If you’re in property management, it’s highly likely that you’ve heard of software solutions for property management. But not everyone has and furthermore, not everyone knows how Microsoft Dynamics property management software (also called Navision or NAV) in particular, can help their business. We wouldn’t be writing this article if we would think that those benefits are not worth your while. Quite the contrary. Continue reading to get to know 6 very unique and beneficial ways how Microsoft Dynamics real estate management programs benefit your business!
1. Microsoft Dynamics property management software suits managers of all kinds of properties
You can find solutions tailored to industrial, residential, commercial or different kinds of properties, but NAV-based software is adaptable for mixed properties. This means that you can tailor and utilize Microsoft Dynamics property management software regardless of the space, area, buildings or plots that you rent or lease. You can definitely say that it’s the all-in-one or one-stop-shop solution for all property management needs. For example, one of the leading software solutions in this industry – SOFT4 Real Estate has been utilized by a diverse list of businesses and organizations that deal with property management. These include retailers, industries, universities, commercial space managers, or even renters or leasers of exclusive property like yachts, land plots, parking lots, etc.
2. The application does more than just contract management
It’s easy to assume that Microsoft Dynamics property management software has the sole purpose of just showing regular things like which lots are leased, which are open, etc. However, it’s much more than that, and apps like SOFT4 Real Estate can offer a lot more than that.
To begin with, besides the obvious lot, area or sub-property management, you can host a sort of CRM for tenant management. Gather and store important contact information (per GDPR, if applicable) and track payments to ensure that everything runs smoothly and optimally.
In addition to that, Microsoft Dynamics can also act as a project management tool because you can calculate CAM (Common area maintenance) fees as well as manage work orders for repairs, maintenance, etc. It’s easy to delegate tasks, gather and accept tenders, assign task to your maintenance staff or responsible managers and track every possible status change, of which, tenants can then be informed. It’s a great way to keep tabs on what’s happening in the property at all times and letting your tenants know what is going on as well.
3. Shorter paper trail
This is a benefit that can only be noticed a while after you implement the software into your day-to-day. If you aren’t currently using the latest version of Navision, you might be wasting administrative resources and precious company time trying to fill out all of those paper forms and documents. Instead of having to print and archive in bunches, you can digitize every single legal contract and have a ready-made template within the SOFT4 Real Estate app that can be altered according to your needs.
Besides storing lease agreements, changes, bills, invoices and other documents, you can generate detailed charts and reports that might be used by your finance staff or could provide valuable insight for shareholders or investors. In this way, Microsoft Dynamics 365 for real estate also works as a dedicated software for finance and operations which are related.
4. Self-service access for tenants
Commonly overlooked is the feature or better to say – a separate module for the self-service of your subletters and tenants. The tenant self-service portal is actually one of the most useful and beneficial features of Microsoft Dynamics property management software. This portal is the main form of communication and the main area for information exchange between the property manager and the tenant.
Once the manager logs in on his end, they can send out invoices, deliver general or specific updates, send out newsletters or important information, regarding changes or news. From the end of the tenant, they can track their bills, see important messages from the tenant, download documents, request maintenance or attention, etc.
It’s a mutually beneficial feature to have that has great long-term benefit in optimizing maintenance and having a more automated way of delivering important news to tenants, as well as billing them.
5. Get much more done in much less time
When it comes to management and management-related tasks, they’re usually very time-consuming. Procurement, sourcing, reviewing, assessing and drafting documents (all that falls under the responsibilities of the managers) could take a few or a few dozen hours every week, depending on the size of your organization.
However, with software solutions like SOFT4 Real Estate, property managers can eliminate a lot of manual labor which doesn’t create value, automate almost every single managerial task and optimize the performance of their staff. Departments can change and edit info in real time, making it impossible to duplicate data entry or making untraceable or irreversible mistakes in shared documents.
6. Allows for better insights
Property managers are usually in a lot of competition. But regardless of it, you still have to keep your tenants and occupants happy. If you aren’t doing that, you can’t expect to have great business results.
This is one more area where dedicated Microsoft software for real estate management shines. As we mentioned before, it’s not only a managerial tool since it has great functional capabilities that can be used by accounting or financial staff. The latter can always make use of the very user-friendly yet technical and capable insights and report-generating tool. As an example, SOFT4 Real Estate is capable of generating reports for individual units (or buildings, sites, etc.) with regards to finances, occupancy rates, vacancies and other factors.
These charts can be used to adjust marketing or pricing strategies as well as for a lot of other tasks.