Commercial Property Management with Oownee

Understanding the Challenges

Managing commercial properties, whether office buildings, retail spaces, or industrial complexes, presents unique challenges. The complexities of lease agreements, maintenance, tenant satisfaction, and financial management can be overwhelming without the right tools. Traditionally, property managers relied on spreadsheets and manual processes, resulting in inefficiencies, errors, and missed optimization opportunities.

Why You Should Use Oownee and Try It for Free ?

Oownee stands out as a game changer in the field of commercial property management.

Here's why:

Streamlined Lease Management

One of the most critical aspects of commercial property management is lease administration. Oownee simplifies this process by centralizing lease data, automating rent collection, and sending timely reminders for renewals and expirations. This ensures that property managers never miss critical dates, optimizing occupancy rates and revenues.

Comprehensive Financial Tools

Financial management is at the core of Oownee's capabilities. It offers robust accounting features tailored to the needs of commercial real estate, including expense tracking and budgeting with clear accounting distinctions between common and private areas. Property owners gain unparalleled transparency into their financial performance through charts and other tools, enabling data-driven decision-making.

Tenant Satisfaction

Satisfied tenants are more likely to renew leases and recommend properties to others. Oownee includes tools for managing tenant requests, tracking maintenance, incident management, contacting, messaging, reservation, and facilitating communication. This proactive approach to tenant satisfaction helps retain occupants and reduce vacancies.

Maintenance Efficiency

Commercial properties require regular maintenance and repairs. Oownee's maintenance management tools allow property managers to plan, track, and prioritize maintenance tasks effectively. This proactive approach reduces downtime and increases property value through integrated scheduling and task management.

Data-Driven Insights

Oownee not only streamlines operations but also provides property managers with data-driven insights. Customizable reports and dashboards offer a clear overview of property performance, helping owners and managers identify areas for improvement and growth.

Scalability

Whether managing a single commercial property or a portfolio of assets, Oownee adapts to your needs. Its flexibility ensures that property managers have the necessary tools to adjust and expand their operations.

Multi-Tenant Management

Oownee makes it incredibly easy to manage dozens or even hundreds of units. You can create accounts for tenants, allowing them to report incidents, make payments, view their contracts, and access various other modules.

Document Management

You can now digitize all your paper documents and store them securely in Oownee's cloud. This enables secure online storage that provides you and your tenants with access to documents worldwide, 24/7.


Top 3 Best Commercial Property Management Software for Enhanced Real Estate Operations in 2024

Introduction: As we step into 2024, the commercial property management landscape continues to evolve, with technology playing a pivotal role in streamlining operations. The right software can transform the efficiency of your business, providing comprehensive tools to manage finances, tenant relations, and maintenance with ease. Here's a look at the top three software solutions that are leading the charge in enhancing real estate operations.

1. Oownee - The Forefront of Innovation

the dashboard for tenants
oownee tenants portal

Description: Oownee stands as the premier commercial property management software, offering an unparalleled suite of features designed to cater to the modern needs of property managers. Its robust platform is the result of meticulous design and a clear understanding of the industry's demands.

Key Strengths:

  • Comprehensive Feature Set: A one-stop-shop for all property management needs, offering more tools than any competitor.
  • User-Centric Design: Intuitive interface and user experience, tailored for ease of use without sacrificing depth of functionality.
  • Advanced Financial Management: Industry-leading financial tools that provide clarity and control over your property's finances.

Pricing: Custom pricing model. Contact Oownee directly for a personalized quote that matches the scale and complexity of your portfolio.

Overall Rating: 5/5 - Sets the benchmark for what commercial property management software should be.

Personal Opinion: Oownee is the epitome of what the future of property management looks like—smart, efficient, and all-encompassing. It's the ideal choice for those who refuse to compromise on quality and functionality.

Website: Visit Oownee

2. RealPage Commercial - The Lease Maestro

real page screen of web

Description: RealPage Commercial offers a specialized approach to property management, with a strong emphasis on lease administration and operational efficiency for commercial portfolios.

Key Strengths:

  • Lease Optimization: Streamlined lease management that maximizes occupancy and revenue.
  • CAM and Expense Management: Precise tools for managing common area maintenance costs and reconciliations.
  • Robust Accounting Features: A full suite of accounting capabilities tailored for commercial property management.

Pricing: Available upon request. RealPage Commercial provides a quote-based pricing structure to accommodate the unique needs of your business.

Overall Rating: 4.5/5 - A specialized tool that excels in lease and financial management.

Personal Opinion: For property managers focused on optimizing lease operations and financials, RealPage Commercial is a formidable option that delivers precision and reliability.

Website: Visit RealPage Commercial

3. Total Management - The Agile Solution

total management screen of website

Description: Total Management is a versatile and user-friendly cloud-based software that adapts to both residential and commercial property management needs with ease and efficiency.

