Deep Dive: Property Works Merges Software with Service
As a multi-unit retail operator, it can be challenging to keep up with every aspect of your properties’ data. Hence the importance of a streamlined lease-management software that keeps all of your documents, agreements, and information stored in one place.
But in the vast market for property-management systems, it’s vital that business owners take the time to investigate any software before investing. Questions to ask include:
How flexible are its capabilities?
Can it offer the customization your portfolio may need?
Below, Property Works dives into our proprietary software, where you’ll learn the basics of what our system offers, the extensive customization options available, and how we work closely with your company to build the best solution possible.
What Is Property Works’ Software?
Founded in the mid-1990s, Property Works began by offering full-service lease management to large restaurant corporations. Our software was originally an internal tool built by lease administrators, for lease administrators to deliver real-estate tracking services more efficiently.
Through the years, the now client-facing system has evolved congruently with users’ needs. The intuitive software covers the spectrum of multi-unit tenant necessities, from tracking lease schedules, base rent, CAM, insurance, and taxes to creating reconciliation reports, auditable data trails, financial forecasts, and more.
“We update the system and add capabilities based on the changing industry and client needs,” says Jimmy Rabb, Sales Manager and Marketing Coordinator at Property Works. “Through our software, we try to aid as many departments as we can with system upgrades available to everyone.”
The software is built to specifically benefit the real estate and accounting departments, which—when operating separately using disjointed spreadsheets—can suffer from repeated labor and convoluted data trails. By unifying the two branches, employees can easily stay on top of the company’s data as a whole.
“Part of the magic of our software lies in how it understands the workings of the real estate and accounting sides,” says Trisha Cuda, Vice President of Sales, “so decision-makers in either department can be better equipped to make global decisions.”
What Features Can You Expect?
Beyond the integration of accounting with real estate, Property Works’ lease-management system offers the following features:
- Portfolio-Wide Data Consolidation
The more leases your company has, the more complicated it can be to keep tabs on each asset’s data. Property Works’ software enables you to upload all of your data in one place to view, change, and track with ease.
- Alerting Systems
Never miss a critical date for payments due, renewals, negotiations, and more. Our software allows for the easy input of important dates so you will be automatically alerted beforehand, giving you plenty of time to prepare and avoid costly mistakes.
- Controls & Permissions
Not everyone in your company needs access to certain documents, nor does everyone need to be able to make changes. Easily set permissions and controls to individual documents so that your records maintain their integrity.
- Tracking Capabilities
By utilizing Property Works’ management system, you can track each facet of a property’s data, from CAM to payment schedules, insurance to taxes, even to verbal agreements.
- Improved Reporting
Effortlessly create and configure reports by the custom parameters of your choosing, allowing you to quickly pull accurate reports to maintain ASC 842 compliance.
- Software Training
Property Works’ premier customer service offers full training in the implementation and continued use of the software.
Is the Software Customizable?
Unlike other lease-management systems that only provide the basics of tracking and reporting, Property Works offers solutions that include customization requests when needed.
Recently, Property Works worked with a client who requested a custom tracking system of their competitor. While not a typical build, Property Works’ support staff tackled the task and adjusted the existing software to get the client precisely what they required.
“Bottom line, we are a company that builds as needed,” says Cuda. “Whatever a client requests, we’re going to talk to them about solutions. So if our clients request something today, we work tirelessly to make it happen.”
In another example, a full-service client tasked the Property Works team with a percentage-rent build that could estimate potential future sales. Again, after taking time to discuss the reason behind and aspirations for the request with the client, our support staff reconfigured the software to meet their needs.
“Customization comes in a lot of different ways, but it all comes down to need,” continues Cuda. “If a client needs configuration within the system, we can build it.”
Combine Software with Full-Service Support for Optimal Performance
Property Works proudly puts the human connection between their staff and clients first—a refreshing aspect in an industry that often sees business operators left on their own to handle lease and compliance crises, mountains of data, and overwhelming systems.
This is why Property Works offers a full-service solution proffer on top of the software-only package available to clients. By pairing the software with a team of experts who manage the data on a day-to-day basis, clients are empowered to focus on growing their business while the complexities of tracking and maintaining data integrity are covered by us.
“Having a close relationship with the client and talking with them to understand their needs as a company comes first for us,” says Cuda. “For full-service clients, our role is to be there for them with whatever task they need help with and to build out any customizations they want to ensure the system works smoothly for them.”
The full-service package provides business operators the advanced lease-management software system, as well as:
- Data & Document Management
Property Works will fully handle the extraction of all property data and documentation into the software, as well as manage and monitor your portfolio moving forward.
- Accounts Payable File Generation
Each month, your Property Works account manager will generate a flat AP file for upload into your existing accounting platform.
- On-Demand Configuration
Property Works’ IT specialists can configure and customize the software to meet your business’ exact needs.
- Landlord Correspondence
The Property Works team will step in between you and your landlord to field all communication and to represent your best interests. Mail and statements from your landlord will go directly to Property Works to be processed and entered into the system.
- Service & Support
Property Works’ lease-administration experts will assist in portfolio consultation, training, compliance requests, and more. Each client receives a dedicated account manager that will be your primary point of contact.
To learn more about which solution is right for your company, schedule a call with Property Works. Our dedicated support staff look forward to becoming part of your real-estate management team.