Blog tagged as real estate

The Common Area Maintenance or CAM reconciliation process can be a very hectic task, especially when it comes to commercial real estate businesses. With multiple properties to handle, it can be overwhelming. But CAM reconciliation is crucial nonetheless and property managers can not afford to avoid ...

The real estate business is tricky and volatile, to say the least, if you add bad accounting particles to this mix, then it gets even more complicated. It can end up costing you millions and also cost you your reputation as an authentic real estate business. 

Accounting and back office are...

ERP is a proven tool to manage your business proficiently. 95% of businesses that implement an ERP experiences improvements in business processes. In addition, 82% of companies that use an ERP generated expected ROIs within desired timelines. 

As a result, an ERP is a great investment for any bu...

Common Area Maintenance (CAM) reconciliation seems pretty simple at the outset. You just add up your costs and pitch them against your budget to close your books. 

However, the reality is far from this ideal picture. Most real estate agencies are left scratching their heads trying to figure out ...

Most real estate agencies rely on their back offices for day-to-day accounting. The list of tasks covers a wide range of verticals, from vendor payments to employee reimbursements. 

As a result, the back office requires considerable resources and hours to do its job efficiently. 

However, mo...

COVID-19 came as a shock to most businesses. Entire industries suffered a lack of demand, while supply chains became more fragile than ever. 

Worst of all, many companies had to down their shutters faced by dwindling sales. 

However, one thing emerged as a positive factor to make many busine...

More companies are looking to outsource most of their business functions. According to Fortunly, about 54% of companies use third-party services to interact with their customers. While cost-cutting is a common outsourcing goal, companies have their own reasons for outsourcing. Some want special...

Real estate firms incur expenses just like any other business. According to the National Association of Realtors, real estate agencies have a median business expense of $6,290. 

As a result, it makes sense to manage your expenses to derive more value. It will help you gain control over your busi...

Property management is a demanding job. Unlike a 9 to 5 job, managing properties requires you to work at your client’s convenience. On top of that, property managers also need to handle marketing, legal work, maintenance, and other tasks. Looks challenging? You can overcome most of your business obs...

Running a business is not a simple task. Entrepreneurs have to handle countless workflows and processes every single day. On top of that, they also have to manage the company's IT operations and digital needs. 

At times, things go beyond the capability of entrepreneurs to man...

Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expense management software to streamline workflow and improve productivity. 

Are you wondering if you should make a move too? Do you need more informat...

Property management is a demanding job. Unlike a 9 to 5 job, managing properties requires you to work at your client’s convenience. On top of that, property managers also need to handle marketing, legal work, maintenance, and other tasks. Looks challenging? You can overcome most of your business obs...

Modern-day property management software has made real estate processes easier. With several options, real estate companies struggle to make the right technology choices. Proper planning of business goals can help you define your technological needs. If you want to automate several processes, then on...