COMMERCIAL PROPERTY SOFTWARE

Best Top 6 Commercial Property Management Software (Reviewed and Ranked)2023

BEST TOP 6 COMMERCIAL PROPERTY SOFTWARE THAT YOU WILL WANT TO USE IN 2022

Property management has undergone a transformation thanks to commercial property management software. Commercial property management involves wearing several hats. Those are: • Accounting • Marketing • Maintenance • Interaction between the owner, vendor, and tenant And that's only the start. You get access to an all-in-one platform with excellent commercial property management software. You can streamline and optimize each of these areas thanks to technology. This guide's goal is to show you some of the top accounting tools for commercial property management so you can take use of them. 1: MRI COMMERCIAL SUITE 2: APPFOLIO PROPERTY MANAGER 3: DOORLOOP 4: TOTAL MANAGEMENT 5: SKYLINE PROPERTY MANAGEMENT SOFTWARE 6: MY PROPERTY STATS
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COMMERCIAL PROPERTY MANAGEMENT
My top suggestions for the best COMMERCIAL PROPERTY MANAGEMENT SOFTWARE to utilize this year are as follows

OUR TOP 6 PICKS & FEATURES

5/5
From $-Custom
4.5/5
From $280/mo
4.7/5
From $24.50/mo
4.7/5
From $2.50 / Unit / month
4.5/5
From $-Custom
4.5/5
From $99.00/yr
FIND WHAT YOU REALLY NEED

What is Commercial Property Management Software?

Software for managing commercial buildings offers the financial and managerial resources required for upkeep. Office buildings, retail establishments, hotels, shopping centres, apartments for students, and medical facilities are some examples of real estate that are managed using commercial property management software.

Commercial property management systems offer an all-in-one tool to track rent payments, manage leases, and keep track of the upkeep of their buildings and units, much like residential property management software does. In addition to these fundamental functions, commercial property management software will offer personalized dashboards for improved analytics, instant CAM tax and insurance reconciliation, and a direct line of communication with the owners for inspection reports and the proper financing of significant renovations.

Through automation, time and money can be saved by using property management software for commercial property management. Workflows that are provided can quickly allocate and compute the proper rates for each form of lease. The software can automate and schedule rent increases as well as manage tenants with numerous leases and housing units.

 

For small & large, MRI COMMERCIAL SUITE is the Ultimate All-in-One Tool for COMMERCIAL PROPERTY MANAGEMENT SOFTWARE

The best overall COMMERCIAL PROPERTY MANAGEMENT tool platform
for online businesses

One of the most well-known commercial-specific solutions is MRI Commercial, which offers a wide range of features and leasing tools with a high degree of customizability.

Features of Commercial Property Management Software

Manage commercial properties owned by several people via the owner portal. Give owners access to financial documents and reports on unit and property inspections through an owner portal. allows owners to give property managers money for necessary repairs and upgrades. Send owners ACH payments without delay.

Tenant Portal: Provides online access to information as well as the option to sign leases, pay rent electronically, request maintenance, and submit payments.

Marketing: Post open positions online and decide what kind of rent to charge. Monitor lead follow-up to give higher-value opportunities priority. keeping an eye on marketing expenses and ROI. Promote your brand locally to strengthen it.

Maintenance: Keep up with common area maintenance (CAM), which enables you to keep tabs on the expenses related to the upkeep of the common areas of your commercial properties. Allowing tenants to submit maintenance requests online, maintaining a thorough history of requests, generating work orders for your personnel and support staff, and archiving inspection information including reports and images are all features.

Accounting: Review your financial information in detail using a general ledger, examine your expenses, and look for additional revenue streams. Reports are shared with decision-makers and stakeholders after performance comparisons among properties..

Benefits of Commercial Property Management Software

You must be well-organized if you want your commercial rental property business to succeed. The following advantages can be easily accessed and streamlined with the aid of user-friendly commercial property management software.

Enhance Long-Term Cash Flow with the Help of Reliable Tenants

Quality tenants can be rewarded with simple ways to pay their rent online, submit work order requests, review and sign leases, and more thanks to commercial property management software.

Finding quality tenants is one of the main objectives of every property management company. Commercial vacancies can take longer to fill than residential ones since vacant properties don’t generate any income. This does not imply, however, that vacant positions should be filled by anyone who can write a rent check.

For property managers and owners, the most reliable source of income is from tenants who consistently pay their rent on time, experience few problems, and are willing to break their leases. Finding the ideal business renter might result in long-term benefits because they can develop into a reliable source of income. Commercial leases can last for longer periods of time, making it even more crucial to choose a top-notch tenant who is financially stable.

