How to Choose the Best Leasing and Asset Management Platform For Your Business
For modern landlords, leasing and asset management platforms are their central operating systems. This software transforms their business by eliminating manual processes, leveraging real-time portfolio and deal analytics, and helping to nurture tenant relationships. Landlords use them to manage all daily activities across both internal teams as well as external parties including brokers, property managers, investors, and operating partners.
If you’re starting to explore a leasing and asset management platform for your commercial real estate business, two common questions may have come up:
- When should I implement a leasing and asset management platform?
- What should I look for while evaluating one of these softwares for my business?
When should I implement a leasing and asset management platform?
If you’ve asked yourself the first question, the answer is now, don’t risk waiting. Many of your competitors are already using this powerful technology, and the longer you put it off, the harder it will be to catch up. Here are some of the most pressing challenges landlords experience that lead them to adopt a leasing and asset management platform:
- They can’t compare their performance to market competitors in terms of average rents, deal cycle times, or if supply meets market demand.
- They have no real-time visibility into portfolio performance, and are not proactively alerted about the status of every deal and tenant relationship.
- When investors and partners ask for portfolio updates, it takes hours (even days) to manually gather information and get information from team members.
- Their deal approvals process is paper-based and manual, and gets significantly delayed when key stakeholders travel.
- Deals take too long to close and way more time is spent chasing updates than making strategic decisions about how to move the best deals forward.
If any of these challenges sound familiar to you, it’s time to purchase a leasing and asset management platform.
What should I look for while evaluating a leasing and asset management platform?
If you’re not sure what a platform like this should include, don’t worry, we’ve got you covered. Our latest eBook, The Buyer’s Guide to Leasing and Asset Management Software, will walk you through everything you need to know about purchasing this technology — from setting goals, comparing vendors, and making your final selection.
We’ve even included a helpful evaluation checklist covering the 11 key things to look for to help you compare products in an objective way.
To get started, download your free copy of the eBook (and checklist) today.
If you’ve already checked all of the boxes, request a demo of the industry’s leading leasing and asset management platform, VTS, now.