For 2022, here are the Top 10 Commercial Property Management Software. Property management has undergone a transformation thanks to commercial property management software. Commercial property management involves wearing several hats.
You get access to an all-in-one platform with excellent commercial property management software. You can streamline and optimise each of these areas thanks to technology. This guide’s goal is to show you some of the top accounting tools for commercial property management so you can take use of them.
Let’s start by discussing what you may anticipate from this software if this is your first time glancing into property management software for commercial real estate. We’ll go through the advantages and features of this software in this guide.
What is commercial property management software?
Software created to assist landlords and property managers in managing their properties is referred to as commercial property management software.
It specifically refers to the processes, from accounting to marketing, that property managers employ to manage those properties. Commercial property management software for small enterprises is normally created as an all-in-one system to assist you in managing every step of your procedure, just like general property management software.
However, in other circumstances, it might be created especially for commercial property or provide features beneficial to commercial property management. A shared area management system and several leasing calculators are a couple of these characteristics.
What characteristics should commercial property management software have then?
Features consist of:
- Tenant portal: Allow online rent payments and consolidate all tenant communications onto a single dashboard.
- Marketing resources: List homes and apartments, download sample leases, and interview prospective tenants.
- Upkeep: make, modify, and follow work orders.
Even communicate directly from the software about those repair requests with vendors and tenants.
- Accounting: Receive payments through a range of channels, handle several accounts for everything from deposits to lease payments, and provide personalised reports.
- Owner login page
Have a single location where you can send out checks and deliver reports.
Additionally, innumerable additional sub-features, such as scheduling, reminders, website setup, and others, can be found inside each of these broad categories.
Overall, a great commercial property management solution can provide a number of unique advantages.
Including:
- Boost cash flow and tenant quality:
Automated late fees and thorough tenant screening aid in raising both the calibre of tenants and income flow.
- Reduce time-consuming maintenance tasks:
You cannot switch between different mediums when interacting with renters and vendors about maintenance issues, from tenant to CAM maintenance.
- Eliminate hassles and problems brought on by accounting workarounds:
There’s no need to create separate customers for every property and tenant. Each aspect of property management software is created with you in mind. Having stated that, you might have a question. The entire purpose of property management software is to simplify the lives of landlords and property managers.
Can QuickBooks be used as accounting software for commercial property management?
- Automate some of your marketing processes.
Automating crucial tasks including the collecting of rent payments and other expenses, as well as performing tenant screening, offering an owner portal, etc. Perhaps the most complete accounting software on the market is QuickBooks.
It has the ability to manage customer databases and perform reporting, payroll, chart of accounts, and check printing.
- Additional
As a result, if you only own or manage a few properties and are ready to start anything, it provides a terrific place to start. In reality, if all you’re searching for is an accounting software for commercial property management, it might be a match. Even when you’re using QuickBooks for your bookkeeping, you’ll soon find issues. This is due to the special requirements that property management requires.
For example, it would be excellent to segregate deposits from rent payments and other fee payments; QuickBooks makes it tough to manage several bank accounts; tenants and properties need their own classification; QuickBooks only has customers.
- You also need two distinct accounts: one for managing your business (payroll, office rent, utilities), and the other for managing your property management chores (collecting rent, paying suppliers to conduct maintenance). You can accomplish this with QuickBooks, but it’s inconvenient (and requires a Premium plan)
Another problem is having all of your systems disconnected from one another, including your accounting, work orders, communications, marketing, and so on. That is useless and inefficient, and the more your portfolio gets, the more difficulties it practically ensures.
10 Best Commercial Property Management Software for 2022
In this article, you can know about commercial property management software here are the details below;
Dedicated, all-inclusive commercial property management software addresses more than only the issue of setting up several accounting workarounds.
By consolidating everything in one location, it also aids in streamlining your overall business. For this reason, we’ve compiled a list of the top 10 commercial property management programmes for 2022.
Ten excellent property management tools are listed below, along with a brief overview of each:
- Strengths they possess
- Special qualities
1. DoorLoop
With DoorLoop, you have access to a full software of property management tools that make expanding and managing your portfolio a breeze. The dashboard is made to be very user-friendly and straightforward (and easy to get started). Also check disk imaging software
It includes a comprehensive set of features that make it simple to centralise and organise every aspect of your property management company. This is another commercial property management software.
A full chart of accounts, configurable reports, and an accounting suite meant to replace QuickBooks are just a few of the features.
- An integrated customer relationship management (CRM) system and tenant portal that let you collect rent, get maintenance requests directly from tenants (and even converse with them through the platform), provide renters insurance, and more
- Simple management of maintenance orders, from work order preparation through tracking and vendor payments
- Marketing tools including tenant vetting, automatic listing, and showing scheduling
- Owner portal with access to reports and check printing capabilities
2. RealPage commercial
A comprehensive property management programme focused for commercial portfolios is RealPage Commercial.
It boasts a comprehensive feature set that includes every tool you could possibly need to manage your business portfolio. This is another commercial property management software.
