We recently launched our first Re-Leased Commercial Property Manager Month with immense enthusiasm to honour the dedicated individuals who drive positive change in the world of commercial property management.
We recently launched our first Re-Leased Commercial Property Manager Month with immense enthusiasm to honour the dedicated individuals who drive positive change in the world of commercial property management.
The office market is undergoing a significant transformation, marked by a seismic shift in tenant preferences and strategies. Recent data from Re-Leased reveals a notable decrease in the average length of office leases across the United Kingdom, New Zealand, and Australia, reflecting a shared trend in the commercial property industry. This article will focus on the office market, exploring the factors driving this shift and the implications for landlords and occupiers alike.
If you’re managing farm or rural estate portfolios, you will face certain challenges. Without accurate and up-to-date data, the management of rural estate properties can quickly become complex. The right cloud-based rural estate software reduces the complexities of managing a diverse range of assets, improves processes and gives you the ability to access the right information in the right place, at the right time.
Nowadays, tenants want more amenities, and long-term leases are becoming less common. Plus, energy efficiency and sustainability are becoming major concerns for landlords and tenants alike. This means that building owners and management teams need to get creative and think outside the box to create sustainable and flexible spaces that meet the needs of today's tenants.
As a property manager or landlord, collecting rent from tenants can be a stressful and time-consuming process. But with the rise of technology, modern rent collection has become more streamlined and efficient than ever before.
In today's digital age, data breaches and cyber-attacks have become increasingly common, including invoice scams which are impacting the property industry. Hackers use sophisticated techniques to gain access to sensitive information, leaving businesses vulnerable to fraud, theft, and other forms of cybercrime. To combat these threats, many online services now offer Two-Factor Authentication (2FA). This article will explore the importance of 2FA and how it can help protect your online software accounts.
As the world continues to grapple with the ongoing pandemic, one thing that has become clear is that our normal patterns of behaviour have been drastically altered. One area that has seen a significant shift is where we choose to call home.
The most reliable way to grow a successful real estate business is to keep all of your properties in top condition and maintain a pool of happy and satisfied tenants. Whether you are an owner or investor managing your own buildings or you manage on behalf of owners, then versatile, user-friendly property management software in can save you time, cut costs, mitigate risk and help you grow your business in 2023.
Ergo Real Estate is a £300m fund targeting investments in the London conurbation, the south-east of England and other major UK cities — providing the potential for income enhancement through skilled asset management and capital value growth from repositioning and restructuring of assets, leases and occupations and uses.
To state the obvious, the last few years have seen the market mood go from boom to subdued. Despite this, Scott Keck, Chairman of Property Advisory Firm, Charter Keck Cramer encourages those working in the property industry to stay the course - and hold on tight for conditions to improve.
The Real Estate Institute of Australia (REIA) has signed a three-year partnership with global commercial property management software company, Re-Leased.
While the business of commercial and residential property management appears to have many similarities, they are fundamentally different and require a different approach to run successfully, from both a personnel and software perspective. All too often commercial property management is run with residential property personnel, and legacy software systems - a model that is increasingly agreed to be broken. As part of a recent webinar, we spoke with Wendy Thompson, owner of Wendy Who? a highly respected professional property consultancy, and Jason Luckhardt, National Manager of NAI Harcourts, the world’s largest network of owner-operated commercial brokerage firms, on why residential approaches don’t work for commercial properties. Watch the full webinar or read below for key takeaways: Why residential and commercial property managers are not made equal While it may seem like a simple transition, not every residential property manager is made for commercial real estate. And vice versa. At its core, the driving motivations between leasing residential and commercial assets are starkly different. “People don't have the necessity in life to have occupied commercial premises, it's a choice that they make, whereas people have a necessity of a roof over their head. So you start off with two very different bases in terms of property management. ” - Jason Luckhardt. These differing approaches then directly affect the service offering and landlord expectations associated with the role, which of course then flows through to the job description and ultimately the appropriate personality type of successful candidates. The role of a commercial property manager is extremely technical and complex, while a residential property manager is largely concerned with efficiencies around property maintenance and tenant satisfaction, From understanding legislative requirements in every region they work in, to managing tax, completing accurate lease administration, and ensuring all compliance is met by both tenant and landlord, the role is extremely business development focused. Being able to interpret macro and micro level reporting and offer timely advice to landlords is another part of the role and requires a person who thinks critically, and is extremely efficient. Given the difficulty of the role, and the vastness of the responsibilities that fall under it, a