Maintaining a Commercial Real Estate
Business During COVID-19 - isn’t easy!

How Outsourcing Lease Administration Services Can Help Increase Productivity

Maintaining a commercial real estate business isn’t easy. Particularly during the age of COVID-19, where the vast majority of offices are closed and many real estate professionals are being forced to work from home, staying productive can prove increasingly difficult. With that in mind, below is a look at how outsourcing your lease administration services can help you stay efficient.

Read on below to learn more about some of the major problems that many real estate companies are facing during the pandemic and the ways in which outsourcing these services can benefit your company. Armed with this knowledge, you should have a good idea of whether outsourcing your lease administration might be the right choice for you.

The challenge facing commercial real estate companies during COVID-19

Put simply, while it is essential for most commercial real estate companies to work from home during the pandemic, being out of the office makes staying on top of lease administration services much more difficult. Working-remotely is a challenge for many real estate professionals, which makes it hard to manage day-to-day property accounting tasks in a timely manner. For many companies, this difficulty has resulted in a transaction backlog that needs to be effectively handled.

The simple solution to this problem is outsourcing lease administration services. By bringing in a partner who can provide end-to-end lease services while also optimizing the time, cost, and effort spent on these tasks, you’ll give your employees the ability to retrain their focus on providing your clients with operational excellence.

The benefits of outsourcing lease administration services

Now that you’re familiar with the significant roadblock that COVID-19 is creating for many commercial real estate companies, it’s important to take a closer look at the specific benefits of outsourcing lease administration tasks in the current work environment. To that end, we’ve laid out some on outsourcing’s biggest advantages as follows:

It increases efficiency

Companies that are “one-stop shops,” or that do everything on their own, often end up having employees cover multiple different job duties, often some fall where the employee is not the most well-suited person to be doing the work. By outsourcing, you can rest assured that an expert will be handling these tasks, which will cut down on the overall time and effort required to do the job.

It helps control capital costs

Cost-cutting may not be the main reason to outsource, but it should be a major consideration. Outsourcing helps convert fixed costs into variable costs, which can release necessary capital for investment elsewhere in your business and ensure that you’re able to put more capital directly into revenue-producing activities.

It helps you keep your data current

Too often, employees can get caught up in their day-to-day tasks and to allow lease administration activities to fall to the bottom of their to-do list. When that happens.data has a tendency to become dated very quickly, which makes it much more difficult to make accurate decisions for your business. By outsourcing your lease administration services you can ensure that you always have the most current data at your fingertips.

It helps you focus on the core of your business

Speaking of revenue-producing activities, outsourcing will ultimately ensure that you and your employees have the time and energy to focus on the activities that are most important to your business. Since you’ll no longer be concerned with having to manage some of these time-consuming-yet-essential property accounting services, you’ll have more freedom to focus on your core real estate offerings.

Is outsourcing these services right for you?

Ultimately, the choice of whether to outsource your lease administration services is a personal one. However, if you’re struggling to keep up your team’s productivity and efficiency in the current work-from-home environment, outsourcing could be the key to helping maintain focus on the important aspects of your business.

Ready to take the next step? Take a look at Springbord’s real estate services page to learn more about how we can help your commercial real estate business.