Effectively measuring key metrics in lease management is no simple task, and one that is not easily done through mounds of paperwork and Post-it® notes. Enter Anton Systems and the SKYLINE Property Management Solution. This cost-effective, user-friendly and web-enabled property management software can assist your operations through a variety of key metrics associated with lease management.
While the type of lease metrics that are utilized will vary from one company to the next, metrics are essential to measuring the overall effectiveness of property management activities. Let’s begin by defining what a metric actually is…A metric is a measurement that is able to tell you how well you are doing and further defined by the Webster’s Dictionary as “a unit of measurement.”
Identify. Measure. Analyze.
What is your key metric for evaluating your business? While the answer to that question will likely vary from firm to firm, one thing remains constant- every firm wants to be able to increase sales performance. Lease management can be extremely time intensive and involves a wide variety of activities. Analyzing the proper metrics is essential to ensuring that your company is providing the best proper service and completing the necessary procedures in order to mitigate risk. Below are the top three metrics associated with lease management:
1) Analytic and Reporting Capabilities
Analytic and reporting capabilities are large components of any property management company. There are a wide range of reports that need to be run on a daily, weekly, monthly, quarterly and annual basis encompassing everything from processing financial reports, printing checks, ordering and setting appointments for maintenance related services, and the list goes on. SKYLINE software is able to facilitate easy report running functionality with a few simple clicks.
The language of leases can be complicated and hard to track. Clauses vary from one tenant to the next and the vast majority of property management companies do not have the time nor the luxury of being able to sift through each individual lease agreement to ensure that all clauses are: 1) being met and 2) that they are being tracked. Therefore, lease/clause management is a key metric to the overall picture of property management. Many items need to be tracked such as: options, additional rents, late penalties and collections, etc. These clauses are referenced often but almost make for a full-time job to keep track of. Anton Systems offers a unique end-to-end property management solution that is able to track and search for important clauses thus allowing you to verify that all parties are in compliance with the lease agreement.
3) Customer Service
Tenants, prospective tenants, property owners, internal office staff, maintenance personnel and other affiliated service providers all appreciate a higher level of service that you are able to provide through the ability to track, supervise and report on all property-related events and actions. By easily tracking day-to-day activities the level of customer service can be improved upon and better records are able to be kept ensuring an automated process that is able to keep everything easily organized and tracked as well as providing for risk mitigation through the comprehensive record keeping features.
SKYLINE Lease Management
Lease management is a critical metric that property managers, brokers and owners must measure. For property managers nearly all of your daily business activities encompass various metrics, by properly tracking key metrics associated with property management you will be able to provide a higher level of customer service and improve your bottom line. The SKYLINE property management software is your one stop solution for accounting and management for all property types allowing for an automated process that is convenient and easy to use.