If they’re investing in commercial real estate, multifamily rentals or single-family houses, property owners require skilled and continuous financial management. They should also keep an eye on their property’s image and curb appeal to ensure the best possible renter experience. They must also stay on top of budgeting, tax compliance, and other financial reporting to maximize their ROI.
Real estate management is the collection of processes and actions that are employed to take care of property assets. It’s also the job of those who manage these physical assets. It’s a challenging job that requires an eye for numbers as well as an understanding of the tenants.
Real estate managers are responsible for many duties, including screening tenants, maintaining properties and contracting leases. All of these roles play a vital role in creating a happy and healthy rental community that keeps renters returning. They’re also essential in ensuring that owners can turn their property into a successful investment that increases its value over time.
Facilities managers are now facing new challenges, mainly due to the rise of digitalization and smart buildings. Additionally the expectations of occupants are increasing. These challenges include complete transparency into their portfolio, streamlined maintenance, operations, and leasing accounting. Fortunately, Accruent Lucernex provides real estate management solutions that help with these issues and boost productivity.