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Commercial Property Managers, endangered species, or on the precipice of opportunity?

Think back to when Commercial Property Management involved being tied to the desk, completing monotonous, low value-adding, administrative tasks.  The casualty being time to cultivate your relationship with your Owners and Tenants.

For some Property Managers, this may not be past tense.

Catapult forward to arguably the most exciting time to be in Property Management.  The next five years can potentially look very different.  The plethora of technology platforms on the market can be overwhelming, to say the least, however, the opportunity they represent is undeniable!

It is no secret, the Australian Commercial Property Management Industry has been slow to adopt Proptech, however, there is a disconnect with Owners and Tenants expectations on the rise.  Management fees remain static increasing the need to leverage technology to create value.

Getting the basics right.

With new Proptech start-ups entering the market each year it is hard to know where to begin and which technology will provide the biggest bang for its buck.

A cornerstone, cloud-based Property Management platform should be your starting point.  As a Commercial Property Manager, if your current platform is residential based, or server-based, you need to act now.

A cloud-based, commercial specific, property management and accounting software represents a huge leap away from the Property Manager endangered list and ensures your value add in the Owner and Tenant relationship formula.

Benefits of a cloud-based property management platform.

Examples of where you will revel in the improved workflow efficiencies include:

  • Paperless and seamless transmission of property information throughout the agency.
  • Automated invoicing removing the need to stamp and code invoices.
  • Complete flexibility over who you pay and when.
  • Owner’s portal allowing Owners to self-serve and access their documents stored in the cloud from any location with an internet connection.
  • Facilities management detailing the entire quoting and work request process from start to finish.
  • Reconciliations functionality that gives you your weekends back.
  • Reporting tailored to each owner.

Bolt on other software products where appropriate

Once your cornerstone Property Management software is in place, look for best in class, time saving, products on the market to integrate with.  Property Inspection apps, valuation tools, energy meter readers, the list goes on and on.

Cirrus8 has many integrations in place, with its open architecture, integrations are welcomed.

Make the move to manage your Landlord’s assets to the highest standards, freeing up time to provide proactive, personalised service.

Author

Kirsty O’Neill

Kirsty O’Neill is a Client Success Manager at Cirrus8. She has over 5 years of Property Experience including in Strata Management and Trust Accounting.  She works closely with Property Managers and Trust Accountants as part of her role and understands the benefits of a software platform that saves Property Managers’ time.

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