A Lease Management Software Can Do These 5 Things Better
Track Latest Data
No matter how big or small your real estate firm is, keeping track of every bit of information about the properties is essential for accurate reporting and decision-making.
Maintaining and keeping track of your assets’ financial details could turn out to be daunting for firms that manage multiple property portfolios. Things could get messy especially when there is a lot of financial information to deal with. However, with a lease management software, you can choose to automatically capture and record information about the properties and the lease status of their occupants thus, eliminating the errors and redundancies. The renewal dates of the contracts, payment deadlines and other such information will be automatically sent to the users which will help them control things from a more comprehensive standpoint.
Manage Payments Better
Send invoices to your contractors on time and notify your tenants beforehand in case there are pending payments.
Modern lease management software can be integrated with your existing accounting system to make financial management easier. Apart from this, track your tax filing, payables and receivables, funds transfer, bank reconciliation and compliance. The good news is, the financial information recorded by the software would comply with the accounting standards of the industry on the best way possible.
Customize data and reports as per the changing needs of your firm and accurately track important details with just a few clicks.
Lease management software allows you to customize data and reports from time to time to track vital bits of information about your properties in a more effective way. Once you start entering the lease data, the software system will automatically start processing it and figure out the vital details that you should remember. As soon you have new incoming information, it will be updated in the software to ensure that you are always dealing with the latest and most precise data. To make things more straightforward, you can customize the data as per your preferences.
Make Advanced Reports
Create lease management reports in real-time using the software’s advanced reporting capabilities.
Update and share lease reports from anywhere and at any time using the lease management software’s latest capabilities. The software can help you generate reports about different shreds of information such as the monthly/yearly incomes of each property, the spaces available for lease, list of tenants and their payment scenario, lease expiration or renewal dates, pending payments and the like. With such precise reporting capabilities, you can get a clear view of where your business is standing at the moment and what are its of options of improvement to maximize ROI.
Enhanced Data Protection
High-standard data protection is one of the biggest reasons why every real estate firm, despite its size, should invest in a powerful lease management software.
Lease software management systems have high standards of data protection. The tools have multiple layers of security in the form of string SSL encryption that guarantees to keep your firm’s information safe and allow recovery by regularly backing up data in case of a crisis. Although most lease management software systems are powered by cloud these days, there are some systems that enable you to export the data and store it with a reliable cloud service provider to garner the data with an extra layer of security and avoid vulnerabilities. This way you can rest assured that the decision makers of your firm will be able to access data from anywhere and any device that they have with them.