Whether they’re investing in commercial real estate, multifamily rentals or single-family houses, property owners require proficient and consistently efficient financial management. They should also keep a close eye on their property’s appearance and curb appeal to ensure the best possible renter experience. They must also keep up-to-date with the tax compliance, budgeting and other financial reporting to maximize their ROI.

That’s where real estate administration is in – it’s the collection ifarealtors.com/real-estate-services-and-virtual-board-room-for-directors/ of procedures, actions and systems used to take care of and maintain physical property assets. It’s the job of the individuals who manage those physical assets as well. It’s a difficult job that requires both an understanding of numbers and a heart for the tenants who rely on them.

Real estate managers are responsible for various tasks, such as screening tenants, maintaining the property and contracting leases. All of these are crucial to establishing healthy and happy rental communities that keep tenants coming back. They’re crucial to ensure that property owners are able to turn their properties into profitable investments that will increase in value in time.

However, with the emergence of digitalization, smart buildings, and the expectation of occupants for quality there are new challenges that are keeping facilities managers awake in the night. These challenges include having full access to their portfolio, project management, streamlined maintenance and operations, as well as lease accounting. Accruent Lucernex provides real estate management software that can help with these issues, and boost productivity.