Whether working individually or as part of a team, there’s no denying the complexity and challenge of the commercial property manager role.
With seemingly insufficient hours in the working week, commercial property managers are expected to take the lead in property maintenance, tenant management, staff recruitment, and report creation among many, many other tasks.
Thankfully, to help alleviate the workload, there is a varied range of commercial property management software that can make the day-to-day tasks of commercial property managers much easier.
From tenant administration to reporting to inspections, here are the best solutions property managers should look to include in their tech stack.
The Best Commercial Property Management Software
- MRI Property Management X
- Property Inspect
1. MRI Property Management X
MRI Property Management X, also known as MRI PMX, is a powerful cloud-based commercial property management software solution developed by MRI Software. It serves as an open, flexible, and connected proptech platform, primarily designed to assist in managing some of the largest real estate portfolios in the UK and Europe, with features such as:
- Agile Functionality: PMX offers agile functionality that can adapt to various sectors, asset types, currencies, and geographies.
- Centralised Data Management: PMX provides a highly intuitive and centralised platform for managing, maintaining, and analysing property data, simplifying data management and making it easier to access critical information anywhere, at any time.
- Customisable Reporting: The platform allows property managers to customise and configure reporting, providing real-time business intelligence and key performance indicators (KPIs) for specific requirements.
- Comprehensive Suite: PMX is a comprehensive suite of tools that encompass commercial real estate and financial software. This helps to enhance overall business operations, granting a 360-degree view, and it can be tailored to meet the operational needs of commercial property managers no matter the portfolio size.
Benefits of MRI PMX
PMX simplifies property management operations, helping commercial property managers reduce operating costs and automate processes. It streamlines tasks such as lease management, maintenance, and financial operations, leading to increased operational efficiency.
Additionally, with its integrated applications and reporting capabilities, PMX empowers property managers to improve strategic planning through real-time data and insights, enabling better-informed decision-making as a result.
When it comes to mixed-use property portfolios, PMX offers useful digital tools that enhance the tenant and resident experience. Online options for maintenance requests and rent payment demonstrably contributes to higher tenant satisfaction and retention.
Finally, it’s worth pointing out that PMX’s robust reporting and analytics features enable property managers to identify inefficiencies and opportunities. This is where much of the gains can be found, as the data-driven approach enabled by PMX allows for proactive decision-making, which ultimately helps property managers optimise occupancy, revenue, and profitability, among other things.
Re-Leased is a versatile commercial property management software that empowers property managers to streamline their operations, enhance tenant satisfaction, reduce financial risks, and make data-driven decisions. The wider Re-Leased platform has been designed to cater to the needs of many roles in real estate, including property managers, property owners, asset managers, and corporate occupiers, making it a valuable tool in the commercial real estate industry. Among its many features, the following stand out for commercial property managers:
- Tenant & Lease Administration: Re-Leased simplifies tenant and lease management with features like automated reminders for lease events, invoice generation, and processing. It provides a 360-degree view of properties, leases, and tenants, reducing the risk of missed rent reviews and renewals.
- Property & Maintenance: The software includes tools to manage property maintenance efficiently, allowing property managers to schedule and track maintenance tasks, reducing downtime, and ensuring properties are well-maintained.
- Arrears & Credit Control: Re-Leased helps property managers stay on top of rent collection by automating arrears tracking and credit control processes. This ensures timely rent payments and reduces financial risks.
- Portfolio Analytics & Reporting: Re-Leased offers robust reporting and analytics tools, providing property managers with insights into portfolio performance, financial data, and operational efficiency. Customisable reports also help lighten the load for commercial property managers who have previously issued manual reports.
Benefits of Re-Leased
Re-Leased automates various property management tasks, reducing manual work and allowing property managers to focus on strategic activities, ultimately increasing efficiency. In addition to this, the software’s arrears tracking and credit control features help property managers stay on top of rent payments, reducing the risk of financial losses.
Because the platform provides a comprehensive view of tenant and lease information, it can help ensure that lease events, renewals, and reviews are managed efficiently. When paired with its robust reporting and analytics tools, property managers can glean valuable insights into portfolio performance, helping them optimise their portfolios for faster, more accurate decision making.
DoorLoop is a commercial property management software designed to streamline and simplify the management of various types of commercial properties, including office buildings, retail spaces, multifamily housing, medical centers, warehouses, and more. Some of the key features of DoorLoop include:
- Maintenance Management: DoorLoop allows property managers to receive maintenance requests from tenants and owners, create work orders, assign them to vendors, and track the progress of maintenance tasks.