key component to the long-term success of the property manager, and therefore the business as a whole, is the need for appropriate available software. The importance of fit-for-purpose commercial real estate software “It's so critical to have good systems to be able to help you manage and simplify complexities so that you can focus on the landlord’s investment and maximizing the income to the agency.” - Wendy Thompson. When it comes to commercial real estate management, good reporting is imperative. Whereas a residential property is bricks and mortar and contains one type of tenant, commercial properties can be much more complicated. A multi-level property may have stacking plans, different business usages, car parking - and unique utilities. In a property such as this the landlord will want to see a detailed breakdown of expenses, track the vacancies, negotiate leases and identify the efficiencies in order to be able to derisk their investment and maximise the value of the asset for the owner. This requires both a level of macro and micro reporting that residential software simply cannot supply. "You need a system that allows you to put data in and analyze it locally to look for efficiencies. That's really where you're going to win business” - Jason Luckhardt The complex nature of the amount of information required to manage a commercial property portfolio effectively is not only a brain tangle but hugely time-consuming. Having a software system in place that is fit for purpose also greatly reduces the amount of admin time property managers spend inputting information and double-checking data. A good software system will automate everyday reminders and critical events, ensuring you are reminded of upcoming activities so that you don’t miss a beat, which in turn frees up time to get on with building your business. “Having a software program that makes it simpler for you at the end of the day is so important.” - Jason Luckhardt Of course, there are many services that are the same in managing residential and commercial properties, and this is why so many businesses persist in using legacy residential software with a few workarounds. But given the many unique challenges that commercial property managers face, this model is the business equivalent of fitting a square peg into a round hole. Check out our latest FREE guide on the ins and outs of making the transition from Residential to Commercial Property Manager and our expert tips like the ones above.
The commercial real estate industry is experiencing a rapid shift from old ways to new so we’ve decided to uncover and share these stories of innovation in our new podcast series – The ChangeMakers in CRE. We're diving into all corners of CRE from investment decisions and property management, to ESG, business intelligence, the future of cities plus much more.
The commercial property industry is facing a new era driven by smart software and real-time insights. It’s no surprise that technology adoption is growing among commercial property management organisations and investors, and this is a telling sign of a shifting mindset.
Funding will enable the leading cloud-based commercial real estate platform to accelerate its global expansion.
There has been cause for celebration at Re-Leased, as it was announced we were nominated for PropTech Innovator of the Year at the Property Week Awards 2022.
With the Covid-19 pandemic accelerating many already growing trends, it’s predicted that paper billing will become obsolete by 2026. Businesses will now, more than ever, be opting in for synchronised and streamlined practices for managing their payment process from start to finish as opposed to using traditional methods. This is particularly important when managing commercial real estate as the easier it is for tenants to pay you with online rent payments, the quicker they do. For property managers and landlords, you’re also significantly reducing the time spent reconciling invoices and chasing arrears. To offer customers a solution that keeps them ahead of the game and able to track payments coming into their business in real-time, we introduced Re-Leased Pay – a secure digital payment solution reducing administration time, at little to no cost to your business and that can be set up within minutes.
RSM Australia (RSM), one of Australia’s leading professional services firms is joining forces with Re-Leased, Australia’s leading cloud real estate platform, in an industry-leading partnership that will improve the efficiency of Australian property businesses.
Commercial properties are more than just bricks and mortar, they are lucrative business assets, assets which must always be profitable. To try and guarantee this, commercial landlords have two important goals: to maximise rental income and to safeguard against potential losses.
The question for many landlords and accountants is if I’m currently using QuickBooks Desktop, why should I make the switch to QuickBooks Online? By looking at the key features of QBO vs. QBD, we can help commercial landlords and accountants understand what will work most efficiently in their business.
Re-Leased has been shortlisted at the annual Xero Awards for Industry-Specific App of the Year, which recognises the achievements made by those leading the way in the accounting and app industries.
Melbourne, 9 February 2022 – Re-Leased, today announced it has been named to G2’s 2022 Best Software Awards, named as one of the top 25 best ANZ software sellers. Operating a software marketplace used by more than 60 million software buyers annually, G2 is the definitive online destination to discover, review and manage the technology that businesses need to reach their potential. Its annual Best Software List ranks the world’s best software companies and products based on authentic, timely reviews from real users.
When setting your practice’s goals for 2022, it is important to understand what your clients’ priorities and pain points will be in the coming year. Knowing what’s ahead for your clients will allow you to give more proactive business advice and help you to anticipate how you will need to adjust your advisory offerings to better serve your clients.