Key Strengths:

  • Accessibility: Cloud-based infrastructure ensures you can manage your properties from anywhere.
  • Ease of Use: An intuitive platform that simplifies property management tasks.
  • Cost-Effectiveness: Transparent and affordable pricing that makes it accessible for various portfolio sizes.

Pricing: Starting at $4.50 per unit per month, with additional costs for onboarding and support.

Overall Rating: 4/5 - A great choice for those seeking a balance of functionality and affordability.

Personal Opinion: Total Management is the go-to software for property managers who need a flexible and straightforward solution that doesn't break the bank.

Website: Visit Total Management

Conclusion: Commercial property management software is an essential tool for any property manager looking to stay competitive in 2024. The right software depends on your specific needs—Oownee is the top choice for those seeking a comprehensive, feature-rich platform. RealPage Commercial is ideal for managers who need specialized lease and financial management tools, while Total Management is perfect for those who value flexibility and cost-effectiveness. Evaluate your portfolio's size, complexity, and specific needs to choose the software that will best enhance your real estate operations.

 

how much money can i save by using oownee property management?

We invite you to try Oownee for free, available here.

 

Conclusion

In the competitive landscape of commercial property management, efficiency and transparency are paramount. Oownee's commercial property management software highlights these qualities, assisting property managers and owners in fully realizing the potential of their properties. With streamlined lease management, comprehensive financial tools, tenant satisfaction enhancements, maintenance efficiency, data-driven insights, scalability, multi-tenant management, and document management, Oownee is the preferred partner for those aiming to excel in the commercial real estate market. Discover the transformation and elevate your commercial property management with Oownee.

 

 

If you would like a customized solution and quote, please complete this form.


In the context of "commercial property management software," the term "commercial" typically refers to the management of commercial real estate properties. Commercial real estate properties are properties used for commercial or profit-generating purposes, as opposed to residential properties used for housing.

Commercial real estate properties encompass a variety of property types, including:

Commercial Real Estate mixed with Multi-Family Properties, Condos, etc., could include a mixed-use building with commercial spaces on the ground floor and residential units on the upper floors. Next to this building, there might be an industrial facility, such as a factory, and another building with office spaces.

Office Spaces :

Office spaces used by businesses, institutions, government agencies, etc.

Retail Spaces :

Retail spaces used by retailers, shops, restaurants, mall,  etc.

Industrial Buildings :

Properties used for manufacturing, storage, distribution, or other industrial activities.

Multi-Family Buildings :

Apartment buildings, condominiums, or co-ops that are commercially owned and rented to residents.

Commercial Land:

Undeveloped or developed land for future commercial use.

Commercial property management software is designed to assist property owners and managers in efficiently managing these types of properties. It offers features such as lease management, accounting, tenant management, maintenance, expense management, and more, specifically tailored to the needs of commercial real estate properties.

Definition of Commercial Property Accounting Software

ledger

Commercial property accounting software is a specialized software solution designed to streamline the financial management and accounting processes associated with commercial real estate properties. These properties are typically used for business purposes, including office spaces, retail stores, industrial warehouses, hotels, restaurants, and more. This type of software is utilized by property owners, real estate managers, and accounting professionals to efficiently track and manage the financial aspects of these properties.

Key Features of Commercial Property Accounting Software

Commercial property accounting software typically offers a range of features and functionalities tailored to the specific needs of commercial real estate management. Some common features include:

  1. Rent Management : Tracking tenant rent payments, lease renewals, rent escalations, and rent arrears.

  2. Expense Management: Recording and monitoring property-related expenses, such as maintenance costs, repairs, property taxes, insurance, and more.

  3. General Ledger Accounting: Managing financial accounts, creating balance sheets, and generating real-time financial statements for a clear overview of financial health.

  4. Common Area Maintenance (CAM) Charges: Calculating and distributing common area maintenance charges among tenants, especially in shared commercial spaces.

  5. Budgeting: Facilitating the creation and tracking of annual budgets for commercial properties, ensuring accurate financial planning.

  6. Financial Reporting: Generating comprehensive financial reports to aid in decision-making and financial analysis.

  7. Automated Tasks: Automating recurring accounting tasks, like rent invoicing and payment reminders, to improve efficiency and minimize errors.

In summary, commercial property accounting software is an indispensable tool for ensuring efficient and precise financial management of commercial real estate properties. It helps property owners and managers monitor income and expenses, manage leases and tenant relations, and produce financial reports critical for strategic decision-making.

How Oownee Addresses Commercial Property Accounting ?

Oownee is an all-in-one property management solution that encompasses robust accounting features for commercial real estate properties. Here's how Oownee caters to the accounting needs of commercial property management

We invite you to try Oownee for free, available here.


