Property management is more than just about your properties. Improve the value of all elements when you take the complications out of tracking and monitoring all the aspects of your portfolio with the asset management module in one system.
When it comes to asset management in the property industry, the focus is on the financials, not the bricks and mortar or tenants. When property and asset managers work together, the success of the project can be seen in the profit.
What is asset management?
In general terms, an asset manager looks after and increases the value of investments on behalf of somebody else. They often operate within the financial team of a business and specialise in specific markets, industries and sectors.
What is asset management in the property industry?
Every business has their assets, they can vary from buildings to machinery, products to people. This is no different in the property industry where assets can cover a range of aspects in a portfolio. From sites where buildings can be built to properties that can renovated or altered to increase financial opportunities. Also to include furniture and appliances within the building or even the occupiers.
Why is it important that assets are tracked?
Whether you are a landlord or an investor you need to ensure that all aspects in your portfolio are adding value to your business, not just now but in the years ahead. It is hard enough keeping on top of your tenants living in your properties, never mind everything else that you want to maximise the value of, also not see it deteriorate.
As an asset manger you also want to reduce costs and increase the return on what you spend too, which can be tough.
How can property managers and asset managers work together?
Properties as assets are generally purchased for investments only. This can include adding value to them as in renovation or as something that naturally increases in value over time. Any profit made is then reinvested in the next purchase.
The challenge that occurs in investing in property compared to other investments is the maintenance and upkeep required to ensure that value doesn’t drop.
How can asset management software benefit you?
Decorus for Sage is your ‘all-in-one’ property management solution, along with its advanced CRM and Sage 50-driven accounting engine, the additional asset management module gives you the tools to manage with efficiency.
The module tracks and monitors the details and location of your assets. Alerts can be created for warranty/insurance expiration dates, inspections or maintenance checks. Managing large sites brings enough challenges, keeping track of the whereabout of assets makes your job enough tougher but with everything in one system you won’t have any issues and you’ll save time which can be recycled to finding new opportunities for investments and business growth.
Manage your assets with Decorus for Sage software. Call 0114 2307305 or complete our contact form to see how it can work for you.
Decorus is unlike any other property management software solution on the market thanks to its powerful accounting engine, provided by Sage 50, the UK’s leading solution. This unique integration offers users the opportunity to have financials in a format recognised by over 90% of accountants without any additional data entry.
The software is flexible around the users requirements as it is available on the desktop or hosted on our cloud servers, giving the user flexibility to log in 365/24/7.