Tuesday, August 25, 2009

Budget Preparation - What Tools Are You Using?

As budget season is upon all of us, the rental and condo market is inundated with marketing messages from vendors promising a savings in money. In this economic climate, perhaps there is no stronger message. Yet like many preoccupied with turning red numbers to black; many managers, board trustees and board members "don't have time" to explore a professed money-saving product. Time is exactly what we all need and what we need to save, in addition to the dollar.

In the July/August 2009 Issue of CAI's Common Ground, there is a very concise article on preparing the budget for your community with tips on how to be efficient, like; allow ample time, do your homework, establish priorities, keep homeowners informed, or be flexible. While this is valuable information for one's budgeting, it's also a valuable mantra to your community's operations and communications. In fact, the more often buildings and communities focus on efficiency in their day-to-day operations, the easier the entire budgeting process can become.

There aren't too many tools that focus primarily on streamlining and organizing communication and operations in a property. We've all heard of programs or software that tracks leasing, or deals with accounting, or manages rent payments. While these can be essential to any property, too-often communities rely on sticky notes, binders, clipboards, Outlook...or even just their memory.

In 2001 with the innovation of BuildingLink, came a new and robust platform in the residential property management scene. Now operating in over 800 buildings worldwide; supporting millions and millions of tracked tasks, recorded packages, work order logs, condo documents, intelligent records and graphs; BuildingLink has become a de-facto standard in many of the top properties on the market. For example, you can't hop on the Craigslist's housing section, without seeing some rentals or condos with a "automatic package notification system." That's BuildingLink.

Moreover, this new kind of web-based tool as streamlined accountability for any board--high rise, low-rise, town home. In a matter of seconds, a board member could easily pull data on the daily operations in their own community--answering budget questions that could save their community thousands of dollars.

As we move into the budgeting climate for 2010, consider utilizing a tool like BuildingLink and streamlining not only your cash flow, but the time you save in crunching those numbers.

Friday, August 21, 2009

Property Management Software: Linking the Manager, Staff and Resident

Whether you are a new full-amenity condo, a traditional co-op, or a modern and busy rental building, you'll probably want to invest in operations management software. Not to be confused with an accounting package, online rent payment processor, or leasing software; operations management software enables a unique link between the daily operations of your staff and the residents of the community.

For example in BuildingLink, the platform's web-based system enables management and staff to run the daily on-site operations in an integrated and efficient manner like never before. A smart database, housing an unlimited amount of your community's desired data, BuildingLink will provide all users - both staff and residents - with an easy, logical and enjoyable interface. The online tools will handle all day-to-day communication, record-keeping, and task tracking needs.

Utilizing a host of customizeable automatic notifications, BuildingLink can keep everyone in a building on the same page like never before. Instead of phone tag, email chains and misplaced sticky notes, operational management software like BuildingLink, eliminates extra time spent, miscommunication, and inefficiency because the BuildingLink system is so flexible--it can be configured and customized for any community.

While accounting software and leasing software are essential to this industry, they can't replace this new kind of technology: devoted to the operations of a community. Feel free to contact the innovators of this web-based tool, now used in over 800 buildings worldwide. Contact BuildingLink.