They are renowned for their convenient lease management function and user-friendly approach for reconciling communal area maintenance.
Features include:
- A tenant portal where tenants can view balances, make payments online, and more.
- Leasing automation capabilities
- Work order management
- Strong accounting functions, such as calculators for late fees, recurring charges, rent percentages, and CPI rises
3. Total Management
Property managers of both residential & commercial properties can use Total Management, a cloud-based property management service.
They provide a broad range of commercial functions, such as management of communications and reconciliation of taxes and insurance.
They are regarded for being simple to use, so getting started is quick and easy.
Users also frequently mention how simple they are to use, despite the fact that they cost more than alternative solutions.
Features include:
- Employee work order communication
- Duplicate invoice catcher
- CAM/Tax reconciliation system
- Tenant portal with online bill payment
4. MRI Commercial Management
This is another commercial property management software. One of the most well-known commercial-specific solutions is MRI Commercial, which offers a wide range of features and leasing tools with a high degree of customizability.
But you have to pay for that extensive feature set, and the MRI interface is seen as being a little shabby.
Online bill payment, lease templates, and powerful reporting capabilities are among the features.
- Work order management;
- Automated accounts payable
5. AppFolio
A noteworthy alternative to MRI is called Appfolio. It has a robust range of functions and essentially everything you could ask for in an accounting software for commercial property management.
Although accessing the variety of functions can feel a little sophisticated and intimidating, its design is also simple to use. However, it slightly counterbalances this with top-notch training materials.
Utility management, work order management, good reporting tools, online rent payments, intelligent bill entry, and automated late fines are among the features.
6. VTS
VTS offers services to more than 35,000 users globally and specialises in commercial portfolio management. They provide special business intelligence analytics tools that facilitate closing and support occupancy. It excels at being a tool for both commercial property marketing and property management. This is another commercial property management software. Also check MSP software
However, it may fall short when compared to some of the more distinctive property management features offered by competing systems.
Features include: Tenant and inventory management; tenant and sales-level analytics; user-friendly collaboration tools; mobile app; numerous integrations; and tenant and sales-level analytics.
7. CRESSblue
A cloud-based commercial property management system called CRESSblue is designed specifically for net lease properties like retail shopping malls. They are renowned for having a good selection of automation technologies, such as automatic lease calculations and scheduling with complete feature integration.
However, if you have a large portfolio, the initial setup may be a little difficult.
Work order management, budgeting for leases, CAM reconciliation, reporting, asset management, and automated leasing calculations are among the features.
8. Yardi
This is another commercial property management software. Yardi Breeze is the company’s more compact property management option. For those just getting started, Yardi is simple to use and delivers a lot of the fantastic features that Yardi’s more complete property management solution does. It is very simple to get started thanks to the training materials’ direct access to the software.
Because of this, Yardi is among the best choices if you are new to property management and simply manage a few properties.
Yardi Breeze is one of the more expensive alternatives available, making it a less cost-effective choice for beginning property managers.
Among the features are: scheduling and leasing calculation automation; robust bookkeeping; owner reports; tenant communications; and work order management.
9. SKYLINE
For small to mid-sized portfolios, SKYLINE is an accounting system for property management. A comprehensive collection of features and functionalities, including accounting, tenant management, scheduling, maintenance management, and more, are provided by the software. It is renowned for having an intuitive user interface that is simple to use and pick up. Also check hvac business software
However, when all of its characteristics are taken into account, the price is at the enterprise level.
Good accounting features, tracking of leases, budgeting, automated scheduling and invoicing, tenant portals, and document management are among the highlights.
10. Re-Leased
Re-Leased is a specialised programme for managing commercial real estate that is renowned for its user-friendliness and robust documentation features.
Although their customer care response rate occasionally raises concerns, it has an aesthetically beautiful UI and makes it simple to discover anything you need. This is another commercial property management software.
Tenant communication, compliance management, good accounting features, integration with Xero, payment and task alerts, a calendar with scheduling tools, and other features are included.
Which accounting software is ideal for property management?
The solution that accomplishes your goals and then some is the best accounting software for property management.
What device can make your life simpler while resolving your issues?
What tool can you use to simplify your operations while enhancing productivity and cash flow?
What tool, then, feels more like an asset than a liability?
Discovering the right fit may be challenging, as we well know. We as property managers were unable to come up with the answer we desired for ourselves. So we constructed it.
That’s DoorLoop—a full-service property management programme that comes with everything from an accounting suite to tenant and owner portals, practical in-app messaging options, work order management, marketing and screening capabilities, and much more.
The accounting software that works best for you and your property management company is the one you use. And DoorLoop, in our opinion, is the solution. In actuality, the first two months are discounted by 50%.
(Yes, the software’s whole feature set is discounted by 50% for the first two months.) Examine DoorLoop’s feature-rich and user-friendly property management solution for yourself.
We sincerely hope that this guidance will be helpful to you, regardless of the technology that ultimately enables you to optimise your operations and rapidly expand your portfolio
