the longer you have Quarem, too, as you’ll have more historical data to analyze and can post notes on maintenance, improvements, lease issues, equipment and other critical points related to a specific property. All of this CRE technology lets you better prepare and project moving forward.
To see Quarem’s forecasting capabilities for yourself, request a demo of the CRE software today.
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