You’re probably here because you just plugged “best alternatives to AppFolio” into Google (or some other search engine) and shuddered at the sheer number of options. On G2 alone, there are 382 property management software solutions. 382! Don’t worry though — we’ve done the legwork for you. In this guide, we’ll cover the pros and cons of the top property management software solutions on the market. But first…
In a time where most everything is digital, utilizing cloud-based technology to run your business is no longer a want to have, it's a need to have. Commercial property management software enables landlords and property managers to automate leasing, accounting, tenant management, operations, and marketing activities. Taking this approach one step further, a property management system with the right integrations creates an efficient, cloud-based operation that can manage commercial property and accounting in one central location, eliminating human error and duplicate data entry. Xero offers a cloud-based accounting platform that integrates with specific property management solutions to provide financial transparency for owners, investors & all necessary stakeholders while ensuring bookkeeping is completed accurately and promptly. Xero users can view their tenant contacts and financial transactions at all times with a constant flow of information between platforms. Property managers can upload their transactions and sync all their key contacts from any device alleviating the need for accountants to chase down information & allowing for the business to always be financially up to date. In this article, we break down the top property management systems that integrate with Xero.
When shopping around for property management software, you may have found you have many to review. One of the many consideration factors is which accounting tools are available. Most property management platforms offer a simple sync of your income and expenses. However, finding a property management software system that fully integrates with QuickBooks Online can be more challenging than you might think. Eliminating being tied to a PC in the office and double entry by your accounting team are essential features that can be found in the best-integrated systems. In this article, we break down the top 4 property management systems that offer full integrations with Quickbooks Online.
How has the pandemic affected commercial landlord and tenant relations, and what will be the lasting impact?
While generational change is not a new concept (hence, generational), the step changes being made within Rural Estate Management currently are significant.
While the US market for residential real estate continues to run hot, ongoing fallout from the pandemic has created hardship and an uncertain outlook for many commercial real estate sectors. Warehouse space for industrial and e-commerce users remains in high demand, but it’s no secret that the retail and office buildings market has taken a major hit.
Although Australia has done remarkably well throughout the COVID-19 Pandemic, access to capital from traditional banking channels has become more difficult than ever. At the recent RSM Melbourne Property Summit, Koby Jones, Founder and Managing Director of The SILC Group, hosted a session to discuss alternative funding solutions for Australian developers and investors. Here are some of the highlights.
Commercial property owners throughout the UK are missing out on hundreds of thousands of pounds due to a largely misunderstood and significantly underutilised tax relief relating to embedded capital allowances. Despite the ability to claim Capital Allowances having been in play for many years, and the specific Capital Allowance Act 2001, it is still a niche area of tax accounting that most small to medium firms simply cannot provide as a service.
A lot of property managers and landlords use spreadsheets for a variety of needs. They’re a tried and tested way of storing and organising information, and when used with clever formulas and calculations, they are handy assets that add value to an organisation. But even with the ability to leverage off formulas, spreadsheets still require a lot of manual legwork in having to physically update data to keep information up to date. And this creates more headaches for property management teams.
In the Australian and New Zealand commercial property industries, there are few more important terms than the lease. A lease ensures a mutually beneficial relationship between the lessor or ‘landlord’ and the lessee or ‘tenant’. It acts as the guide and rule book to how each party conducts their business by outlining their respective duties throughout the term of the tenancy.
Retail rent collections dropped to their lowest point in over a year in New South Wales as the latest lockdown continues to impact Australian businesses. Just 65% of retail rent was collected at the end of September in the state, which was the lowest figure since August 2020, when 62% was collected.
A triple net lease for commercial real estate involves a different set of considerations than residential leases. Commercial real estate owners use a net lease, where the tenant pays a share of the property’s overhead expenses plus their rent and utilities. Each expense is called a “net.” Investors and landlords favor the triple net lease because it benefits them from earning passive income and not worrying about the expenses.
There is often an unwritten rule in rural estates and farming to try and leave things in a better condition than when you took them over. So, what might this look like for the next generation?
In commercial real estate, the lease is everything. The lease is the contract that guarantees the income to the property; it is the document that, for all intents and purposes, gives a property its value. In other words: you can take it to the bank.
It may seem counterintuitive, but using spreadsheets is one of the most costly ways to run your property management operations. In an increasingly competitive market, your business needs fit for purpose tools and technology adoption needs to be at the forefront of your organisational strategy and operations if you want to continue growing in the 21st century.
As a commercial landlord, your understanding of the pros and cons of different types of commercial leases will be critical to signing and retaining good tenants. A commercial lease is a binding contract between you, as the owner or landlord, and a tenant. The lease details all of the rights and responsibilities of each party. The commercial lease covers both the leased space and the building as a whole. Not every lease agreement is the same. Each agreement you draft should reflect the individual needs and concerns of both you and your tenant.
Commercial property landlords are operating within an increasingly competitive market. Working habits are changing, and tenants are increasingly tempted to seek out short-term, flexible workspaces.
