Soft4RealEstateSoft4RealEstateSoft4RealEstateSoft4RealEstate
  • Product Tour
    • First Column
      • Lease unit management
      • Tenant management
      • Lease contract management
      • Common area maintenance (CAM) calculation
      • Work orders management
    • Second Column
      • Maintenance management
      • Lease document management
      • Deposit management
      • Billing and invoicing
      • Property reporting and analytics
    • Third Column
      • Property lease sales management
      • Financial management and accounting
      • E-signature in property management
      • Tenant self-service portal
      • See all features
  • Industries
    • Office
    • Retail
    • Industrial
    • Commercial
    • Mixed properties
    • University properties
  • Why choose us?
    • About us
    • Our team
    • Case studies
    • Meet our customers
    • References
  • Pricing
  • Resources
    • Blog
    • Downloads
    • Product Updates
    • FAQ
  • Become partner
  • Contact Us
  • Try Free
    • Get free trial
    • Watch overview videos
    • Watch guided demo
    • Request a live demo
NextPrevious
Commercial property management

How software for commercial property management helps businesses reduce vacancies

By Camila Dz | Blog | 0 comment | 1 September, 2021 | 0

The word ‘vacancy’ is bad in real-estate rent or leasing industries. Vacant lots and areas mean lack of optimization and point to the fact that you’re not getting the best return from your investment. Each manager of properties is striving to get 100% occupancy rates and eliminate all vacancies. Amidst the pandemic businesses especially struggled to retain tenants and now they’re working hard to bring old ones back or have new ones occupy their space. In the epicenter of this, we have software for commercial property management. It’s a tool that, as experience shows, has been very helpful for managers who are trying to maximize occupancy rates and reduce vacancies. How? Let’s find out!

Why are there more vacancies in the first place?

Covid struck the world hard. It’s more than 18 months after it started but people are still very new to the change and the impact which have occurred around them. Businesses, especially in the service sector, have struggled trying to regain steady cash-flows and their revenues are still hurting. But the main numbers which indicate the health of the overall global economy showed that the troubles were short-lived and that we’re kind of back to normal. So why are there so much more vacancies for managers to deal with?

First off, you have the work-from-home boom which a lot of businesses fell in love with. Studies have shown that the increase of employee happiness whilst working from home is more temporary and they spend more time in doing the same amount of work. Besides, it’s much more difficult to have everyone on the same page, especially with multicultural or just larger teams, in general.

Next up, you have small businesses that are fearful of the ever-looming restrictions that might lead them to not being able to do any business whatsoever. So, how can software for commercial property management help this and how have many renters and managers been using it for their benefit?

Software for commercial property management – what role does it play?

Since we began discussing the help of property management software for commercial renters and managers, let’s dive into the specifics

Case studies and research by businesses showed that during the pandemic, businesses who were tenants, wanted more flexibility. In case of sudden changes, they wanted to have clauses in their contracts that allowed them to opt out. Since managers weren’t prepared for such a situation, they weren’t able to offer contract amendments and only understood the right course of action post-factum. Besides, even with the new knowledge, it took the managers too long to prepare the documents and, fearful of going into sort of limbo without guarantees of being allowed to continue their business, enterprises just moved out instead of re-negotiating.

Software makes it much easier to draft legal documents as you can prepare a template, upload it and send to everyone. So, instead of losing tenants left and right, you could’ve been proactive and offer amendments to keep them for longer. Whilst it’s not always 100% profitability due to the concessions having to be made, it’s 100% occupancy which sooner or later, will result in the highest possible profits.

SOFT4RealEstate can help you sign and approve documents digitally, with an e-signature, meaning that amendments and changes to contracts can be fulfilled very quickly, making it easier to keep business for longer, in this ever-changing business climate of today.

Is the value of such software sustainable?

