10 Ways to Streamline Commercial Property Operations

Key Benefits

• 81% tenant satisfaction increase with property management software.
• Up to 30% savings on maintenance costs with preventive scheduling.
• 315% ROI from maintenance software.

These strategies combine technology and smart processes to improve operations, enhance tenant experience, and protect property value.

Top 5 Property Management Software for 2024 | Best Tools for ...

1. Use Property Management Software

Property management software can make running commercial properties much easier. The market for such tools, worth $5.81 billion in 2024, is expected to grow to $9.68 billion by 2030.

These platforms handle key tasks like payment processing - cutting processing time by up to 70% - while simplifying maintenance tracking, lease management, and tenant communication. With features like real-time maintenance updates, automated rent reminders, and digital document access, they help boost tenant satisfaction to 81%.

Here’s how to get the most out of property management software:

• Start with Essential Features: Focus on core functions such as lease administration and payment processing first. This approach helps teams adjust gradually while tackling critical needs immediately.
• Add Tenant Self-Service Options: A tenant portal can let residents handle tasks like submitting maintenance requests, paying bills, and accessing documents. This reduces admin work and improves tenant experience.
• Integrate Financial Tools: Connect the software with your accounting system to simplify financial management, avoid duplicate entries, and minimize errors.

A centralized dashboard provides real-time data, helping you make informed decisions about maintenance, lease renewals, and resource allocation. These tools not only simplify daily operations but also create a strong foundation for automating more rental and maintenance tasks, as discussed in later sections.

2. Set Up Automatic Rent Collection

Automating rent collection can simplify managing commercial properties. With 89% of Americans using digital payment methods in 2022, adopting an automated system is a smart move for property managers.

Why Automate Rent Collection?

• No more manual check deposits
• Fewer late payments thanks to automated reminders
• Reduced errors in payment processing and record-keeping
• Access to detailed financial reports for better decision-making

To get started, you’ll need clear policies and proper tenant onboarding. Here’s how to do it:

1. Select the Best Payment MethodsOpt for ACH transfers - they’re secure and reliable. According to Zillow's 2023 Consumer Housing Trends Report, 60% of renters already pay rent online, and 69% prefer digital payment options. This step helps cut down operational headaches.
2. Define Payment Policies ClearlyOutline and share your policies, covering due dates, grace periods, accepted payment types, late fees, payment confirmations, and security measures.
3. Set Up the System and Train TenantsMake sure the system is ready to go and that tenants know how to use it. For example, Steven Toth, a property manager in Tempe, Arizona, reported saving 5–9 hours each month after switching to automated rent collection. That extra time allowed him to grow his business and focus on other priorities.

Keep Security in Mind

• Use encrypted payment systems (like HTTPS/TLS)
• Enable multi-factor authentication
• Regularly audit and monitor for security risks
• Follow industry standards like ISO/IEC 27001

On average, property managers spend about four hours per month managing each property. Automated rent collection can cut that time down significantly, improving efficiency and tenant satisfaction. Plus, it works seamlessly with property management software to centralize control.

3. Create a Maintenance System

A well-organized maintenance system helps extend the life of equipment, lowers costs, and maintains property value. Follow these steps to build an effective system that improves day-to-day operations.

Start by creating a detailed inventory of assets like HVAC systems, elevators, plumbing, and electrical setups. This will make it easier to manage and schedule maintenance tasks.

• Set Up Preventive Maintenance Schedules: Develop a calendar for routine HVAC servicing, cleaning, inspections, and safety checks.

• Use Maintenance Software: Tools like maintenance tracking software can save up to 90% of technician time, deliver a 315% ROI, and improve communication between staff and vendors.
• Build Strong Vendor Relationships: Create clear agreements, track performance, and use competitive bidding to maintain quality service. For instance, Community First Developments Inc. successfully digitized vendor management in 2022.

Best Practices for Implementation

Consider advanced monitoring techniques like vibration analysis or infrared thermography to catch potential equipment issues early.

Lastly, assign clear responsibilities for maintenance tasks and reporting. These methods can easily integrate with digital tools discussed in later sections.

4. Improve Tenant Communication

Good communication is key to smooth operations and keeping tenants happy. It also builds trust, making tenants three times more likely to renew their leases.

Digital Communication Channels

Managing properties effectively means using multiple communication channels. Here’s a guide to handling different types of tenant interactions:

Communication Best Practices in Action

Bay Management Group, managing 6,000 units, keeps their eviction rate below 1% by focusing on structured communication.

Leveraging Technology for Tenant Interactions

Digital tools can simplify and improve tenant communication. Here are some ways to use technology effectively:

• Automated messaging for rent reminders and maintenance updates
• Tenant portals offering 24/7 access to communication records
• Mobile-friendly platforms so tenants can submit requests and get updates anytime
• Message tracking to confirm tenants receive important updates

Proactive Communication Strategies

Taking a proactive approach helps keep tenants satisfied and reduces turnover. Since tenants influence over 60% of the factors behind turnover, consider these steps:

• Send out regular property updates
• Notify tenants about maintenance work ahead of time
• Share news about community events
• Conduct satisfaction surveys periodically
• Host quarterly tenant meetings

Combining these communication strategies with digital tools can improve overall property management. This proactive method ensures smoother operations and happier tenants.