The Evolution of Global Commercial Real Estate:

The Boom of Shopping Centers

commercial real estate shopping center with on the up residential mixed

Commercial real estate has undergone a significant transformation in recent years, with the increasing opening of numerous shopping centers worldwide. This global trend has been fueled by a growing consumer demand for diverse and engaging shopping experiences. In this article, we will explore the evolution of commercial real estate on a global scale, highlighting some key data and the sources that support them.

The Boom of Shopping Centers

One of the most visible aspects of this evolution is the boom of shopping centers. According to the International Council of Shopping Centers (ICSC), the number of shopping centers worldwide has reached approximately 5,000, with a total area of nearly 7 billion square feet. This expansion is primarily due to consumer demand for comprehensive shopping destinations that offer not only stores but also restaurants, entertainment, and services.

Key Data:

  • Number of Shopping Centers: 5,000 (ICSC)
  • Total Shopping Center Area: 7 billion square feet (ICSC)

High Occupancy Rates

Despite the increase in the number of shopping centers, the average occupancy rate remains high, reaching about 93%, according to the National Real Estate Investor. This indicates that retailers and brands' demand for commercial space in these centers remains strong. Shopping centers continue to attract a wide range of tenants, from department stores to specialty boutiques.

Key Data:

  • Average Occupancy Rate: 93% (National Real Estate Investor)

Impact on Rents

The opening of new shopping centers has also had an impact on commercial rents. According to the National Retail Federation, the average rent per square foot in shopping centers is approximately $20. This shows that despite increasing competition, tenants are willing to pay a premium rent to access high-traffic locations.

Key Data:

  • Average Rent per Square Foot: $20 (National Retail Federation)

Operating Challenges

Operating shopping centers involves significant expenses. According to the ICSC, the average annual operating expenses per square foot of shopping center space amount to approximately $4. This includes costs related to maintenance, security, management, and other essential services to ensure the smooth operation of shopping centers.

Key Data:

  • Average Operating Expenses per Square Foot: $4 (ICSC)

Key Players in Commercial Real Estate Management

In this ever-evolving landscape, several large companies dominate the commercial real estate management sector. Among them are major players such as CBRE Group, Inc., Jones Lang LaSalle Incorporated (JLL), Colliers International, Cushman & Wakefield, and many others. These companies provide a comprehensive range of commercial real estate management services, from leasing to asset management.

The future of retail properties

The evolution of global commercial real estate, characterized by the boom of shopping centers, continues to shape the retail landscape. Consumers seek unique shopping experiences, and modern shopping centers have become must-visit destinations to meet these expectations. This trend shows no signs of slowing down, and the commercial real estate industry continues to adapt to meet the growing demand.

Data Metric Value Source
Number of Shopping Centers 5,000 International Council of Shopping Centers (ICSC)
Total Shopping Center Area 7 billion square feet ICSC
Average Occupancy Rate 93% National Real Estate Investor
Average Rent per Square Foot $20 National Retail Federation
Average Operating Expenses per Square Foot $4 ICSC

We invite you to try Oownee for free, available here.

 


Key Insights into Property Management Software:

A Comprehensive Overview

Data Statistics / Facts
Growing Market The property management software market is steadily growing. It was valued at $10.1 billion in 2020 and is expected to reach $22.04 billion by 2028 (Source: Grand View Research).
Predominant Use Property management software is widely used by property managers, rental property owners, property management companies, homeowners' associations, and commercial real estate firms.
Efficiency Gain Users report a significant increase in efficiency in property management through task and process automation.
Financial Integration Many software solutions include accounting features, allowing users to manage their finances directly from the platform.
Multi-Unit Management Property management software is suitable for managing individual properties, multi-unit buildings, residential complexes, commercial properties, and properties of all sizes.
Improved Profitability The use of property management software has shown increased profitability through improved lease management, expense tracking, and maintenance.
Mobile Trend Mobile applications are becoming more common, enabling users to manage their properties on the go.
Data Security Data security is paramount in this sector, with many solutions implementing advanced security measures.
Free Trial Options Many companies offer free trial versions of their software, allowing users to test them before committing.
Customization Customization is often possible, with modular features that allow users to choose tools that best fit their needs.
Pricing Variability Pricing for property management software varies based on the size and complexity of managed properties, as well as the included features.
Customer Support Customer support and training services are often provided to help users make the most of their software.
Industry Adoption As of 2021, 60% of property management companies have adopted some form of property management software (Source: Buildium).
Time Savings Property managers report saving an average of 30-60 minutes per day per unit managed with the use of software (Source: AppFolio).
Tenant Retention Improved tenant communication and service through software has led to a 20% increase in tenant retention rates (Source: Propertyware).
Reduced Maintenance Costs Property management software has helped reduce maintenance costs by up to 15% through proactive scheduling and vendor management (Source: RealPage).
Rent Collection Efficiency Automation of rent collection has improved on-time rent payments by 15% (Source: Yardi).
Increased Property Value Effective property management software has led to an average 10% increase in property values through better maintenance and tenant satisfaction (Source: Propertyware).

