In the past 10 years, technology has revolutionized the way we think about everything from communication to entertainment to information management. Landline telephones are now archaic technology, car phones seen in 90’s movies are almost laughable and a lightweight headset can transport its wearer to far off locales, deep space or ancient history via the marvels of virtual reality.
It should come as no surprise, then, that technology has also changed the way we think about property management and commercial real estate. The depth and breadth of CRE portfolios has increased exponentially with technology-based, property management solutions, such as those offered by Quarem with our suite of digital property management solutions. Many companies and individuals who previously felt out-staffed with both resources and manpower are now finding they have the ability to easily manage larger and more diverse CRE portfolios with the help of their virtual technology partners.
A Larger Portfolio with Less Work
Managing large CRE portfolios used to require a full complement of analysts, accountants and account managers, each specialized in interpreting one specific area of data or administering one aspect of the overall business. The CRE solutions offered by companies like Quarem have made this large-scale, specialized workforce an antiquated way of doing business. Lease administration is no longer handled by a frazzled and overworked Gladys and Ralph the property manager no longer has to try to juggle, and at times confuse, which properties need upgrading or which may be due for a rent increase with their next lease renewal.
Managing these data inputs and action areas would have taken an ever-increasing staff in previous years. With cloud-based CRE property management services, fewer people can now do more, freeing up resources to generate more revenue and allowing resources to be delegated to growing business instead of micro-managing data points.
Your Properties May Not Be in One Place, But Your Information Is
A larger CRE portfolio opens opportunities for diversity of the properties within. Property owners can hedge against market instability by combining a variety of types and sizes of real estate. Office space occupancy may be down, but never fear, commercial retail rates are way up. Thanks to companies like Quarem that supply the systems needed to manage a variety of distinct types assets, owners can feel safe and secure knowing that while their properties may not have much in common they can compare apples-to-apples when it comes to the essentials of their lease administration and property maintenance and management information. Variety is, after all, the spice of life.
Apples to Apples, Even When You’re Handed Lemons
With Quarem’s modern technology solutions, managing a larger portfolio of properties isn’t just possible, it’s easier and more efficient than ever. Owners, managers and administrators can now compare data across a variety of individual locations, identifying at a glance potential problems and heading off issues such as missed renewal deadlines or problematic industry or payment trends. Stacks of folders have been replaced by efficient and intuitive software solutions.
The last 10 years have seen huge changes in the way CRE portfolios do business. It only makes sense then, that your management solutions keep up with the innovation and growth seen in the rest of the industry. With cloud-based software, lease administration has never been easier. Your properties may be large in number and in wildly differently locations, but with solutions like Quarem, all your information remains accessible and in one central, straightforward and easily managed database.