The real estate industry has always been a laggard when it comes to embracing technology.
*This is an excerpt from our report The Next Era for Australian Office Owners and Operators. You can download the full report here.
*This is an excerpt from our report The Next Era for Australian Office Owners and Operators. You can read the full insight-laden report here.
*This is an excerpt from our report the The Next Era for Australian Office Owners and Operators. You can view the full report here.
*This is an excerpt from our report: The Next Era for Australian Office Owners and Operators which you can download for free here.
The office asset class in Australia is at a unique inflection point as investors understand the growing need to adapt, and it will be those willing to make changes who will benefit the most.
Re-Leased are excited to announce a partnership with LXi REIT, providing them with a cloud-based commercial asset management solution. LXi REIT is a FTSE 250 company providing an inflation-protected income and capital growth investment underpinned by a secure and highly diversified portfolio of long-let and index-linked UK property assets.
In May 2021 office occupancy in London, as measured bythe Metrikus Occupancy Index, surged above 50% for the first time since lockdown measures were introduced in March 2020. The trend is being seen across the UK, with occupancy for the country coming in at 47%. As restrictions ease and vaccination numbers rise, these factors will help boost worker confidence in returning to the office. But it won’t be a return to the office as we knew it, as demand grows for flexible leases and spaces that offer experiences and amenities that cannot be found at home.
Commercial property management is more competitive than ever, yet commercial property managers are persisting with legacy residential management software, building in workarounds and force fits. Commercial and residential property managers have many things in common, including:
Congratulations, you’ve decided on a new property management software to boost your commercial real estate company’s performance! But before you start seeing the benefits, you’ll need to get the system setup and running. This process can have many names – implementation, onboarding, migration – and it can be an unknown if you’ve never gone through it before. The ideal scenario after you’ve purchased your software is that the implementation runs smoothly, you get to learn the ins and outs of the platform, and then you’re ready to hit your target go-live date. In this blog, we’ll outline 4 steps to get your company ready for the move and get up and running without any headaches. If you haven’t quite settled on your new software of choice, read through our guide to selecting the best platform for your company here. Understand what’s involved in the implementation Firstly, it’s important to know you will have to commit time and effort to the project during implementation. Having someone in your office who will own this on your end is key. They will act as the bridge between the software provider’s implementation specialists and your team. There will typically be a kickoff call with the software provider and this is where they will outline what will happen each week and the training sessions that will take place. A standard implementation can take three months, so having buy-in from your team is critical to keeping the momentum going as you progress through the onboarding. Working together with your software provider and asking for transparency in each stage, helps to stay on top of the implementation. While some companies might be looking for a quick fix when it comes to bringing on new software, the reality is that you have to be prepared to commit to learning and understanding a new system to get the full benefits. Clean up your data One of the main questions companies have when moving to a new system is, ‘What should I do with my data before migrating it?’ The simple answer is to clean it up by making sure everything is correct and up to date. Often, businesses are not as vigilant as they should be in ensuring data accuracy. But, once again, putting the effort in before making the move will streamline your data migration and the overall implementation. Important data to check and update: Inspections and maintenance tasks that need to be closed off Reviewing owner and tenant profiles - name, contact number Rent reviews and lease renewal dates Outstanding invoices that need to be paid Check your whole database - have you got information in there that you don’t need? Attend the training sessions No one expects you to become an expert on a property management system straight away. That’s why it’s essential to attend the training sessions and get familiar with how the different features, workflows and dashboards work. These are some of the typical sessions you will have with your provider: Introduction to core features and functions Property management functions Tenancy management functions Expense recovery Trust Accounting functions Before or after these sessions, your software provide might also direct you to their Knowledge Base or Help Centre which will have articles and videos with comprehensive step-by-step guides on how to use specific features. The Knowledge Base is a valuable resource that should be taken full advantage of to help speed up your learning. Inform your clients, tenants and owners of the change While you would have communicated the system change with your staff internally, it’s just as important to notify your clients, tenants and owners. This is a great opportunity to reach out to your clients and let them know all of the benefits they’ll now experience with the new software, such as access to a mobile app or online portal, or greater visibility of a property’s performance. Keeping clients updated avoids any surprises on their end when they see some of these changes. Going live Reaching the end of your implementation should mean you are ready to go live with your new software. But don’t fret that you’ll be left on your own, the implementation team will be on-hand for that first month while you get fully acquainted with the system. After that, you’ll have access to the customer support team who will be your port of call for any issues, guidance, or questions you may have as you start a new chapter. Check out our in-depth guide for more tips and insights on streamlining the implementation process so you go live in time for the new fiscal year. Get the guide
Re-Leased has partnered with Azets, the international accounting, tax, audit, advisory and business services company, to provide the group’s 2000 property customers with access to its market-leading software.
