If you are like many commercial tenants, you track your spaces with spreadsheets. While they can be effective tools to let you see your situation at a glance, there are better options. Dedicated commercial real estate software does a much better job of tracking your leases and helping you understand your portfolio. Here are just a few of the things that it can do for you that a spreadsheet cannot:
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Real estate software can manage your lease calendar. While a spreadsheet can have a list of dates, assuming that you put them in, it can do little else. A dedicated lease tracking package can inform you via email, text message or calendar display of important dates for such things as CAM adjustments, renewals and options.
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Commercial real estate software can put your entire portfolio on a map and make it much easier for you to visualize all of your company's holdings.
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Spreadsheets require you to build a layout for your data, populate it, and then create your own analytical tools. Dedicated software is already built to handle your real estate data, saving you a great deal of time in setting up and tweaking your real estate portfolio management system.
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The analytical capabilities of commercial real estate software packages go well above and beyond anything that a simple spreadsheet can do.
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While a spreadsheet can tell you about your portfolio, the best commercial real estate packages go out to the market to capture data so that they can tell you how your portfolio is doing relative to it.
Today's commercial real estate software can help you to optimize your portfolio and its operations while reducing costs. With the ability to help you both understand your portfolio better and make better decisions in the future, it is no wonder that companies of all sizes are beginning to use this exciting new tool. Spreadsheets still have their purpose, but they are no longer the best tool for real estate portfolio management and analysis.
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