In commercial real estate (CRE), asset management is a crucial function for any firm, whether it’s a small organization or a multinational business. Effectively managing your assets can directly impact profitability, efficiency, and overall success. To ensure that your CRE asset management team is operating at peak performance, it’s essential to have access to data and reports that enable you to keep a close eye on exactly what is happening in your portfolio now and in the future.
CRE asset management software, such as Lobby CRE, empowers you to select from more than 700 key performance indicators (KPIs), enabling you to monitor the metrics that matter most to you. Customize your own thresholds and receive notifications of any fluctuations, such as reductions in Net Operating Income (NOI) or upticks in notice to vacate. Gain real-time, visual insights into how your assets compare to the current market conditions.
With access to these types of metrics, you can scale your reporting efforts and equip your firm with easy, quick access to data that you can actually use to safeguard your portfolio.
Keeping a Pulse on CRE Asset Management
Maximization of Cashflow and Returns
Effective CRE asset management involves optimizing your property’s performance to maximize returns. Without real-time insights, you may miss opportunities to boost cashflow, such as adjusting rental rates or reducing operating costs.
Risk Mitigation
Identifying and addressing potential issues early on is key to mitigating risks associated with managing your CRE assets, like tenant delinquency and low vacancy. Regular monitoring can help you spot maintenance needs, lease expirations, or market trends that might impact your portfolio.
Strategic Planning
Informed decision-making is the cornerstone of strategic planning. Dashboards and reports used for monitoring and tracking portfolio performance and forecasting your next step can provide the insights you need to proactively set realistic goals, allocate resources effectively, and adapt to changing market conditions.
Making Informed Decisions In an Ever-changing Market to Improve Portfolio Performance
Informed decision-making is important for commercial real estate asset managers today due to the rapidly evolving and competitive nature of the industry. With fluctuating market conditions, changing tenant demands, and ongoing economic uncertainties, the ability to make data-driven choices is key to success.
Real-time insights can help you identify the best next step and use this information to take meaningful action. For example, as transaction volumes and property valuations decrease, CRE firms can monitor and track their properties performance to gauge how they stack up in comparison to similar markets. Using this information, you can then assess opportunities to improve your portfolio. Internal and external benchmarking lets you compare and evaluate property data to visualize portfolio ranks and make more informed decisions about your portfolio.
Ultimately, being well-informed allows asset managers to adapt swiftly, capitalize on opportunities, mitigate risks, and stay ahead of the curve.
Using CRE Dashboards and Reports to Make Better Decisions
Dashboards and reports for asset management are powerful tools that enable you to visualize and analyze crucial data related to your CRE assets. This data can include information about occupancy rates and income and expenses. An asset management solution, like Lobby CRE, can pull in and analyze data from multiple disparate internal and external sources. This type of functionality scales your reporting efforts and equips your firm with easy and quick access to high-quality, accurate financial reporting.
Here’s how asset management software can help you stay in control of your CRE asset management:
Real-Time Insights
The dashboards in an asset management solution like Lobby CRE offer real-time data on key performance indicators (KPIs) such as delinquency rates, NOI, and operating expense ratio. 24/7, real-time access to this information allows for immediate action when necessary. Tailor your dashboards to display the metrics that matter most to your specific goals and objectives.
Historical Analysis
Asset management reports enable you to analyze historical data trends. By comparing performance over time, you can identify patterns, identify opportunities and risks, and make data-driven predictions to inform future asset management strategies.
Check out these key strategies CRE Asset Managers can use to assess portfolio performance. Download the checklist now!
