From collecting rent and taxes to paying insurance premiums and payroll, property managers oversee the performance of income-producing commercial properties and ensure that real estate investments achieve their expected revenues. In addition, some property managers supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, expiration dates of leases, and other matters.
Challenges:
With so much responsibility, it’s no wonder that property managers face many challenges. Some of the challenges they are faced with are:
- The disconnect between their management systems and general ledger accounting programs
- The ability to manage complex leases in disconnected environments
- The difficulty of creating understandable reports from multiple, disparate sources of data
- Lack of an easily and centrally accessible repository for perspective tenant information
- Maintaining security and SOX compliance
Solutions:
At ARGUS Software™ we have solutions to help property managers run their business more effectively and efficiently, which in turn helps them meet and exceed their revenue targets.
ARGUS Property Management™, ARGUS INSIGHT Reporting™ and ARGUS Lease CRM™ manage retail, office and industrial commercial properties.
Given many of the challenges property management and accounting face, ARGUS Property Management can help ease your pain. ARGUS Property Management enables you to handle advanced job functions which include recoveries, percentage rent and lease management.
The use of an integrated general ledger and accounting functions provides invaluable benefits to property managers, and ARGUS Property Management expertly integrates the two better than any other product currently available. ARGUS Property Management has been SAS70 certified which means that many critical security and compliance requirements have been satisfied.
INSIGHT, a business intelligence application designed specifically for commercial real estate provides property managers more flexibility and real time information while reviewing accounting items and other necessary pieces of information deemed necessary for rapid decision making. ARGUS INSIGHT Reporting is able to gather information from various data points and merge the information into one system for easy review, reporting and analysis.
The complexities and headaches associated with renting space are now alleviated with ARGUS Software’s LEASE product which provides onsite leasing agents with the ability to easily manage the leasing process, space management and related workflows including specialty leases. LEASE also allows third-party consultants to have access to the system used by the property manager which promotes a consistent and clear line of communication.
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