|
Functions Converge Through Portals Flexible Capacity for Transactions and Service Coordination
July, 2008
By Peter Altobelli
Secure, seamless conduits between a web site and operating databases - known as portals - offer a means to gaining selective real-time, point-to-point access to crucial business information and transactions. An integrated portal solution delivers numerous marketing and customer functions while simultaneously capturing data directly into a property management system.
Portals are highly useful to commercial property managers in several ways, including:
( Building calendars. Tenants can post upcoming cultural and entertainment events on building calendars, creating a sense of community. Calendars can also contain key information such as construction updates and fire drills.
( Concierge services. This marketing-oriented feature lets property managers increase revenue by advertising additional services ranging from package pickup to securing tickets to sporting events.
( Emergency portal. Activating an emergency portal is critically important in fires, floods and other catastrophes. They provide evacuation plans, shelter data and other important information, along with a message board.
( Green orientation. Portals support green initiatives by eliminating the costly storage and distribution of property management documents. Lease-specific documents can be uploaded securely for access by authorized users. Tens of thousands of investors can receive financial reports on-line. In generating a hundred-page report, how much time and money could the property owner save by avoiding production and mailing costs or the need to enlist third-party help in compiling such a document?
( Retail sales data recording. For retail tenants, portals eliminate the hassle of collecting sales data by giving tenants the "Input Sales Data" form. Tenants can enter their information on-line in seconds. This information is entered directly into the property management software system, streamlining the billing process by automating the percentage rent calculations and reconciliations.
( Security. Commercial property managers seeking to streamline entry procedures for visitors can activate the security pass application feature, which notifies the security desk and the guest of the date/time of visit and the type of identification required to enter the building.
( Space availability. Portals let owners and operators expose available space to the public or to selected brokers. Top-of-the-line real estate software packages transparently handle such back end tasks as options and encumbrances, ensuring that availability status remains updated. In addition, requests for space can be added to tracking applications that let managers assess their deal pipeline.
( Tenant ledger. Tenants with proper authorization can review their base rent, common area maintenance obligations and ledger information for the current month or any prior period.
For managers of multi-residential properties, portals can promote efficiency through uniting all participants - prospects, residents, employees, investors and service providers - in a common site.
( Automation. All communications and transactions, including accounts payable and accounts receivable, can be done automatically, cutting time needed for manual input.
( Fruitful collaboration. Vendors, owners and residents can each have a dedicated portal. A resident portal, for example, accommodates rent and bill payments, message posting, personal information updates, maintenance requests and other functions ordinarily performed by accounting, human resources and other departments. Gaining residents as collaborators this way promotes pride of ownership, which is as important in multi-residential properties as in commercial.
( Marketing. Driving the business's critical mass - residents, vendors, investors, employees, service providers, etc. - to portals offers an opportunity to deploy effective messaging for sales, services and other actions. Illustrating buildings and space/unit availability, giving prospects virtual tours, booking appointments and generating prospect records directly to a production database, in real time, are other examples of portals' utility as a marketing tool.
( Reporting made easy. Investors receiving financial reports can number in the tens of thousands. Using the example of a hundred-page report, how much time and money could property owners save by avoiding production and mailing costs or the need to enlist third-party help in compiling such a document?
( Resident empowerment. Portals give residents the power to pay rent, view ledgers, load work orders, access forms, manage documents, lodge service requests and perform a myriad of other functions quickly, at any time, with minimal paperwork.
( Service made easy. Service providers can go on-line to load invoices, bid on prospective jobs and check maintenance requests.
Portals can help residential and commercial real estate owners and managers attain competitive advantage, efficiency, customer service, environmental sustainability and return on investment. They can streamline operations and unify stakeholders.
Peter Altobelli is Vice President and General Manager, Canadian Operations, with Yardi Systems. For more information, see the web site at www.yardi.com.
|