Technology has become ever-present throughout every aspect of our daily lives and is advancing at an unfathomable pace.
It benefits us at work, at home and at play, seamlessly integrating into our everyday lives. Technology enables us to have an immediate stream of information, knowledge and communication, whenever and wherever we want.
We’ve become numb to the convenience of technology throughout our daily lives, but how has it impacted our professional lives in commercial real estate?
Technology’s Huge Benefit to Commercial Real Real Estate
When it comes to the relationship between technology and real estate, you may not initially assume that technology would greatly impact the real estate industry. With the U.S. commercial real estate market worth roughly $15 trillion dollars, there is no wonder that an ever-growing industry like technology has created a symbiotic relationship with commercial real estate investing and development.
There are many digital resources and tools that have made commercial real estate investing and managing easier than ever. Technology has made management simpler and more efficient by streamlining rent rolls and automated notices with software that makes collecting rent and monitoring payments much less work.
In this article, we outline our favorite digital tools that have been created to perform as highly efficient systems for commercial real estate.
10 Mobile Apps For Commercial Real Estate Professionals
1. AppFolio
This wildly successful mobile app is used for property management functions, has the ability to email work orders, owner statements, and keep record of communications. AppFolio makes property management quick, easy and always in reach.
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2. RentMonitor
Looking for a faster way to transaction rent with your tenants? This is the absolute easiest way to send rent invoices to your tenants and to collect rent. This tool includes a hassle-free portal that tenants can log into online to pay their rent using a checking account.
3. Visual Lease
Visual Lease is a comprehensive, powerful and easy-to-use web-based lease management and lease administration system. It enables real estate professionals to control, report and make decisions efficiently regarding their leases and properties. This app is accessible anywhere using Wi-Fi through your iPad, iPhone, or Android device or online at visuallease.com.
4. CoStarGo
CoStarGo, a powerful iPad app that allows commercial real estate professionals to access CoStar’s extensive property and market data, sales comparables and tenant information in a dynamic interface. This app is available to CoStar subscribers at no charge.
5. Property Capsule
Property Capsule is a cloud-based technology platform that helps you manage and present your CRE portfolio in real-time to potential investors or tenants using your iPad or other smartphone mobile device. Property Capsule offers many specialized tools that can be tailored to your specific needs.
6. LoopNet Commercial Real Estate Search
LoopNet Commercial Real Estate Search is the first CRE search app made for on-the-go devices. It is free with most listings available to view at no charge. To view all listings, a Premium Searcher subscription is required. You can filter results by price, size, property type, and/or location.
There is also a maps feature, which allows you to plot properties or email directions to the specific property. The LoopNet app also contains property records, owner and tenant information, mortgage and lender history and more.
Utilizing apps such as the ones listed above enables you to increase your productivity and stay up-to-date with the latest real estate technology. By having these tools on-hand you can stay constantly connected and more efficient than ever.
7. DocuSign
Do you ever need to sign and send contract, leases, or other important paperwork on the go? Most people are already familiar with DocuSign, but its mobile app is a must have. The DocuSign app is free to download, but require a subscription to access the app’s premium features.
This app allows you to upload important paperwork and email it to your team or client. It’s as simple as having them sign, and encrypting the data to secure it for online transfer.
8. REoptimizer
For commercial real estate investors, it’s imperative to keep costs low. With REoptimizer, it gives you a comprehensive cost overview and how they relate to the total portfolio. Though this is not a mobile app, it is a must-have for commercial real estate owners.
In the app dashboard, you have all your lease information in one area, and get a performance analysis of your whole portfolio. This app not only makes cost analysis efficient, it makes it simple.
9. RCA Commercial Real Estate Transactions Search
RCA is the first global commercial real property search app. The company boasts their global coverage, with the quote “from Manhattan to Moscow.” This app primarily focuses on real estate sales comps, refinancing, and trades. They offer you detailed data regarding specific transaction details including type, price, per SF, per unit, cap rate, and buyer, seller, and broker information.
The property types they cover range from office, retail, multi-family, hotels, development sites, senior housing, and industrial properties.
10. Catylist
The Catylist app is available for Android, Blackberry, iPad, and iPhone. This app aggregates commercial property and transaction information that allows users to browse using a map-based search system. This is ideal for on-the-go market research, where CRE professionals can get local information on demand.
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