How to find the best industrial property management program for your business?

All things considered; industrial property is hard to manage. You have to find the management methods and implement solutions which optimize every possible process. Since you usually have either large spaces or massive numbers of property to manage, systemic and digital solutions are a must-have. And that is precisely why managers of industrial property turn to property management programmes to help reduce operational costs and meet their requirements. In this article, we will try to figure out how you can find the very best property management program or software for your business!

Analyze the list of available features of the property management program

This should be the first thing on your agenda before making any kind of deals or selections. Since the main goal of such software is to optimize day-to-day management operations and reduce operational costs simultaneously, you have to be sure that the software solution can cover those needs.

Most property management software providers list the features on the website or have brochures and presentations with the aforementioned information. If we were to visit one of the industry-leading industrial property management program website – Soft4Realestate.com, we would find that industrial property owners can

• Sign documents digitally
• Manage property leasing and leasing contracts
• Prepare accounting documents and financial reports
• Manage every unit up for lease individually
• Have access to a broad range of analytical tools
• Manage tenants and have access to most important contact info (GDPR compliant)
• Send out bills and invoices
• Create a self-service portal for customers
• Organize maintenance and calculate maintenance costs

That’s not it. There are quite a few more features but it would take too much space to list them all, so we mentioned only those, which are the most popular.

Pick something that is specifically tailored to meet the needs of industrial property management

But the feature list isn’t the point where you should end your search. Far from it. Seeing the right features does not mean that the software is suitable for your business. You should see whether the software is recommended for industrial property owners (or designed specifically for them). As you probably understand, renting and leasing commercial space is far different from having industrial space up for leasing. Contracts, client relationship management and even property analytics have to be done differently. It can be best to pick a versatile software solution which is suited to all sorts of businesses. Some programs have some degree of customization. You can use it to tailor the app specifically to your needs. If you can do that, the software solution will definitely be worth the investment.

Get a live demo or a free trial to check out property analytics in action

If you’re satisfied with the feature list and have reassurances that the program is usable for industrial property management purposes, you can request a live demo or a free trial. The property management program which we mentioned earlier (SOFT4RealEstate) offers both a free 14-day trial without any obligations as well as a guided demo.

Seeing the demo or using the trial app will help you see how the software works in real-life environments. You can see the versatility of the available tools, find the best ways to use various features and get to know how the platform could be integrated into your day-to-day operations. For example, let’s say that renovation/maintenance jobs of 5 different properties need to be carried out. You can use the work order management module to efficiently oversee every maintenance and repairs-related job on the premises. Create requests, delegate tasks, track progress and do it all in the most efficient way possible. Furthermore, SOFT4RealEstate and other high-end property management apps for industrial properties should allow to create reminders and carry out recurring maintenance schedule (security check-ups, cleaning, inspection, etc.).

Involve your staff in the decision

It’s one thing when the decision-makers decide to implement a program for property management because on paper, it will reduce costs and improve production. It’s a whole different story when the management staff and the people who will use the software daily, get involved.

This is why we recommend calling your staff to voice their opinions about the trial version. Experts and managers could also make list of requirements for the software that you choose. For example, thy could require a module that has a GMP calculator or can automate billing as well as invoicing for the tenants or renters of your properties.

There might also be state-of-the-art features that you can introduce to the staff. For example, a self-service portal for tenants and lessees could mean even less work on your end. Since top of the range industrial property management software already automates invoicing, there is very little need for direct communication between your staff and the tenants. They log on to the self-service site and can visually see contract details, download invoices and track maintenance orders, related to their property.

Finally, your staff can also become more productive. Property reporting can be done much quicker thanks to automated software. Most programs will have analytics and reporting tools, built in. Using those tools, every company can easily utilize the benefit of having access to real-time data, swiftly generated financial reports and much more.

Get a quote

We all know that a broad list of features and appreciation of the staff aren’t the only criteria that matter. The cost of the program is inseparable from the choice, too. Well, there usually are two different routes you can go with. The first one is a subscription fee where users rent out software and pay a fixed monthly fee. The other choice is to purchase a license and have a limited number of users who can access the app (with price per user added with every extra user). The best way to pick is to get a quote and compare the fees!