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Whether they’re investing in commercial real estate, multifamily rentals, or single family houses, property owners require professional and constant financial management. To ensure that their tenants enjoy the most enjoyable experience, they should also be attentive to their property’s image and curb charm. Also, they must remain on top of budgeting, tax compliance, and other financial reporting to maximize their return on investment.

Real estate management is the collection of actions and processes that are used to maintain and take care of property assets. It’s the job of the people who manage those physical assets as well. It’s a complex job that requires an understanding of numbers and a heart for the tenants who rely on them.

Real estate managers are responsible for numerous responsibilities, including screening tenants, maintaining the property, and the negotiation of lease agreements. All of these are essential to creating happy and healthy rental communities that keep tenants returning. They’re crucial to ensure that property owners can turn their properties into profitable investments that increase in value in time.

Facilities managers are currently facing new challenges, mainly due to the rise of digitalization and smart buildings. Additionally, occupants’ expectations are growing. These challenges include full visibility into their portfolio projects, project management, simplified maintenance and operations, and lease accounting. Accruent Lucernex offers real estate management software that addresses these issues, and improve productivity.