 

 

The real estate management software market is on a steady rise, and for good reason! These revolutionary tools have completely transformed how property managers, rental property owners, and real estate management companies handle their assets. If you're involved in the real estate sector, it's crucial to understand why these software solutions have become indispensable and how they can benefit you.

One of the primary reasons for the widespread adoption of these software systems is the efficiency they bring. Through task and process automation, users experience a significant boost in productivity. Imagine centralizing all your data, from lease management to accounting, on one intuitive platform. This means you'll never miss another critical lease renewal date, optimizing your occupancy rates and revenue.

Financial management is at the core of these software solutions. They offer robust accounting features tailored specifically to real estate needs, allowing you to track expenses, set budgets, and gain unparalleled financial transparency. Through charts and other tools, you can make informed decisions based on tangible data.

Tenant satisfaction is another cornerstone of these software solutions. Satisfied tenants are more likely to renew leases and recommend your properties to others. Tenant management tools, maintenance request tracking, incident management, and communication capabilities make it easy to create a positive tenant experience.

Effective maintenance is also crucial for maintaining your property's value. Real estate management software enables you to proactively plan, track, and prioritize maintenance tasks, reducing downtime and increasing property value through efficient scheduling and task management.

Another major advantage of these software solutions is the ability to derive data-driven insights. Customizable reports and dashboards offer a clear overview of your property's performance, helping you identify areas for improvement and growth.

Whether you manage a single property or a portfolio of assets, these software systems adapt to your needs. Their modular features allow users to choose tools that best fit their specific requirements. Plus, many companies offer free trial versions, so you can test them before committing.

In the end, real estate management software has transformed the real estate industry, bringing efficiency, transparency, and profitability to the forefront. If you're ready to take your property management to the next level, consider exploring these powerful tools. And remember, early adoption of these technologies can give you a competitive edge in the ever-evolving real estate market.

 

We invite you to try Oownee for free, available here.


FAQ for Commercial Property Management with Oownee - General Questions

  1. What is commercial property management?

    • Commercial property management involves the operation, control, and oversight of commercial real estate properties used for business purposes, such as office buildings, retail spaces, industrial complexes, and more.
  2. Why is efficient property management essential for commercial properties?

    • Efficient property management is crucial for commercial properties to maximize occupancy rates, ensure tenant satisfaction, control expenses, and optimize financial performance.
  3. What are the typical challenges in commercial property management?

    • Challenges include lease administration, financial management, tenant satisfaction, maintenance, and data management. Oownee addresses many of these challenges.
  4. How does property management software benefit commercial property owners and managers?

    • Property management software, like Oownee, streamlines operations, improves financial transparency, enhances tenant satisfaction, and provides data-driven insights, ultimately leading to increased profitability.
  5. Is Oownee suitable for small businesses or large enterprises?

    • Oownee is suitable for businesses of all sizes. It adapts to your specific needs, whether you manage a single property or a large portfolio.
  6. Can I access Oownee on mobile devices?

    • Yes, Oownee offers mobile applications, allowing you to manage your properties on the go for convenience and efficiency.
  7. How can Oownee help with lease management?

    • Oownee centralizes lease data, automates rent collection, and sends reminders for renewals and expirations, ensuring critical dates are never missed.
  8. What financial tools does Oownee offer for commercial property management?

    • Oownee provides robust accounting features, including expense tracking, budgeting, and transparent accounting for common and private areas.
  9. How can Oownee improve tenant satisfaction?

    • Oownee offers tools for managing tenant requests, tracking maintenance, facilitating communication, and enhancing tenant experiences.
  10. What maintenance management features does Oownee provide?

    • Oownee allows property managers to plan, track, and prioritize maintenance tasks effectively, reducing downtime and increasing property value.
  11. Can I access data-driven insights with Oownee?

    • Yes, Oownee offers customizable reports and dashboards for property performance analysis and data-driven decision-making.
  12. Is data security a priority for Oownee?

    • Yes, Oownee prioritizes data security and implements advanced measures to protect user data and information.
  13. Can I request a customized solution from Oownee?

    • Yes, if you have specific requirements, you can request a customized solution from Oownee by completing a form on their website.
  14. What types of commercial properties can Oownee manage?

    • Oownee can manage various commercial property types, including office spaces, retail spaces, industrial buildings, multi-family buildings, commercial land, and more.
  15. How can property management software benefit property owners and investors?

    • Property management software can help property owners and investors optimize their investments by increasing revenue, reducing costs, and improving property performance.
  16. Is there a free trial available for Oownee?

    • Yes, Oownee offers a free trial for users to test the software before committing to a subscription.

 

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