Assembling a robust real estate portfolio to support your core business requires adept execution of a clear strategy. Each property is acquired to serve a specific purpose within your organization. Their utility is vital to the health of your company — your portfolio will always hold a similar mix of properties. You’re not in the real estate business per se, but you will always want a finger on the pulse of the leasing market as well as manage your portfolio with the industry’s best practices.
So how do you keep track of it all? Here are some simple ways you can take control of your portfolio.
Abstraction is Key
It’s difficult to have a well-rounded understanding of your lease terms without a background in real estate law. However, coming to this understanding is important in order for you to fully realize your company’s growth potential. Overpaying your rent or paying for frivolous fees can eat at your bottom line — without you even realizing. Calling on a team of experts to dive into your lease so that all of the jargon can become easily understood will help you not only take control of your portfolio but also return dollars to your bottom line.
Hand Off the Administration
Lease administration can be a time consuming process that pulls your team’s focus away from growth opportunities and instead keeps them bogged down in minutiae. Despite requiring an involved process, lease administration is a vital tool to ensure the overall health of your portfolio. Being overcharged on your leases is not the cost of doing business. We’re all human and mistakes happen — but that does not mean you should have to pay for them. Lease administration services allow you to take control of your portfolio by freeing your team to focus on the acquisitions needed to help your business thrive.
Knowledge is Power
It’s true after all, the more data points you have to base a decision off of, the more likely it is that your choice will lead to a positive outcome. By working with a trusted lease management partner, you can have the confidence that can only be gained through reliable database management, accurate lease abstraction and steadfast lease administration. Having accurate data at your fingertips is crucial in both the acquisition and renewal phases. When you can quickly assess the information within a lease, you can make the right decision for your company’s financial health.
Your Trusted Partner
If you are ready to offboard the day-to-day effort of administering your portfolio, Scribcor is ready to be your lease management partner. You can rest assured that your portfolio is in the attentive care of a partner who is able to scale along with you. Reach out today to see what full service lease management can do for your organization.