But with one very concrete benefit listed, many sceptics could still look at this software and think whether it’s worth all the investment. To begin with, the investment, especially when compared against the potential benefits – isn’t that grand. Licensing commercial software for small business property management isn’t too expensive. Besides, with SOFT4RealEstate, you can expect to have the functionality that you need. By running the software on the cloud, you’ll be able to have unlimited ways to access it (via workspace or remotely). If updates or expansions are needed, they can be arranged quite quickly, thanks to the competent and professional IT devs.

Due to the fact that it is continuously updated and improved, as well as receives 365 days-a-year support, SOFT4RealEstate and most other software for commercial property management is definitely an investment with long-term value. You can keep historic data and generate reports, forecast and make predictions, improve pricing plans, find where to upsell and do much more in helping your property management business not lose customers or worse – allowing them to move to your competitors who swiped them right from under your nose.

It’s worth mentioning that the large amount of data you gather with the help of management software, helps you improve customer relations, so it’s also like a partial version of a CRM software.

How you can make the most of this tool?

Besides being able to make your business a much more lucrative partner for tenants and helping you retain their business during uncertain periods, commercial property management software is also capable of much more.

For example, it has different modules that you can utilize to improve your business from almost every angle. Like SOFT4RealEstate has a dedicated module that acts like its own separate bidding software for commercial cleaning services where you can just keep track of all maintenance tasks (like cleaning, which was used as an example) in the building. 

Depending on the exact choice of software, the very specifics of available tools and possible avenues to explore, can differ. But, in terms of general improvements for your business, management software can help you save hours of time almost on a weekly basis. It will improve relations with clients, help make your services more attractive and reduce the so called churn-rates of clients leaving unexpectedly.

No tags.

Camila Dz

More posts by Camila Dz

Related Post

  • Commercial Property Management: What to Expect in 2015?

    By Camila Dz | 0 comment

    Every year is somehow different and bring new things into the life, work, daily activities. New trends and tendencies might be significant for the work activities, especially if you are working in a commercial property management industry. This article will tell you what to expect in CPM industry in 2015 and how to prepare for it.

  • 6 Critical Things to Consider when Choosing Software as Service

    By Camila Dz | Comments are Closed

    Software as a Service is changing the software world today. Every year you see increasing number of companies bringing cloud based software solutions to the market, instead of or along with on-premises solution they offer. It is really difficult to decide which one to choose for your company or your own needs. Therefore, you need to know what to look at when deciding between one or another type of software solution. This blog article will explain the differences between one or another and hopefully helps you to make the right decision.

  • What’s New on Soft4RealEstate in Q4, 2015?

    By Camila Dz | Comments are Closed

    We care about our customers’ success, so we develop Soft4RealEstate commercial property management system constantly and once in quarter we let the world know about new Soft4RealEstate functionality and benefits for the property management companies.

  • 7 Circumstances in Which You Need to Say Goodbye to Excel for Your Property Management

    By Camila Dz | Comments are Closed

    Changes are not easy. However, at some point in your property-management business, someone may ask you, or you yourself will feel the question deep inside: “should we keep managing our properties with Excel, or is it time to switch to a more complex property-management software system?” You are not the only one asking this question. In this blog, I will list 7 circumstances in which it’s time to change your software from Excel to a more complex property-management system.

  • Commercial Property Management: What to Expect in 2016? Trends and Tendencies.

    By Camila Dz | Comments are Closed

    Time is passing imperceptibly. Yet another year has passed, and we are already well into 2016. It is no secret that the commercial property-management industry is not changing very much. However, every year brings with it something new, something different… Meaning: new challenges lie ahead, which we have to be prepared for. The most important thing is to know which direction to take in order not to regret your decisions. So, what we can expect from 2016 and how to prepare for that?

  • TOP 10 Characteristics of the Successful Real Estate Agent

    By Camila Dz | Comments are Closed

    Perhaps every real estate agent at least once in a while questions himself “why is it not selling?” or wonders why somebody is making a fortune and others doing the same job, in the same area can count their closed deals on the fingers of one hand. So, what it takes to be a successful real estate agent? What characteristics do you needd to have in order to call yourself successful?