5. Install Smart Energy Systems

Smart energy systems can help cut costs and improve building performance by using IoT solutions for real-time monitoring and automated controls.

Key Components of Smart Energy Systems

These systems rely on several essential elements:

How to Get Started

1. Evaluate Current SystemsAssess your building's existing setup to find areas for improvement.
2. Run a Pilot ProgramTest the system in a smaller area to troubleshoot and refine the process.
3. Upgrade InfrastructureEnsure your building's network can handle IoT devices and their data needs.

These steps help establish a foundation for tracking measurable improvements.

Real-World Example

In Stockholm, a commercial office building used IoT technology to optimize its HVAC system. By automating temperature controls and adjusting for occupancy, they cut their carbon footprint by 25%.

Tips for Getting the Most Out of Your System

To keep your smart energy system running smoothly:

• Regularly monitor system performance.
• Train staff on how to use the system.
• Update software and firmware as needed.
• Review energy usage monthly.
• Adjust settings for seasonal changes.

Experts predict that by 2030, more than 75% of commercial buildings will use IoT-based energy optimization.

When choosing a system, look for features like:

• Real-time monitoring
• Compatibility with current building systems
• Easy-to-use interfaces
• Secure data handling
• Room to expand in the future

Smart energy systems are a practical way to improve operations while reducing energy waste. They connect digital tools with resource management, offering both immediate savings and long-term efficiency gains.

6. Switch to Digital Documents

Switching from paper to digital can simplify your workflows, improve data security, and reduce storage expenses. Digital systems make files easier to access, more secure, and cheaper to manage.

Benefits of Going Digital

Essential Digital Tools

• Document Scanning: Use apps like Evernote Scannable or CamScanner to digitize paper files.
• Cloud Storage: Store and access files securely with services like Dropbox or Google Drive.
• E-Signature Platforms: Platforms like DocuSign make signing documents like lease agreements quick and easy.
• Encrypted Sharing: Share sensitive files securely using encrypted links.

Implementation Strategy

1. Start with High-Impact Documents

Focus on digitizing documents that are used frequently, such as:

• Lease agreements
• Maintenance requests
• Invoices
• Tenant applications

2. Establish Organization Systems

Set up clear naming conventions, logical folder structures, and use searchable tags to keep files easy to find.

3. Set Up Security Protocols

Protect sensitive information by implementing:

• Encrypted storage
• Strict access controls
• Regular data backups
• Audit trails for tracking changes

Real-World Success

Important Considerations

Before making the switch, consult legal and accounting experts to ensure compliance with:

• Required retention periods
• Documents that must remain in physical form
• Regulatory requirements

Moving to digital documents complements the broader goal of improving operational efficiency.

7. Use Data for Better Decisions

Data analytics goes hand-in-hand with automated operations and digital tools, making property management more efficient. It helps you identify patterns, cut costs, and make smarter decisions.

Key Performance Metrics to Track

These metrics provide a solid foundation for deeper analysis.

Implementing Data Analytics

1. Start with Key Metrics: Focus on tracking vacancy rates, turnover times, rent collection, maintenance expenses, and energy usage.
2. Leverage Historical Data: Examine trends like seasonal occupancy, recurring maintenance issues, peak energy usage, and tenant turnover triggers.
3. Schedule Regular Reviews: Perform monthly financial reviews, quarterly maintenance checks, annual lease evaluations, and bi-annual energy audits.

Success Through Data

Managers who rely on data-driven strategies often see measurable improvements. Research shows that "80% of property managers who adopted data-driven strategies reported improved operational efficiency and higher tenant satisfaction within just one year".

Expert Insight

Following this advice, you can use data effectively to improve your property management processes.

Best Practices for Data Management

Centralize Information: Keep all property data in one secure, organized system for easy access and consistency.

Focus on Key Areas:

• Track maintenance and repair trends
• Evaluate vendor performance
• Analyze tenant feedback for satisfaction
• Monitor lease expiration patterns

Take Action on Insights: Use your findings to plan maintenance, adjust rental prices, enhance amenities, and improve energy efficiency.

Live Reporting Benefits

Real-time reporting simplifies tracking tasks, reduces response times, and sharpens performance monitoring, enabling faster, well-informed decisions.

8. Improve Tenant Screening

Tenant screening is a critical step for managing commercial properties effectively. A well-designed digital screening process can help minimize risks, improve efficiency, and ensure compliance with housing regulations.

Creating a Standardized Process

Use a consistent digital screening system to evaluate key factors such as credit history, financial stability, criminal records, landlord references, and income verification.