- Communication: The software has some pretty useful communication options, like sending messages, files, and announcements to tenants, owners, vendors, or other employees.
- Tenant Portals: Send property-wide or individual announcements to tenants, share updates, reports, and documents securely through tenant portals.
- Automated Payments: DoorLoop helps to simplify rent management by enabling property managers to set up rent prices, manage recurring fees, and automate rent payments through the tenant portal.
Benefits of DoorLoop
DoorLoop automates and streamlines property management tasks, reducing manual work and saving time for property managers. The platform also gives property managers the ability to maintain transparency with owners, tenants, and vendors through secure communication portals, ensuring clear and efficient communication. At the same time, it can greatly help property managers oversee maintenance requests, process vendor payments, and ensure that properties are well-maintained.
RealPage is another top-tier commercial property management software designed specifically for commercial real estate professionals. Overall, RealPage aims to simplify and streamline commercial property management throughout the property lifecycle, with features such as:
- Fully Integrated Platform: The software offers a fully integrated platform that connects middle and back-office operations. This ability to integrate with other platforms enhances transparency and efficiency in various activities related to commercial property portfolios and assets.
- Operational and Financial Reporting: RealPage Commercial provides operational, financial, and reporting functionalities that help its users manage daily tasks, financial transactions, and lease complexities.
Benefits of RealPage
RealPage’s commercial property management software helps to streamline operations, ensuring efficiency in the daily tasks of property managers working across different sized portfolios. One of the biggest boons, and perhaps something that helps them stand out in the market, is that it enhances financial accuracy through its financial management tools and bank reconciliation features. Additionally, its customised reporting capabilities assist with the tracking and analysis of property portfolio performance.
AppFolio caters to a diverse range of property types, including commercial properties and it has primarily been designed to help property managers grow and diversify their portfolios while providing a unified platform for easier property management. AppFolio’s property management software comes with a range of features, including:
- Built-in Automation: AppFolio helps to automate repetitive tasks, allowing property management teams to focus on higher-value or person-to-person work.
- Market-Specific Features: As we’ve mentioned, AppFolio supports a range of property types, with features like Common Area Maintenance (CAM) tracking and reconciliation, commercial-oriented reporting, online rent payments, vacancy marketing tools, and more.
- Exceptional Customer Service: Property managers can meet tenant expectations with the in-built communication tools, online owner, vendor, and tenant portals, document sharing, and texting to owners and tenants.
Benefits of AppFolio
AppFolio facilitates portfolio diversification and provides a centralised system of record for the efficient management of commercial properties. It enables customised service delivery, giving property managers the power to differentiate. In a saturated market, being able to offer exceptional experiences can make a huge difference.
6. Property Inspect
The integration of property management technologies has streamlined communications, aided compliance, and automated various property maintenance tasks, resulting in significant time savings for property managers. However, while one single solution can help lighten the load of a property manager’s day-to-day tasks, a suite of integrated solutions has the power to revolutionise an entire business.
From managing maintenance requests to rental payments, and financial reporting to in-depth inspections, a harmonious suite of solutions that covers all aspects of commercial property management is the driving force behind so much success.
While there are a number of powerful commercial property management tools on the market, some of which we have discussed above, it is only through integrated solutions that this possibility is realised.
The reason is that modern property managers need to become increasingly proactive in ensuring compliance with the latest legislation and regulations, while at the same time monitoring building safety, security, and performance.
It’s a lot to juggle, so the integration of various property management technologies, including IoT, has further improved efficiency and reliability in the industry, and some of the world’s leading property management companies are leveraging platforms like MRI in conjunction with powerful tools like Property Inspect, for an end-to-end property management solution that covers every base.
With Property Inspect, property managers are able to augment their property management platforms with a range of time-saving features, without the need to switch platforms or devices. With our integration, you can:
- Schedule, track, and manage site visits through the live dashboard
- Create and share actionable checklists for all your property management needs
- Complete reports on-site without a WiFi connection
- Capture property conditions directly from your mobile or tablet
- Save time through the use of pre-build templates, like fire risk assessments and more
- Conduct streamlined on-site inspections with smart features such as speech-to-text and transcription
- Rapidly sync property reports for management/tenant review to other property management solutions
Property Inspect supports a range of integrations with multiple third-party platforms and solutions, and the end result is that users don’t need to jump from tool to tool in order to get their work done.
Inspections, one of the most crucial aspects of property management, can be integrated into any number of property management platforms with ease, so you can deliver on three of the most critical areas of commercial real estate – building safety, compliance, and transparency.
If you’d like to find out more about how Property Inspect levels up your property management workflows, book a demo today.