Software for commercial property management can do tenant screening and evaluate prospective or current renters by looking at things like their history of leasing, how frequently they experience problems, how timely they are with payments, and other factors. This can reduce past-due bills, giving you more time to concentrate on raising the standard

Handle Common Area Maintenance (CAM) Fees With Ease

Common area maintenance fees, or CAM, are specific to commercial property management. In a triple net (NNN) lease, this is one of the net charges that renters are responsible for. A part of your operating expenses that are included with taxes and insurance is CAM. The building’s occupants all contribute to these costs. Each year, tenants pay an estimated expense based on the budget and their fair part according to the amount of space they occupy in a building. These costs aid owners and landlords in defraying the overhead expenses for the shared areas.

These costs will be tracked by commercial property management accounting software, which will also determine the percentage owed by each renter. You can enter the gross leasable space of a building into the software and subtract that amount from the square footage of a tenant. This informs you of the overall portion of the building that the renter is in charge of. To calculate a tenant’s CAM costs, multiply this percentage by the total expected CAM.

Quick Reaction To Required Maintenance

You must make sure you are truly performing the required maintenance services when the problem arises now that your maintenance payments have been paid. Using commercial property management software can help you keep tenants happy and guarantee that your buildings are performing to their maximum potential.

Most commercial real estate software includes maintenance capabilities, such as work orders that may be allocated to specialists and added to a timetable or workflow that your personnel can follow. The software can determine which members of the maintenance team are efficiently following up on maintenance and how productive they are at their jobs.

Even more, sophisticated maintenance routines, such as preventative and predictive maintenance, can be implemented in your company. You may monitor and scan a variety of your assets at these commercial sites for performance trends, which can help you make timetables, keep track of processes, establish maintenance schedules, balance workloads, and more.

Property management software for businesses versus homes

The purpose of residential property management is to oversee both single-family and multifamily dwellings. The management of commercial businesses is typically more complex than tracking these properties. The software that corresponds to each sort of property is the same.

Additionally, there are considerably more residential units than business units in the world that need to be handled. Due to this, the vast majority of property management software programs available are designed for use by residential property owners and managers

Some property management firms, however, might manage both residential and commercial properties, or they might only manage commercial properties. Does your commercial real estate management company find these standardized property management solutions to be effective?

Using a domestic system while operating in a commercial setting is not advised. The various kinds of commercial leases that are offered are specific to commercial properties (more on this below). The complexity of these leases can be handled by a commercial system. Commercial property managers should keep an eye out for characteristics particular to the commercial sector, such as but not limited to:

How to Use Software to Manage Leases in the Commercial Real Estate Industry

For a variety of various commercial leases, commercial property management software can include both lease administration and lease accounting functions. Financial estimates can be guaranteed to be correct with proper management of commercial real estate leases. The procedures used to determine rent are fundamental to commercial real estate leases:

Net: Low base rent; expenditures are the tenant’s responsibility.

Gross: Tenant makes a single payment; the landlord is in charge of all costs

Taxes, insurance, maintenance, utilities, and cleaning services are a few examples of expenses.

Net Leases”There are more varying costs associated with net leases. In addition to the minimum rent, the landlord may impose additional fees to cover routine management costs. The most frequent type of lease for commercial premises is a triple net lease or NNN lease. The three “nets” that a renter is accountable for are referred to as the “triple net” (property taxes, insurance, and common area maintenance). Fees that a landlord may impose under a triple net lease include the expense of maintaining common areas (such as the electric bill for the lobby) and hiring an attendant or janitor. NNN leases are typically regarded as being favourable to landlords.

Net Leases

In a gross lease, the tenant pays the landlord a set amount. Then, the landlord uses the money from this fixed rate to cover any subsequent costs. Since the landlord assumes the greater risk for possible expenses, these leases are viewed as being friendlier to the renter. The lease agreement may, however, contain a provision allowing the landlord to raise rent to cover any unanticipated rise in taxes or insurance

In commercial property management software, how are these costs and leases handled? In addition to handling all billing kinds, including CPI hikes, percentage rent calculations, recovery billing, late fees, recurring charges, and straight-line rents, a competent lease accounting tool will send alerts of rent increases. Software for commercial real estate will also offer lease management, which includes the ability to add new leases, modify existing ones, view the history of previous leases, and create custom fields for particular circumstances.

Which accounting program is ideal for managing rental properties?

The tool that performs all you need it to do—and more—is the best accounting software for managing rental properties.

What device can make your life simpler while resolving your issues?

What tool can you use to simplify your operations while enhancing productivity and cash flow?

What tool, then, feels more like an asset than a liability?

Finding the right fit may be challenging, as we well know.

We as property managers’ advisers were unable to come up with the answer we desired for ourselves.

That is DoorLoop, a full-service property management program that comes with everything from:

  • a tenant and owner portal accounting suite
  • Convenient possibilities for in-app communication
  • Work order administration
  • Tools for screening and marketing
  • plus a lot more.

The accounting program that works best for you and your property management company is the one you use.

Reviews about us

We’re a reader-supported publication. Learn more about how we independently research, test, review, and suggest the best products. We may receive a commission if you purchase something after clicking on one of our links.

