Real Estate Journal — Owners, Developers & Managers — November 22 - December 12, 2019 — 3B
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M id A tlantic
O wners , D evelopers & M anagers
usinesses throughout the U.S. have become increasingly depen- Immediacy and responsiveness key to customer service in today’s CRE world Mobility is changing the way property managers do business B
property managers are now more prepared to meet and exceed customer demands with the wealth of analytics stored on their computers and avail- able through all forms of mobile devices. This entails the in- stantaneous access of informa- tion ranging from stand-alone property, accounting, vacancy and project management infor- mation to reporting, budgeting, valuation and contract manage- ment details from nearly any remote location. Cutting-edge Cloud Services The most cutting-edge prop- erty management/accounting systems offer industry-specific
solutions for multifamily and CRE owners and managers. They seamlessly support multi- cloud integrations with other best-in-class software products, while also serving as a “single point of truth” for capturing and processing real estate en- terprise and financial data. This is achieved through open APIs (application pro- gram interfaces) and a well- assembled commercial real estate tech stack that elimi- nates barriers and enables the effortless interaction and shar- ing of cloud-based applications and services. Robust lease abstracting, utility and tenant
service billing, payment pro- cessing, and tenant screening are just a few of the features designed to make day-to-day management tasks automatic and convenient within the of- fice or from the field. Increased Analytics for Enhanced Productivity What does the mobile revolu- tionmean beyond worksite agil- ity and streamlined processes? Consider this statement: “Ninety percent of the data in the world was generated in the last two years alone,” according to Technative. This incredible pace will only con- tinue to accelerate with the
growth of IoT. The problem is no longer the generation of such detailed, complex infor- mation, but the humanization of details into qualitative and quantitative information that is both easily accessed and managed. Subsequently, the growing use of data analytics ranks as one of the property man- agement industry’s leading trends. Knowledge is nice, but the ability to quickly decipher all the details to make cogent, thoughtful decisions that ben- efit customers and users alike is even better. continued on page 4B
dent on the mobile world. As commer- cial property l a n d l o r d s work to at- tract and re- tain tenants within this context, tech-
Michael Mullin
Owners, Developers &Managers savvy millennials are among the new school of decision-mak- ers when it comes to site selec- tion, and they are looking for the latest high-tech solutions. This includes mobile services that extend from online bill paying and work order manage- ment, to simply text messaging with a property rep with any questions or building issues. As a result, the ability to deliver superior customer ser- vice is now a prerequisite for competing in this space – re- gardless of property type. Ad- ditionally, practitioners must streamline tasks with a more creative, transparent and in- stantaneous approach to com- municating with tenants and property owners, retrieving and analyzing historical data, and sourcing and closing deals. Today’s CRE technologies are not only changing the way property managers do business, but the very activities they perform on a daily basis. The routine collection and input of data has been replaced by a more substantive, analytical function. Rather than spending hours gathering information,
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a section of the MARE Journal Phone: 781-740-2900 Fax: 781-740-2929 www.marej.com
S ection P ublisher Steve Kelley skelley@marejournal.com S ection E ditor Karen Vachon editor@marejournal.com
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