Product Overview of RealPage Commercial Property Management
RealPage Commercial Property Management is a comprehensive, cloud-based solution designed to streamline and simplify the operations of commercial and industrial property management companies. This robust platform is tailored to meet the diverse needs of property managers, owners, developers, and real estate investors, offering a wide range of features and functionalities to enhance efficiency, scalability, and profitability.
Key Features and Functionality
Lease Administration
RealPage Commercial Property Management includes advanced lease administration tools that streamline daily commercial leasing activities. Key features include:
- Lease boilerplates for efficient addition of new leases with proper data governance.
- Amendment tracking to accurately manage lease lifecycles.
- On-demand views of lease history and custom fields for customer-specific lease data.
Common Area Maintenance (CAM) Recoveries
The system handles complex CAM recovery calculations, including base years, gross-ups, minimums, caps, expense exclusions, and more. It ensures accurate and error-reduced recovery billbacks and displays all missed billings upon calculation execution.
Commercial Lease Accounting
RealPage manages various billing types for office, industrial, and retail properties, including:
- CPI increases
- Percentage rent
- Recovery billing
- Late fees
- Recurring charges
- Straight-line rents
This ensures accurate and timely billing for tenants across different property types.
Tenant Portal
The Tenant Portal provides a secure and user-friendly interface for tenants to:
- Log in securely
- Enter service requests
- View open balances and review statements
- Make online payments
This portal enhances tenant satisfaction and reduces administrative burdens.
Financial Suite
The Financial Suite offers a 360-degree back-office accounting solution, featuring:
- Corporate Accounting: Integrated with property accounting, eliminating the need to switch between systems.
- Property Accounting: Streamlines everyday workflows, providing full visibility into site-level data.
- Financial Close Management: Automates month-end and year-end closing processes.
- Spend Management: Manages procure-to-pay processes, including purchase orders, receipt of goods, invoice matching, and payment.
- Job Cost: Tracks building and renovation costs, ensuring complete visibility into capital expenditures.
- Budgeting: Time-saving features for budgeting, forecasting, and reporting.
- Financial Reporting: Customizable, shareable financial reports with configurable dashboards and searchable data grids.
Reporting and Portfolio Management
RealPage Commercial Reporting enables the creation of customer-facing financial reports in minutes, which can be electronically distributed on a scheduled basis. Key features include:
- Configurable and role-based dashboards
- Customizable financial report writer
- Integrated Excel reporting
- Access to leases, tenants, properties, vendors, and invoices through searchable data grids
- RealPage Portfolio Management provides on-demand key performance indicators (KPIs) such as NCREIF returns, LTV, NOI, Market Value, and Revenue per Square Feet via interactive dashboards.
Additional Features
- Document Management: Electronic storage of records and compliance documents.
- Facilities Maintenance: Tools to manage and track maintenance activities.
- Purchasing: Integrated purchasing processes.
- Configurable Dashboards: Role-based dashboards that can be customized to display specific operational or financial information.
- Excel Integration: Real-time integration with Excel for data access, reusable functions, and report creation.
Benefits
RealPage Commercial Property Management transforms property management operations by:
- Enhancing productivity and profitability
- Reducing costs and errors
- Improving accuracy and visibility
- Providing customizable features to suit specific business needs
- Offering a holistic view of property performance through advanced reporting and portfolio management tools.
This comprehensive solution is designed to support small to large-sized commercial and industrial property management companies, making it an indispensable tool for modern property management.