Streamlining Lease Management: Tools and Best Practices for Commercial Properties

Streamlining Lease Management: Tools and Best Practices for Commercial Properties

As someone in commercial real estate, you know that a lot of energy goes into effective lease management. You can devote all your time to this aspect of property ownership and still not complete all the required tasks!

You could hire a property manager just to babysit the leases on your Atlanta properties. Or, you could invest in tried-and-true ways to streamline your processes and cultivate strong relationships with your tenants.

Keep reading for a few ideas on how to do precisely this!

Create a Tenant Portal

Who wants to field constant phone calls about repairs, rent payments, and lease renewal? Cut down on the time it takes to meet your tenants' needs by setting up an online portal for them to use.

They'll be able to make rent payments online and fill out forms that notify you of requests for service. You can even set up auto-reminders and other automation through most of these platforms! All these features reduce the number of individual phone calls and emails you need to make for specific tenants.

Put Everything on One Platform

Why use separate technology solutions for each job function when you can keep everything in one place? A robust property management platform will help you do all the following and more:

  • Securely store sensitive information
  • Track previous communications with tenants
  • Let you know when it's time for property inspections
  • Record financial transactions and automatically create invoices
  • Provide real-time information on available listings and prospective tenant applications
  • Analyze rental data and generate reports

With a cloud-based solution, you'll be able to access all this information from anywhere.

This is helpful for lease management in particular because this technology allows you to store all the information you need for your tenants' leases in one place. You have tenant contact information, lease agreement terms, and more at your fingertips.

Use a Property Management Service

Even with the best technology available, commercial property owners often find themselves with too little time on their hands and too much to do. While you can hire property managers, this can create work of its own. After all, someone needs to be responsive to these employees' needs, creating more work in the long run.

If you're ready to completely give control of your property management over to someone else, it's time to hire a property management company.

This team of professionals will handle all aspects of your lease management. They'll communicate with your tenants, ensure compliance with local and federal laws, and stay up to date on local and national rental trends. Along the way, they'll give you important details about your properties without weighing you down with the day-to-day details.

Get Lease Management Support

Stop manually managing the leases on your properties in Atlanta, Georgia. Instead, invest in these strategies that can save you time, automate your tasks, and free up space for you to attract tenants or otherwise build your investment portfolio.

At Perimeter Property Management, we believe that working with a property management company is the best way to build positive relationships with your tenants, maintain compliance for all your properties, and make commercial property management easier on yourself.

Reach out to PMI Perimeter today to learn more about lease management and the other services we offer!