With lockdowns expected to continue for another month, many of us are no-doubt holding out for some sense of normalcy. But parents, in particular, have been doing it tough as they juggle full-time jobs and full-time teacher duties with homeschooling. We have been checking in with some of our team to find out how they’re handling this difficult time and their top 5 activities, tips and tricks they can share for other parents out there.
Five years ago, Proptech and CRE tech were far from common terms. Fintech had already taken off but it wasn't impacting the commercial property industry yet.
It has been 235 days since the United Kingdom went into our first lockdown on 23rd March and the unpredictable roller coaster ride of 2020 began. Now, halfway through our second lockdown, we paused to have a chat with one of our Re-Leased customers, James McArthur from NG Chartered Surveyors. We reviewed what we learnt in lockdown one and discussed strategies for surviving and even thriving through the end of lockdown two.
There was once a time when businesses wanted to have as little to do with their accountant as possible. As long as the financial side of things was taken care of, businesses were happy.
The best businesses are constantly looking to improve operational efficiency. That often means finding and implementing smart software systems to be more productive and reduce costs.
Re-Leased and QuickBooks Online integration set to shake up property management in North America
SoftwarePundit, a technology research firm focused on providing advice, information and tools to help businesses strive, recently listed Re-Leased as best in class for Commercial Property Management.
Product Announcement | CREDIA by Re-Leased Re-Leased announces the launch of CREDIA (Commercial Real Estate Data Intelligence & Analytics), a new property intelligence platform with valuable real-time insights for real estate professionals. With CREDIA, asset and property managers, or landlords and investors can access operational data and financial analytics that will enable faster decision making and more accurate forecasting, supported by evidence rather than gut instinct.
Regional View Total % rent reconciled (as of day 4, end of 28 June)
Re-Leased, the cloud-based commercial property management platform, has revealed that just 18.2% of commercial rents in the UK were collected by landlords on 24th June, this quarters’ rent date. This contrasts to 25.3% that was received on March quarter rent day, representing an overall decline of -28% over the three-month period.
The importance of being able to work from anywhere can’t be understated - especially now. In the wake of COVID-19, it’s important to ask yourself - can I effectively work from anywhere? Some organizations are built for remote work and won’t miss a beat when a large group of employees is asked to work from home. If you’re new to working from home, we’ve compiled a few tips and tricks to making sure you maintain productivity in your new space.
The practice of working for an extended period outside the office has been growing steadily in popularity, enabled by a suite of digital tools. As a cloud-based business, Re-Leased has embraced remote working since inception. As we see businesses take action around COVID-19, we have highlighted our tips which have made remote working a success for our company.
We are now entering a period of the most extensive remote working test the world has ever seen. Hundreds of businesses globally are looking to transition their teams from office to home, with the desire to keep their clients and employees safe and productive. The need to have a robust working from home strategy is now not a nice to have, but a must-have. This blog details the most cost-effective cloud apps to fast-track your team for remote working while ensuring business continuity.
Re-Leased Named Industry-Specific App of the Year at the Xero Awards UK & Ireland 2020
We sat down with Trevor Cowley, one of the founders of Easier Accounting, and Chris Hibbs, technical accounting expert, to get their perspective on the power of cloud technology in accounting firms.
This is a guest post contribution by Gabe Nelson of Living The San Diego Life.
Building relationships in business takes hard work and dedication. There needs to be a clear understanding of what each party’s vision is, and how that pertains to the goals set in place that determine business outcomes.
Kevin Muldoon-Smith, Northumbria University, Newcastle and Paul Michael Greenhalgh, Northumbria University, Newcastle
Commercial landlords who manage their own property portfolio can do a few clever things to increase their yield, one of them is to save on property management costs by managing their own portfolio.
As a property management professional, your time is valuable. You can’t afford to be spending your time on repetitive tasks that bog you down.
At the sold out Napier War Memorial Centre we faced some great competition, where the most celebrated businesses in the Hawkes Bay region came together at the Export Awards event.
Distributed with the Telegraph, Re-Leased is bestowed the Business Reporter’s Best of British Business 2019
Leasing out commercial spaces brings its own set of unique challenges. To get the most yield out of a commercial property portfolio, landlords need to make sure they have a strategy in place to maximise returns.
Technology has proven to be an enabler of business growth and an accelerator for innovation.
Running an efficient business is important today to remain competitive.
Commercial real estate technology, or PropTech, has attracted huge financial investment (while continuing to claim global intrigue by leading investors) in recent years. In the United States alone, over $6 billion has been raised by PropTech companies who are disrupting the global real estate industry.
