REoptimizer® Blog

7 Key Questions for Commercial Lease Administration Software

Posted by Don Catalano on May 10, 2016 9:31:34 AM

While many commercial lease administration software applications offer a dizzying array of features, some of the most important capabilities of the software aren't always clear from the marketing materials. Here are some questions that you should ask your vendor to get a deeper understanding of the program before you commit to it.

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Topics: lease administration software

Benefits of Web-Based Commercial Lease Administration Software

Posted by Don Catalano on Jan 16, 2015 9:13:00 AM

If you have to manage more than one or two locations, your company needs full-fledged lease administration software. While Excel and Outlook might be adequate to track one or two locations, even small commercial real estate portfolios contain too many details and too many critical dates for you to be able to trust general purpose software. Furthermore, given the increasing stringency of audits, using the right software can help to keep your books in the right shape while also maximizing your portfolios efficiency. Here are five features to look for in your corporate real estate applications.

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Topics: lease administration software

Benefits of An Integrated Workplace Management System (IWMS)

Posted by Don Catalano on Jul 28, 2014 8:50:00 AM

An integrated workplace management system (IWMS) is a powerful piece of enterprise software that helps your business manage its real estate portfolio. IWMS solutions replace the old-fashioned method of using calendars, excel and paper files to manage a real estate portfolio. Once installed, they provide a single interface to everything you need to know about your portfolio, offering multiple benefits.

Reduced Staff Sizes

With an integrated workplace management system keeping all of your corporate real estate information in a centralized place, your facilities department can do more work in less time. Ultimately, this leads to a need for fewer staff hours to do the work. Given that the software can also automate repetitive processes, it can further reduce the size of your staff.

 

Better Service

The efficiency benefits of an IWMS also make it easier for your facilities staff to service the rest of your company. With all of the information they need in the right place, they can quickly answer incoming questions and connect departments to the right resources to solve their occupancy-related problems.
In the same vein, an integrated workplace management system also lets you take better care of your buildings.

Many IWMS packages track your building's maintenance schedules and the ages of their components. This lets you send out preventative maintenance on an optimized schedule, balancing the desire for maximizing the useful life of your facilities with the need to control maintenance spending. You can also plan your capital expenditures in advance, helping you manage cash flows.

 

Greater Space Efficiency

Vacant space costs approximately as much to occupy as space that your business is using. With an IWMS, you can track which spaces you are using and which you aren't. Based on its reporting, you can then adjust your facilities for greater efficiency and, if necessary, allow leases to expire or put space on the sublease market to recoup some of their costs. For some companies, this benefit alone is enough to cover the cost of their integrated workplace management system project.

 

Greener Buildings

The same benchmarking tools that let you compare buildings on the basis of occupancy also apply to other building metrics -- including energy consumption. With an IWMS, you can quickly calculate norms for your company's portfolio and see which buildings don't match. Based on those comparisons, you can extract best practices from your most efficient buildings and make necessary changes at your least efficient ones. Beyond reducing your company's environmental impact, this practice can also help to reduce occupancy costs.

The most elaborate integrated workplace management system packages can integrate with your company's business intelligence programs and with your building's control systems. These packages can frequently cost millions of dollars and take years to install. REoptimizer® gives you access to powerful tools like expense benchmarking, cost comparisons and occupancy analysis at a fraction of their cost.

Other great CRE Software articles:

Facilities Management Software, IWMS, CMMS: Which Do I Need?

Top Five Reasons You Need Commercial Real Estate Software

The Perfect Commercial Lease Administration Software



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Topics: integrated workplace management system, IWMS, lease administration software