Digital Verification Tools

Modern tools can verify essential details in minutes, saving time and effort. Here's how automated verification systems handle key checks:

Best Practices for Commercial Screening

For an effective screening process:

• Set Clear Guidelines: Define approval and denial criteria that align with fair housing laws. Document these policies to ensure all applicants are evaluated fairly.
• Screen Both Business and Individual: For commercial properties, assess both the business entity and the lease signer. This dual screening approach offers a thorough risk evaluation and typically costs around $85.00 per screening.

Security Considerations

Protect applicant data by using encrypted systems that:

• Safeguard Social Security numbers
• Encrypt financial details
• Follow privacy laws
• Securely store application documents

Automated Follow-up

Automation can simplify follow-up tasks such as:

• Requesting missing documents
• Scheduling interviews
• Tracking screening progress
• Notifying your team when verifications are complete

With nearly 5 million households behind on rent in 2023, a robust digital screening process not only reduces risks but also keeps property operations running smoothly. This approach lays the groundwork for further operational improvements.

9. Add Mobile Property Inspections

Mobile inspection tools have made property inspections faster, cheaper, and more accurate.

Digital Efficiency Gains

Here’s how mobile inspections can improve efficiency:

Features That Simplify Inspections

These tools come packed with features like:

• Real-time photo capture with cloud storage
• Customizable digital checklists
• Automated emails for maintenance updates
• Professional reports with company branding
• Integration with property management platforms

Nathan Munz, Managing Director of Asset Management at Standard Communities, shares, "When we get reports from our management partners and we can see the inspection photos all in one place, it helps us make better decisions from afar".

Better Oversight from Anywhere

Digital inspections are especially useful for managing multiple properties. Demi Sterling-Kinney, VP of Operations at Aspen Heights Partners, says, "I appreciate how easy it is to see the quality of our inspection walks on thirty properties across the country, in real time, from my remote office in Austin... this tool was extremely helpful in maintaining consistency across the entire portfolio". These inspections also integrate with other digital tools to improve overall operations.

Save Time with Automation

When integrated with existing systems, these tools can automate tasks. For instance, Aspen Heights Partners saved 280 hours of general manager time by syncing their inspection platform with their turn board system.

Tips for Getting Started

• Use standardized templates for different inspection types
• Enable offline access for areas with poor connectivity
• Take advantage of photo annotation for detailed records
• Automate maintenance workflows
• Regularly analyze data to spot trends and improve processes

10. Update Access Control

Access control systems have become a cornerstone of security for commercial properties. With nearly 60% of organizations reporting physical security breaches, it's clear that effective access control is critical for ensuring safety and operational efficiency.

Benefits of Modern Access Systems

Today's access control systems offer a range of practical advantages:

Mobile-First Access Control

Using smartphones for access control adds an extra layer of security. Phones come with built-in security features, eliminating common issues with lost or stolen keycards while making access more convenient for tenants. These mobile systems also integrate with other digital tools, improving overall management.

Take Cox Communications as an example. In February 2023, they partnered with Ambient to enhance smart apartment capabilities. The result? Streamlined property operations and a better experience for residents, thanks to integrated access control solutions.

Steps for Implementation

• Evaluate entry points and areas needing high security.
• Choose systems that work with your current software.
• Schedule upgrades during off-peak hours to minimize disruptions.

Tips for Getting the Most Out of Your System

Access control systems not only improve security but also simplify daily operations. To make the most of your system:

• Use touchless entry points for better hygiene.
• Set custom access permissions for different areas.
• Track building usage with audit trails.
• Activate automated alerts for unauthorized access and update credentials as needed.

Advanced Add-Ons to Consider

Enhance your access control setup with these additional features:

• Video Integration: Sync access logs with security footage for a comprehensive view.
• Visitor Management: Use digital passes for guests and temporary access.
• Emergency Lockdown: Quickly secure the building during emergencies.
• Usage Analytics: Monitor how spaces are being utilized.

With 34% of companies reporting breaches due to unauthorized access, upgrading to a modern system isn't just about security - it’s about smarter, more efficient property management.

Conclusion

Improving commercial property operations enhances efficiency and creates lasting value. With the Property Management Software (PMS) market expected to grow significantly, property managers who adopt these tools are well-positioned for success.

Measurable Impact

Here’s a quick look at how these strategies can make a difference:

Real-World Success

Industry leaders emphasize:

Strategic Implementation

The results above highlight the importance of combining technology with process improvements. To achieve similar outcomes, focus on:

• Technology Integration: Use software to automate tasks and enhance tenant satisfaction.
• Preventative Maintenance: Schedule regular maintenance to safeguard property value.
• Data Security: Employ encryption and strict access controls to build trust.
• Tenant Experience: Maintain open communication to ensure high occupancy rates.

Related posts

• How to Automate Rent Collection: A Guide for Property Managers
• 7 Essential Property Management Software Features for 2025
• Ultimate Guide to Tenant Communication Platforms
• Best Practices for Automating Maintenance Requests