To get the most out of your portfolio you need to make sure you are on top of all tasks that need to get done portfolio-wide.
It’s a popular wrinkle that’s steering conversations among the world’s best property investors – is it worth outsourcing property management of an owned portfolio? Traditionally, there wasn’t the tools available for landlords who wanted to manage their own portfolio. But it’s very different nowadays – there are many commercial property management tools available that are built for today’s professionals. Good commercial property management software should be built for both agencies and landlords – today's tools need to cater for how commercial property professionals run their businesses as modern operators.
Bringing your commercial property business into the modern age requires solid investment, both in time and in finances in order to develop (and execute) on a strategy that’s truly tech-first. We’re in the era of information mobility, where access anywhere at anytime is no longer a commercial property luxury but now a non-negotiable necessity. This is where the entrance of mobile technology has made such a profound impact on the CRE industry.
Next time you’re commuting to work or walking back from your morning coffee run take a minute to pay attention to how many people have their head down. There are a lot of them. And chances are they're not reading the paper – they're scrolling, swiping, clicking and consuming.
Information mobility is a term used to describe the way that information can be accessed from anywhere and from any device. In other terms, information mobility relates to the ability of workers to do so remotely on the same business tasks they can perform at their primary work stations.
As the pressure to innovate increases daily for commercial property investors and property management professionals, one of the most important decisions that needs to be made is what technology platform you’re going to use to manage your portfolio into the future. Now, there are some questions around what cloud-based software actually is (and what the cloud really means), as well as what the difference is between modern, mobile-driven solutions, and server-based or traditional spreadsheet solutions.
Outgoings is a general, industry term used to describe the recovery of money spent from the tenant for expenses that are associated with the day-to-day running (and maintenance) of a commercial property during the term of its lease. Or in other phrasing, outgoings are otherwise referred to as operating expenses – that is ultimately what it costs the landlord to occupy the building.
Commercial property is a complex investment at the best of times. But when disaster strikes, commercial landlords have to deal with the challenges associated with things such as vacant buildings, and from that point on it's a think-quick approach to move forward to reap the rewards of the asset. Vacant buildings pose a multitude of risks and are one of the biggest commercial property insurance challenges that exist, and this continues to force landlords to invest in safeguards to protect their assets.
New technology has upped the game for modern property managers and landlords, forcing nimble efforts to adjust to the rise in adoption of platforms that automate the modern professional’s day-to-day.
Let’s talk a little bit about talent agility first...
Commercial real estate is in fine health, according to Macquarie Bank’s 2018 Commercial Real Estate Benchmarking Report, with 82 per cent of respondents anticipating further revenue growth in 2018 and 70 per cent picking higher profits.
For commercial real estate professionals, increasing efficiencies is a popular topic of conversation, and for good reason.
The years travel so fast – yet again we’re creeping up to the New Zealand and United Kingdom end of the financial year (EOFY). There is absolutely no doubt that your daily to-do lists are chock-full and you’re busy growing your business, but we’re here to make sure that you are fully prepared for the EOFY.
The management of VAT is changing for the UK's businesses and accountants. Learn why digital tax management is becoming mandatory and make it work for you before the deadline.
By Libby Sander, Griffith University With all the chatter about beautiful office design, it would be easy to assume workplaces have come a long way from the days of the cubicle farm. But recent research has shown this may not actually be the case.
Shopping around for the right property management software is a daunting task.
