2016 – The Year for Commercial Property
Another year, another trend in the property market. As legislations have been brought in to tame the residential lettings market many investors have looked elsewhere. Managing different types of portfolios can bring in new challenges, using commercial property management software will not only increase efficiently in the day-to-day running but it will also increase income now and into the future.
According to leading commercial property advisors CBRE there has been £70 billion invested in commercial property over the past 12 months. They are predicting that this trend will continue until at least 2020, as long as the economy remains stable.
Life after the bubble burst.
Since the property market recovered London has seen an influx in foreign investors ploughing money in however this has started to slow down. London prices hit a premium last year as buyers cooled off whilst the imminent EU Referendum has caused uncertainty for the business, adding to a decline in value.
Leaving London behind.
Previously investors, mostly from Asia avoided buying anywhere outside of the M25 however the spotlight on the ‘Northern Powerhouse’ has opened up new markets and opportunities. Manchester is booming since the BBC moved to Salford Media City and many other businesses have followed whilst the controversial high-speed train line is being built to bridge the north – south divide.
The UK is adapting to new technology advancements faster than any other country in the UK and it is spreading across the country. It isn’t just Manchester that is benefiting from commercial investments, Sky are moving to Leeds whilst Sheffield and Birmingham are evolving too.
With more opportunities to invest in non-residential properties and a higher return it is important to manage your portfolio effectively to ensure that all possible income is retrieved.
Managing a commercial portfolio requires more skills than your typical residential.
If you are a landlord or letting agent for residential property your main goal is collecting rent from your tenant and ensuring that the property they live in is well maintained.
Residential property managers look after the non-occupied areas of a buildings (external walls, hallways, car parks).
Commercial property managers often take on the whole lot. This means that a wide-skill set is required to manage a portfolio successfully as rents needs to be collected, buildings insured and maintained whilst the ROI remains strong.
Solution to your problem.
If you find yourself short of time, unable to complete your duties to budget or struggle to organise the way you work then you could benefit from having a system in place.
Software for Commercial Property Managers
Decorus for Sage is a highly sophisticated property management software solution capable of simplifying even the most complicated commercial portfolios.
The CRM is included to log all the information relating to your portfolio, the link with Sage manages financials seamlessly, helping to maintain the properties more efficiently and the benefits will be felt all round.
Book an online demonstration of the only commercial property management software to integrate with Sage to see how it can work for you set-up.