Property Management Companies can now use Property Lease Management for NetSuite
The beauty of a best of breed enterprise systems, is that time has been spent developing the out-the box end-to-end processes so that it fits into pretty much any sector and any size of business. NetSuite is that kind of software. I’ve sold a 3 user NetSuite into £0.5m turnover family run business and a into a £0.5bn multi-national, multi-entity enterprise. It worked beautifully for both.
If you’re in the property lease management business and you want to move your systems to the cloud to benefit from automated compliance and reduced manual effort and input, you might have reviewed NetSuite but decided it didn’t quite fit the bill. Think again! CloudTamers’ has developed a SuiteApp “Property Lease Management for NetSuite” specifically for you.
Designed for property management firms, the Property Lease Management for NetSuite App is essential for any company which needs to lease property, rooms or ancillary equipment and services. Built entirely within your NetSuite system, it adds the deep lease management functionality to the financial accounting expertise of core NetSuite. Empowering you to manage inventory, enquiries, self-service reservations, leases, bookings and calendars, when combined with core NetSuite it gives you unrivalled functionality.
Simply put, you can run your NetSuite finance, project and case management functionality, as well as your lease management inside a single, unified system. The output is powerful reporting based on real time information.
How does it work?
Everything pivots around a custom space record. The space record contains vital information about your property space including geo-location, parent and child spaces, assignment bookings, square meterage/footage, associated customers/tenants, associated cost centre, transactions and images.
From the space record you can link through to the tenant, contract, related transactions or projects (for facilities management).
Our booking contracts are templated. You can upload as many contract templates as you wish. The templates will automatically pull through the fixed term clauses that should be applied, meaning you only need to change the variable clauses (such as tenant and term length). The output can be extracted, using a piece of third-party software, onto a PDF which consolidates images and text into a single contract to be sent for e-signing.
Multiple Billing Calendars
Whether you work off ground-rent calendars, academic terms or hijri calendar, our software can reconcile your billing periods to your accounts and apportion the money correctly.
You will also benefit from a booking calendar which will highlight booking clashes, availability and soft optioned rental assets. You can search by date, booking group or bookable assets.
The real reason why you want to move all your software to a system like NetSuite is to benefit from the powerful reporting you get form having all your departments working from a single system. Your KPIs can range from occupancy metrics and values to property profitability.
View how much square footage is let versus what is available. Or review the price per sqm of each of your properties. Watch the impact on your GL accounts or in your P&L, in live time.
As well as all the rental and leasing management, our Property Lease Management for NetSuite is designed to handle all your facilities management. Preventative maintenance projects can be set up to drive activity for the regular maintenance of a building or property. Bundling up all the relevant tasks in the right order and serving them to facilities managers at the right time you can ensure the integrity of your properties and keep up with legislation around building maintenance.
Similarly reactive projects can be set up inside the system – starting even at a tenant raising a case from a portal or by phone or email. Route the request to the relevant person at the right time to ensure timely action.
Don’t take our word for it, here’s what our customers say:
“From scheduling a phone call to tracking occupancy statistics; issuing a customer survey or reporting P&L by tenant business sector, CloudTamers has supported us every step of the way” –
Finance Director, Plymouth Science Park.
If you think you’d benefit from using Property Lease Management for NetSuite or you’d like to see a demonstration of the software, please get in touch.
Written by Emma Stewart – Sales & Marketing Director at CloudTamers