We always hear about the importance of leadership in business, but seldom does it seem that typical business management pays attention to the fact that leadership, or the lack thereof, can be instrumental in influencing talent in a business and keeping the churn out. Traditional management techniques tend to suggest that team members are easily replaceable, requiring little more than a new job listing to fix the gap in the chain. But as a lot of leaders can attest, people bring with them skills and knowledge outside the job description. So this means businesses and therefore its management need to create the right infrastructure to harness good talent. This is now as important as ever, as the workforce trends to a younger average demographic with differing expectations, the demand for alternate management styles is at an all time high. But in the past, the peak of management was seen as to plan and command. But the modern workforce wants something different, and for businesses stuck in the past, managing without leading is an expensive mistake. Let’s get to the facts... More than 30% of the workforce is now made up of Millennials, according to Pew Research Center. Millennials want to work somewhere that shares their values. Indeed’s Job Hunt report found that a recommendation by someone in your professional network, not including a colleague, typically accounted for how 26 per cent of people found their next job. And then 19 per cent of job hunters are looking for greener pastures because they’re dissatisfied with their current job. And just 36.7% of employees are engaged at work, according to Gallup. In this particular Australian report by job searching site Indeed, we can see that employees who are not engaged do not do their best work and are at risk of leaving your company. They want to feel like their work has a purpose and makes a difference – they want a good culture fit. A global Deloitte report looks at how today’s organisations exist in a glass door era, where every corporate decision and interaction “is immediately publicly exposed and debated”. Recent research shows that in most companies, engagement levels are low. According to Gallup, under 15% of the global workforce is highly engaged. These numbers demonstrate that there is a lack of refined process around measuring engagement – things like performance reviews and the determination of career growth prospects – that is ultimately resulting in low levels of employee confidence in their organisation’s ability to drive the desired culture. There is an interesting school of thought that says companies should treat employees as customers and consider them as volunteers in their position, not merely workers filling a role. It may be a left-of-field concept but with the birth of websites such as LinkedIn, Glassdoor and even Facebook in some instances, the power of transparency is at the fingertips of the employee. With this global shift, as outlined in Deloitte’s report, employee motivations have changed and there is a legitimate focus on purpose, integration and work-life balance. And now more than ever, we can see that an organisation’s cultural reputation is paramount. True leaders build reputation and nurture talent Clearly this shows that reputation – both formally and informally – counts. And one of the best ways for a business to tarnish reputation is by bad management and poor leadership, while one of the best is to be seen as a standout in the jobs field for work-life balance and strong management. Employee motivation is central to driving success and business leaders motivate their employees. Managers that fail do so by making common mistakes, whether that’s to downplay and pigeon-hole talent, devaluing creativity, individuality or critical thinking. Google is a great example of a company people want to work at. Why? Because it treats its employees as more than oil in the machine, giving them an exceptional work environment, whether that’s free snacks, drinks and meals, or chill out time and space, or hire scooters, for example. Google applies its data analytics to staffing, finding, ”periodic one-on-one coaching which included expressing interest in the employee, and frequent personalised feedback ranked as the No. 1 key to being a successful leader” for its staff. Okay, so why is toxic culture so bad? Management is the group that builds and cultivates that culture, so when leadership is lacking or management's bad the culture becomes toxic. We’ve all seen it in workplaces from across the jobs market: people leaving unannounced, the new hires get left sitting at their desks without proper on-boarding or, worse still, are simply thrown in the deep end with high expectations on instant output. When culture is bad, people pack their bags and leave. It’s that simple. Projects are disrupted, plans are dropped, and expenses balloon out. The costs of turnover can run from the tens of thousands of dollars to more than two times an employee’s annual salary. Not only is there a financial cost, but also the danger and difficulty of finding someone who can fill the void of the past worker.
As arguably the most definitive point of a customer’s experience, a smooth on-boarding process can affirm that the right product decision was made for new customers.
Commercial real estate is typically at the heart of a healthy investment portfolio, but there are some challenges to yielding high returns, such as rent collection and therefore an unstable revenue stream.
Whether it’s making a start, or building on a property portfolio, commercial real estate makes a great addition to any investor’s strategy. For many landlords it provides a high yielding investment with a concrete asset, without many of the downsides that come with residential real estate.
There is a lot of chatter around how we’re going to lose our jobs to computers.
Property management companies are always fighting for the owner’s business, and there are a number of qualities they need to possess to be successful.
Commercial real estate (CRE) companies need to recognise that traditional business models must evolve as the world around them changes. These companies will benefit from rethinking their business strategies and considering new and innovative ways to achieve them.
Shopping around for the right software solution to fit your business can be a challenging task.
In today’s fast-paced technological era any technological development can give a great competitive edge, and those that don’t enhance their commercial real estate experiences can fall behind.
With the digital economy as liquid as ever, accounting has had to rethink the way it does business in order to remain relevant. But is technology a threat to accountants?
Gone are the days of putting your stock in the window front to win business. Now, today's real estate companies have to rely on various revenue streams to scale and grow, and it is technology that’s at the forefront of driving this shift in approach.
For an industry with $3 trillion in revenue a year, and growth of 5.4 per cent over the last 5 years, commercial property management remains something that many in the industry don’t quite get.
There are two choices for any business looking to automate their workflow with software platforms, it’s either server-based software or cloud software. But what sets the two apart?
Landlords in today's market need to get smart. If they are to increase rental yields and keep tenants long term they can’t keep playing the same old game.
NG Chartered Surveyors has announced a major capital investment in the market-leading management software ‘Re-leased’ as the company continues to grow its management department.
GDPR kicks-in on 25th May 2018, and for property managers there is quite a bit to think about between now and then. Whilst the introduction of these new data regulations demonstrates an important step forward in our understanding of the power and importance of personal data, GDPR also carries with it the potential to cause real inconvenience for those property managers who remain unprepared. See the 4 key things that we believe property managers should bear in mind while preparing for the GDPR.
