8 Value Based Questions for Real Estate Management Software Solutions [ebook]

Table of Contents

Real Estate Management in SAP

 
Whether you’re a CFO or an engineer working on ‘Green Building’ certification, such as Leeds, you most likely are exploring Real Estate Management Software solutions
 
Learn the value proposition questions answered by SAP REFX Land Use Management (LUM) Real Estate Management Software for Property Managers and CFO's
 

In our experience, we find the following questions keep popping up, especially with regards to land management:

 SAP REFX Land Use Management (LUM)

 Typical Land Use Management Dimensions

 

Common Land Use Management Questions

 

  1. Do I have a complete and accurate electronic database of all my properties;

    Properties including all Land and Buildings.

  2. Do I have complete and accurate information on all encumbrances on these properties?

    Encumbrances such as:
      Easements
      Right of Ways
      Government Permits
      Site Protection(Wet Land)
      Development Planning
      Site Contamination & Remedial.

  3. Do I have a complete and accurate inventory of what I own or what I operate?

  4. Do I have a complete and accurate view of the financial responsibilities I have related to the encumbrances on my land or buildings? 

    These could be either payables or receivables.

  5. Do I collect on time or do I pay on time my land/buildings related obligations?

  6. Do I know which mortgage I have on which property and with which bank or banks?

  7. Do I have complete and accurate Property Tax information?

  8. Do I have complete and accurate information on my Joint venture based on each property?

 

Financial Impact Of Getting The Answers To These Question Wrong

 

You might notice that most of these types of issues ultimately lead to some sort of financial impact

Many people believe that such information is already well known and documented.

As it happens, I have an aunt who only recently discovered that her property line was not where she thought it was and in fact, she owned more land than she knew, but in a different place than she thought. 

 

Some of that land had somebody else’s house on it!

 

Tracing back through the manual records, the error was ultimately traced to a survey mistake made almost a century ago.

Mistakes In Real Estate Records Happen Everywhere

Such mistakes exist across the country and indeed, around the world.  Now, she had no need of electronic Real Estate Management Software, such as SAP ERP real estate management software, however, the county where that land was located needed it, as they depend on accurate records for tax collection, zoning, and other uses.  

If you expand this problem out to major property owners, such as REITs, or Real Estate Investment Trusts, who may own hundreds or thousands of properties, which they constantly buy, sell and renovate, accurate, digital Land Use Management software functionality becomes a business critical item.

 

An entity such as a REIT has a requirement to pay out, accurately, a very large proportion of it’s income every year (90%+_) in the US and getting that number wrong can result in some very severe financial penalties. 

Wall Street Blueprint

 

Maximizing Net Operating Income (NOI)

 

In order to get the number right, while maximizing the Net Operating Income (NOI) on their property portfolio, they need accurate information available to them on a moments notice. 

Real Estate Software Consultants

This is where the integration of GIS systems, Business Intelligence Systems, and SAP REFX (SAP Flexible Real Estate), can be used by real estate software consultants to deliver maximum value to all stakeholders.  SAP ERP for real estate developers provides real estate cost planning software solutions and other real estate ERP modules that support the full real estate lifecycle. 

 

SAP Disclosure Management

 

If you really needed to, you could use SAP Disclosure Management to ensure your REIT filings were on time with the government. 

 

By the way, did you know 846 late-filing notices had been filed in just one month (Nov 3-Dec 1 ’09) according to a recent SAP scn blog article.

 

Compare Real Estate Holdings in Different Areas Using Software

 

One of the key functionalities required by major property owners is to be able to compare holdings in one area with holdings in another area. 

These comparisons can include:

  • Property Tax Rates (millage rates)

  • Location Attractiveness (can be done with user defined parameters, such as employment rates, walkability, crime rates, climate)

  • Past Project Performance

  • NOI and Cap Rates.

 

Real Estate Software Consulting

 

To learn more about the value proposition of the Land Use Management (LUM) module of the SAP REFX solution, just press the button our SAP Real Estate Software Consultants have prepared on the subject.

 

 Discover The Value Proposition For SAP  REFX-Land Use Management

 

 

If you like what you read here, please share this with your network.  We really appreciate it.

 

People who read this also read these:

How to set the scope of your SAP REFX Project

How to Take Charge of Your Real Estate with SAP REFX

 

 

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Lonnie Ayers

About the Author: Lonnie Ayers is a Hubspot Certified Inbound Marketing consultant, with additional certifications in Hubspot Content Optimization, Hubspot Contextual Marketing, and is a Hubspot Certified Partner. Specialized in demand generation and sales execution, especially in the SAP, Oracle and Microsoft Partner space, he has unique insight into the tough challenges Service Providers face with generating leads and closing sales using the latest digital tools. With 15 years of SAP Program Management experience, and dozens of complex sales engagements under his belt, he helps partners develop and communicate their unique sales proposition. Frequently sought as a public speaker in various events, he is available for both inhouse engagements and remote coaching.
Balanced Scorecard Consultant

He also recently released a book "How to Dominate Any Market - Turbocharging Your Digital Marketing and Sales Results", which is available on Amazon.

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