Our Methodology

Our writers researched the most popular COMMERCIAL PROPERTY MANAGEMENT software on the market. They looked at 10 different pieces of software in total, screened alternatives from ten different companies and makers, reviewed 25 user evaluations (both good and negative), and tested three of the pieces of software themselves before making their final recommendations. All of this study has resulted in advice that you can rely on

What people says....

SUMMARY

  • CONCLUSION

    These are some valid justifications for using this type of software in your professional life. You may not really need this kind of software if you are just starting out in commercial property management. But if your business is already large, you will undoubtedly require the best commercial property management software.

    Read the following connected articles for more information.

    Top-Rated Accounting Program

    Best CRM PROGRAMS

  • Also, see our article on Best Project Management review

COMMERCIAL PROPERTY MANAGEMENT
#1: Why Choose MRI COMMERCIAL SUITE: Best Overall COMMERCIAL PROPERTY Management Software

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MRI COMMERCIAL SUITE

OVERALL SCORE
4.9/5
4.7/5

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ABOUT MRI COMMERCIAL SUITE

For corporate real estate departments and property managers, MRI Commercial Suite is the industry standard in commercial property management software. For owners and managers of office, retail, and industrial facilities, MRI Commercial Management increases internal efficiencies, provides accurate information that delivers deep visibility into past and future performance, and enhances decision-making continuously.

You can take charge of your real estate assets at every stage of the property lifecycle with the aid of MRI Commercial Property Management, which will also assist you in maximizing the profitability of your retail, office, industrial, and mixed-use real estate investments.

 

MRI COMMERCIAL SUITE

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APPFOLIO PROPERTY MANAGER

OVERALL SCORE
4.9/5
4.7/5

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ABOUT APPFOLIO PROPERTY MANAGER

For multifamily & single-family, commercial, student housing, homeowners & condo association, and mixed portfolio property managers, AppFolio Property Manager offers mobile, all-in-one property management software to efficiently market, manage, and expand their business.

Online applications and leases, owner and resident portals, online payments, built-in screening, maintenance requests, mobile inspections, bulk messaging, and extensive accounting and reporting are just a few of the services that AppFolio offers to assist the modern manager.

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DOORLOOP

OVERALL SCORE
4.8/5
4.5/5

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ABOUT DOORLOOP

Get the simplest property management tool that enables you to manage all of your properties from a single location. includes an infinite number of buildings, renters, owners, leases, customers, and suppliers. Included are free training and assistance.

For the first 20 units, lock in rates as low as $49 per month.

Making your life simpler will enable you to accomplish more in less time. You may test it risk-free today by scheduling a free demo; no credit card is required.

DoorLoop is proud of its three key differentiators:

  • world-class assistance
  • Not hours, but 24 minutes is the standard response time for all texts, emails, and chats.
  • Test your account creation and initial step-by-step completion times.
  • Usefulness: Complete the challenging competitor exam to receive a free trial offer from the top three rivals.

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#4: Why Choose TOTAL MANAGEMENT: Best for medium-sized property managers

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TOTAL MANAGEMENT

OVERALL SCORE
4.75/5
4.6/5

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ABOUT TOTAL MANAGEMENT

Total Management is an all-inclusive, cloud-based application for real estate, both residential and commercial. The program was developed because its creators were unable to locate an effective software program to manage their own portfolios. Software that is comprehensive, incredibly powerful, simple to use, and nonetheless capable of giving managers and owners the property overviews they’ve been looking for was developed in response to this demand and using the experience of the business. Total Management is perfect for businesses of any size, with features tailored specifically for medium- and large-sized enterprises.

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SKYLINE PROPERTY

OVERALL SCORE
4.7/5
4.5/5

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ABOUT SKYLINE PROPERTY MANAGEMENT

A web-based property management and accounting solution from SS&C Technologies called SKYLINE is appropriate for small to medium real estate companies. SKYLINE is capable of providing integrated solutions for property administration, accounting, tenant and lease management, financial reporting, maintenance scheduling, and work order management. It is designed to handle a variety of important functions.

SKYLINE PROPERTY MANAGEMENT

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#6: Why Choose MY PROPERTY STATS: BEST FOR investers

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MY PROPERTY STATS

OVERALL SCORE
4.7/5
4.7/5

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ABOUT MY PROPERTY STATS

A profitable, organized, less stressed, way to run your portfolio and make better-informed decisions. Here’s how MyPropertyStats makes it happen.
MyPropertyStats aggregates all of your real estate property and deals information into a single, flexible platform that allows you to analyze, manage, and grow your entire portfolio – whether you have 1 property or 100.
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Frequently Asked Questions

  • Software created to assist landlords and property managers in managing their properties is referred to as commercial property management software. It specifically refers to the processes, from accounting to marketing, that property managers employ to manage those properties.

These costs will be tracked by commercial property management accounting software, which will also determine the percentage owed by each renter. You can enter the gross leasable space of a building into the software and subtract that amount from the square footage of a tenant. This informs you of the overall portion of the building that the renter is in charge of.

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