Real estate projects are not everybody’s cup of tea and are potentially risky on the financial front. If real estate projects are to stay within the determined budget, it is important that they avoid costly delays and meet important deadlines. This is why you need stellar software to communicate, budget, schedule, plan, assign and monitor individual tasks in the real estate business.
Some platforms such as Trello and Basecamp are useful as generic project management tools, but it is always prudent to use industry-specific software as a real estate project manager. Cost and risk management are crucial factors in the real estate sector and need to be considered diligently. Real estate business also entails working on large-scale projects and dealing with a multitude of clients. To help you deal with all the facades of real estate project management, here are a few software tools to get started with.
Proofhub tool tackles the arena of project management in a way that also suits the real estate industry, While not specifically catering to the real estate sector. They know for a fact that real estate revolves around projects and people, which is why they tell us how the software can be organized for such:
- A separate project is created for each client, and team members chosen to work on the project are allocated tasks and subtasks offering detailed briefings attached to these tasks. Each task is assigned a level of urgency and comes with a deadline to make those responsible accountable.
- The tool encourages real-time discussions with the online chat option, which can be used to debrief the team or to draft a plan of execution before agreeing on a project. Before a project moves forward, this option helps all the parties involved run a detailed brainstorming session.
- Kanban views help you visualize the workflow, making the entire process of the real estate project clear to all team members.
- The tool is a repository of all the comments, files, and notes related to the project, supplemented with an online proofing tool that helps in the finalization of plans.
- Real Estate projects are inherently schedule dependent and time-limited, which is why Proofhub’s Gantt charts make this tool a suitable platform for real estate managers.
- There is an option to set decencies, so team members can keep track of how their tasks and responsibilities influence other activities in the workflow. Real estate managers can generate reports which can assess the progress of the project.
As a cloud-based property management software, Re-leased facilitates the management of lease events, actions, and key dates. Automated workflows and notifications allow real estate managers who are pressed for time, to keep pace with a time-sensitive workload. The analytic dashboard is another great feature that helps boost efficiencies and analyze revenue growth opportunities with a simple API which allows you to upload data from wherever it is stored. With the flexibility afforded by the cloud, the app lets you access data and tap into your projects even when you are away from the office. For a job that requires being on-the-go, mobility is in high demand.
Pendo is a great software tool for real estate managers, no matter if they are managing one property or as many as 100. Its features are highly favorable to the real estate industry, with the option to select online forms for the listing of properties or leverage existing templates, for instance. Other features that can work wonders for the real estate industry are:
- Tracking important data such as overdue rents, vacancies, rent increases, expiring leases, expenses, income, and people. The platform links to your bank account directly and extracts all pertinent information from there.
- All client files are backed up to the cloud and stored in one place to protect valuable data.
- The app moves with you, and so does your data
- A simple dashboard lets you view all rentals in your portfolio
4. Landlord Tracks Management Software
This amazing tool helps you track your rentals all in one place, something all property managers wish for. Designed and built by real estate managers, this tool incorporates features that perfectly cater to the needs of property managers. This cloud-based platform can be accessed via the app downloaded on your device. Here’s why this tool is a winner:
- The inbuilt availability calendar keeps you abreast of all your commitments, while the details of all the tenants you are dealing with are stored in one accessible place.
- The platform allows for easy online payments, which translates into the fact that payments can be taken when out in the field. All real estate managers can comprehend the significance of this feature.
- The tool also packs a plethora of automated features, such as intuitive auto-pay features, late fees, and automated invoicing.
- The app incorporates an excellent tenant portal, where tenants can see statements and make payments. This is much more than your run-of-the-mill project management software since it offers a lot more than standard collaboration features.
5. Qube Project Manager
As a module of complex integrated software, this tool can help you tackle all project-based activities related to the international and domestic real estate portfolios. It lets you enhance efficiency through collaboration, manage workflow and team communication, and set up automated budgets and schedules. With the ability to manage projects in real-time, managers can improve reporting, reduce risk, track documents, and control project costs. With its integration with Microsoft Office, data can be exported and imported in a standard format.
The expert real estate brokers of The Toronto Condo Team are dedicated to providing excellent services and bridging the gap between prospective clients and their dream condos for sale in Downtown Toronto. To help keep pace with the dynamic real estate industry, their real estate managers leverage Task management tools to assist clients in ﬁnding Toronto condos, that ﬁt their expectations perfectly and are a value-for-money investment.