Being aware of how your company is performing is vital for property management. The fragmented nature of the industry means that landlords and property managers cannot afford to let go of the reins.
Commercial property landlords live and die by the lease agreements they negotiate with tenants. It may be bread and butter work for landlords, but leases also require great effort to ensure they’re well-planned and fairly drawn-up.
Re-Leased has been designed to engage with all of the key stakeholders within a property, perhaps the most important of which is the tenant.
Today’s property investors are utilising technology platforms and smarter accounting tools to help separate themselves from the competition.
Re-Leased is the best place for property accountants to easily process invoices, organise contacts, schedule and complete bank transactions, and have full control of their data from anywhere and on any device.
For any property management company, big or small, accounting and bookkeeping are some of the most vital aspects of the job. Get it wrong and it all goes wrong.
The Re-Leased platform has been built upon one very important philosophy; any service we provide must be accessible to and benefit all of a property’s key stakeholders.
We all have workflows we go through on a daily basis to ensure we’re on top of our responsibilities. As property managers, the number of these separate processes can become overwhelming.
By automating as many manual processes as possible, we here at Re-Leased are working to raise the bar of what Property Managers do.
The student accommodation industry is changing rapidly and with an estimated £3.1 Billion of investment from REITS and a number of pension funds (according to the Knight Frank UK student housing Q1 2017 update) it’s not hard to see that independent businesses are under threat.
A new breed of software is about to change the way property managers, asset managers and landlords work with their portfolios – in fact, that silent revolution is already gathering pace. Software as a service, or SaaS, has left a sizeable footprint on the business world. From accounting software to online banking, file storage to document collaboration, SaaS provides powerful tools for businesses of all sizes. And with the advent of the cloud, those tools are becoming more intelligent, integrated and valuable than ever.
Richard Kennedy, the UK Managing Director of Re-Leased Property Software sat down with Dan Hughes, Director of Data and Information Product Management at RICS (The Royal Institution of Chartered Surveyors) to discuss exactly how important data is in the commercial and residential property industry.
Many of us are familiar with the Changing of the Guard, the elaborate ceremony in which soldiers outside Buckingham Palace swap places with those on the next shift. It’s a proudly British display of choreographed steps from Her Majesty's Armed Forces but is also common practice around the world at significant government buildings or state residences, and provides me with a convenient metaphor for a certain idiosyncrasy of the modern business world.
One of the major headaches our clients ask me to solve for them is the way they bill their outgoings.
By moving away from the old way, property managers are greatly reducing risk.
Software is fundamentally changing the world of property management. And whether you can help your clients adapt to automation will determine whether you deliver them real value, or not.
If you’re like most property managers, then you have more important tasks than you can keep track of. Improving your efficiency is a great idea, but is it actually possible? Yes: It is!
Commercial property is undergoing a digital transformation. The introduction of innovative technology is radically changing the industry’s 20th-century business practices. When the world around you is shifting, as it currently is for property management businesses, only by staying up to date with advancements in tech can you benefit from the advantages they provide. They say that the arrival of Big Data means big things for the industry, but what can property managers do with it?
We’re running a blog series talking to some of Re-Leased’s Property Management customers from around the globe, discussing some of their more interesting experiences that come with the job. Last month in Part One we heard about men in red underpants and rotting meat, this month we spoke with Mike Atkinson from Aspire Property Management.
By Vesna Wells, National Specialist – Property Management at Realestate.co.nz
As the student accommodation sector becomes a more dynamic and global business the strategic management of student accommodation facilities becomes even more important.
We’re running a blog series talking to some of Re-Leased’s Property Management customers from around the globe, discussing some of their more interesting experiences that come with the job.
Our CEO, Tom, recently wrote on LinkedIn about the idea that platform beats product. It is a concept that is becoming more and more popular throughout the entire property industry, but it is probably more relevant to the property management industry than any other. First, let’s draw some firm definitions: A product is single source solution, a walled garden with one gate in and one gate out. When using a product, a property manager is limited to the abilities and powers of just that one solution.
You have just bought a multi-tenanted commercial property. What are some key metrics to calculate to measure the performance of your portfolio?
Operating expenses (OPEX) has long been one of the most time-consuming aspects of a property manager’s role – made worse by the fact that a property software application has never been able to handle it effectively.
Cloud-based Property Management platform, Re-Leased, has partnered with Fixflo, the UK’s leading repair management software.
Re-Leased, a global cloud-based property management software company, bringing its innovative and design-driven solution to the UK market. Launched through a strong partnership with Xero, one of the fastest growing Software as a Service (SaaS) companies that offers cloud-based accounting software, Re-Leased will be introduced at Xerocon London 2018.