As many property managers know all too well, industrial facilities can be a bit more stressful than others, especially when considering how fast-paced and turbulent these sectors can be. Yes, multi-home residential housing environments need just as much attention as any other type of property, as failure to keep everything tight and clean will generally lead to poor client retention, unsatisfied tenants and ultimately a lack of financial performance improvements.
In the industrial property management arena, though, the stakes are higher, as the connection between the actual facility and clients’ performance is tighter and more complex. Compliance, oversight, optimization and general facilities management are critical for each party involved, and this is why software can have a more positive impact on the mutual benefits shared by property owner and tenant.
Initial considerations
One might ask what it takes to run a successful gig as an industrial property manager, and the answer, put quite simply, has a wealth of moving parts that must be understood to get the job done right.
In the modern industrial sector, the name of the game is support and optimization for tenants.
The economy is improving, leading to a new pool of potential clients and tenants in the industrial sector. This can lead to problems in practice, especially when the property manager’s accounting and reporting are not in order. CCIM Institute explained that newcomers to the industrial sector and other private industries will sometimes struggle to gain their footing, and that property managers will often need to guide them through some of the more significant complexities.
“Especially on small properties, tenants are unsophisticated and need to be educated about HVAC systems, electrical usage, lease terms and conditions, and more,” the source quoted from a commercial property manager. “Sometimes they modify the space, run wiring, install equipment without the owner’s knowledge (and are not compliant to the lease terms or local codes). If they get caught, they usually want the ownership to pick up these costs as it ‘should have been included’ in the rental cost of the space.”
According to the organization, property managers will often experience significant improvements when working with the right types of software and solutions, especially when it comes to expense tracking and other core functions.
“Using real estate management software gives us the benefit of being able to evaluate the maintenance costs of a specific property and compare that to its income,” an industrial property manager told CCIM. “Every day there is an emergency for someone. We have a perspective on [the problem’s] severity and a willingness to step up and make the repairs. The worst thing to do is to put off building maintenance.”
At the end of the day, even more experienced industrial companies will need plenty of support or, at the very least, a tightly run property to succeed and be able to pay the bills on time. This is where advanced industrial property management software comes into play.
The SKYLINE advantage
SKYLINE software, offered by Anton Systems, can make a big difference in the lives of industrial property managers. Here are a few of the more important and advantageous benefits of using these tools:
- Escalations and recoveries: Property managers will enjoy an advanced and modern experience with commercial escalations and recoveries.
- Tracking and analysis: With a variety of web-based reporting and automated tracking tools included, industrial property monitoring and relevant analysis will be optimized.
- Automated financial management: SKYLINE also comes with tools that will automate accounts receivable and payable procedures, check printing and more.
By leveraging this software along with support from Anton Systems, industrial property management will be more effective than ever before.