  • 9 Things You Need to Evaluate Before Purchasing Your New Property-Management Software

    By Camila Dz | Comments are Closed

    So the time came when you think about changing your property-management system? But do you know what business issues need to be addressed when choosing new property-management software? Some of the business issues are essential, so you need to address those first when thinking about your new software features; some software features might seem nice to have, but you need to evaluate them thoroughly. So, do you know what you need to consider in order to choose the right and relevant software for you?

  • What’s New on Soft4RealEstate in Q1, 2016?

    By Camila Dz | Comments are Closed

    We care about our customers’ success, so we develop Soft4RealEstate commercial property management system constantly and once in quarter we let the world know about new Soft4RealEstate functionality and benefits for the property management companies.

NextPrevious

Recent Posts

  • Covid triggered trend – managing businesses remotely with a property management program for enhanced reaction times
  • What is the cost of using outdated property management software?
  • More than just a CRM – Microsoft Dynamics property management software
  • How software for commercial property management helps businesses reduce vacancies
  • Use a property management program to optimize your property management business

Recent Comments

    Archives

    • October 2021
    • September 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • August 2020
    • April 2020
    • February 2019
    • May 2018
    • March 2018
    • February 2018
    • November 2017
    • October 2017
    • September 2017
    • June 2017
    • May 2017
    • January 2017
    • December 2016
    • November 2016
    • September 2016
    • July 2016
    • June 2016
    • May 2016
    • April 2016
    • March 2016
    • January 2016

    Categories

    • Blog

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    • Real estate software
    • Product Tour
    • Industries
    • About Us
    • Pricing
    • Contact Us
    • Member area
    • Become partner
    © 2019 Soft4RealEstate.
    • Product Tour
      • Lease unit management
      • Tenant management
      • Lease contract management
      • Common area maintenance (CAM) calculation
      • Work orders management
      • Maintenance management
      • Lease document management
      • Deposit management
      • Billing and invoicing
      • Property reporting and analytics
      • Property Lease Sales management
      • Financial management and accounting
      • E-signature in property management
      • Tenant self-service portal
    • Industries
      • Retail property management software
      • Office property management software
      • Industrial property management software
      • Commercial property management software
      • Mixed property management software
      • University property management software
    • Pricing
    • Why choose us?
      • About Us
      • Our Team
      • Case Study
      • Meet Our Customers
      • Become a partner
    • Resources
      • Blog
      • Downloads
      • Product Updates
      • FAQ
    • Contact Us
    • Try Free
      • Get free trial
      • Watch features videos
      • Watch guided demo
      • Request a live demo
    Soft4RealEstate
    Use of Cookies

    This website uses cookies which improve browsing quality and user experience. In addition, they allow us to make the website more user-friendly. By clicking “Agree” button, you agree to the use of cookies. You can withdraw your consent at any time. For more information, please visit privacy policy page.

    Strictly necessary cookies
    These cookies are necessary for the operation of the Website and may not be deactivated in our systems. Strictly necessary cookies improve the performance of the Website, its quality and user experience. Strictly necessary cookies activate main functions. You can set your browser to block these cookies and notify about them, however, in such case, certain sites of the Website may be unavailable.
    I accept strictly necessary cookies
    Statistical cookies
    These cookies collect anonymous information and enable to count visits and the source of visitor flows so that we could measure and improve the performance of the Website. The entire information collected by these cookies is generalized; therefore, collected data are used anonymously. If you disable these cookies, we will not know you have visited our site.
    I accept statistical cookies
    Marketing cookies
    These cookies are used to determine which offers or any other information could be of interest to you. These cookies uniquely identify your browser and devise. If you disable these cookies, you will not be able to see our targeted advertisements in other various websites.
    I accept marketing cookies