What is meant by Real estate management?
"Real Estate Management" refers to the administration and organization of real estate properties, whether residential, commercial, or industrial. This includes various tasks such as leasing, sales, maintenance, accounting, lease management, facilities and asset management, as well as compliance with legal and regulatory requirements.
Typical functions of software in the "Real Estate Management" area can include:
- Property management: Capturing and managing information about properties, including location, size, condition, and amenities.
- Lease management: Managing lease agreements, rent payments, tenant turnover, tenant inquiries, and lease terminations.
- Financial management: Tracking income and expenses, accounting, budgeting, and financial reporting for real estate portfolios.
- Maintenance and repair planning: Planning, executing, and monitoring maintenance work, repairs, and renovations for properties and facilities.
- Tenant communication: Providing communication channels for tenant inquiries, announcements, notifications, and feedback.
- Leasing and sales: Marketing vacancies, conducting viewings, negotiating lease or sale agreements, and managing the relocation process.
- Compliance and legal compliance: Ensuring compliance with legal regulations, tenancy laws, security standards, and environmental regulations related to real estate.