Property owners, whether they are investing in commercial real estate as well as multifamily rentals or single family homes, require an organized and consistent financial management. They also have to keep a close eye on the appearance of their property and curb appeal in order to provide the best renter experience. To maximize the return on investment, they should be on top of tax compliance, budgeting and other financial reporting.

That’s where real estate management comes in. It’s the collection of processes, actions and systems utilized to maintain and care for physical property assets. It’s the role of the people who manage those physical assets, too. It’s a complex job that requires both a keen eye for numbers and an affection for the tenants who depend on them.

Real estate managers are accountable for a range of duties like screening potential tenants as well as maintaining the property and even making lease agreements. All of these are crucial to establishing happy and healthy rental communities that keep renters coming back. And they’re essential for ensuring that property owners turn their properties into profitable investments that will increase in value over time.

Facilities managers are currently facing new challenges, mostly due to the rise of digitalization and smart buildings. Also, occupants’ expectations are increasing. These challenges include full visibility into their portfolio and project management, as well as streamlined maintenance and operations, and lease accounting. Accruent Lucernex provides real estate management software that can address these issues and increase productivity.