Why Automated Lease Management Should be Your Airport's Next Goal
When your staff has dozens or even hundreds of agreements to maintain, the requirements of tracking invoices, payments, utility billing, maintenance requests, insurance documents, and waitlists can cripple your team’s efficiency and productivity.
Cloud-based lease management software optimizes the revenue that your airport receives from tenants, vendors, and FBOs. Automating rote tasks like lease status changes, insurance management, and billing can save your team time and effort, freeing airport resources to handle other vital tasks.
Long-term and Short-term Benefits
Investing in new software sets your airport up for continuing success, but what you invest in is critical. Pay attention to cost, software delivery, customization, and the ability of the software to integrate with other products you may be using.
As new challenges arise, flexible, modular software makes it easier to implement new practices and streamline old ones. Even better, working with a responsive software provider, or choosing software as a service (SaaS), can prime you and your airport to receive updates and new features that keep your airport on the cutting edge.
The rise of SaaS and browser-based software allows you to use a new system without needing to install new programs. Simply open the link in your browser, log into the application, and begin working. With cloud-hosting and accessible utilities, you can take advantage of business support software from anywhere with an internet collection.
Timely Rent Collection
Tenants can log into their account and pay rent online, increasing responsiveness and allowing your team to quickly and easily reconcile accounts. Late fees can be automatically applied, and your team can use reports to quickly and easily round up tenants who are late on rent and not in compliance with their lease.
Maintain Insurance Records
Insurance compliance is another immediate benefit to your airport. Set required insurance for tenants, and easily track insurance status, from approved, to expiring soon, to expired. Require document uploads and set fees and penalties for tenants who fail to provide current insurance certifications.
Asset-based lease management uses properties as the foundation of your leasing program, allowing your team to analyze property use over time, update rental rates, and assist in recognizing the type of property in demand, and help guide decision making for new development.
Reports and Auditing
Reporting is only as good as the data collected. The ability to create reports that answer management questions about return on investment makes it easy for your team to track essential statistics from revenue reports, to insurance compliance reports, to property statistics. Exporting records as PDFs and excel files with a click can cut down on hours of work spent gathering files and records and providing clear, understandable data for decision making.
What to Look For
How do you decide which product is right for your airport and your unique needs? With the time and expense of implementing a new system, you want to select the right system for your needs, with a responsive, experienced software developer. When researching options, pay attention to customization and integration, and on-going support.
Highly configurable software puts customization controls in your hands. Once the system is implemented, your team has access to key settings that make it easy to adjust rent rates via CPI or fixed amounts, insurance requirements, notifications, reporting criteria and more.
Browser-based software makes it possible for your team to access the system from anywhere with an internet connection. Not only does this decrease installation requirements, but it empowers you and your team with unparalleled accessibility. Secure logins protect your data, while giving you the flexibility to work from home and on the go.
Most software providers will provide limited implementation assistance. The RevJet support team works with our clients to upload personalized data, customize your module settings, and train your team to use all aspects of the software, from changing settings to creating templates to generating reports.
RevJet360 has implemented integrative modules for our airport clients, supporting airport managers with access control, badge management, ground vehicle permitting, and more. Our newest offering is a flexible, configurable lease management module, designed to improve your ROI, support your rent collection, document management, tenant services, and property management.
Save time and streamline your lease management with asset-based lease management, comprehensive data tools, powerful reports, and automated status changes, notifications, and billing.
To learn more, reach out to our team via phone, email, or our contact form. We’d love to give you a full demonstration.