An efficient real estate management software can be a lifesaver. MRI and Yardi are easy to integrate into your existing CRM systems. An automated onboarding system can save you hours of work while providing you with error-free results.  A system like this, which is accurate and quick, also breeds confidence from your client. They are more likely to get on board with the deal after seeing how professional your setup is. 

MRI  

If you are looking to streamline your property onboarding process, you needn't look any further than this. MRI Rest Professional is one of the best management software for real estate.  

This system manages ownership change by emphasizing inspections for portfolios, strategies, or finances. The system helps you manage deposits and investments accounts and store the vendor's details in one platform. It also keeps all relevant documents in REST Professional for more efficient filing. This software boasts highly developed sales management as well.  The software also excels in reporting, helping you optimize your portfolio. You can rest assured that the most current information backs your data from the latest vacancy rates to profitability. 

Yardi 

A bonus of using Yardi is that it gives you free access to RentCafe. RentCafe lets you rent out your property to tenants via a safe and verified platform. As a result, you can put it on the market as soon as the property is legally yours. 

Transferring new property information into your existing database is complex work. Data migration involves the shifting of all property-related files to your current system. Such data includes amenities, floor plans, vendors, type charges, tax information, and more. If not executed properly, you can lose a lot of essential data.  

The details of the new property can be transferred in two ways when using Yardi. The first is a manual transfer where you load the property portfolio into your existing platform via an ETL. The second method lets you move this data electronically via a Yardi to Yardi conversion. Configuration to third-party apps or even Yardi tools follows this procedure. 

Getting help from a reliable firm is an excellent idea if you happen to be using Yardi for the first time. These professionals have a lot of experience in data migration and can help streamline your onboarding process.  From tuning settings to integrating the new property into your media library, these firms are sure to lend a high-quality finish to your work. 

Outsourcing onboarding processes has a lot of advantages. Your business benefits from the in the following ways 

If you plan to make a huge acquisition, you can do it with some extra help. Getting a reliable consultation firm to collaborate with can improve your onboarding experience by leaps and bounds. 

Years of Experience 

These companies are highly experienced, with years of knowledge in property acquisitions. Their involvement ensures the quality of professionalism of all your contracts and transactions. A partnership with such firms also gives you valuable access to necessary software. These companies provide a variety of services for real estate businesses. 

Lease Abstraction 

Among these, property management is a prime sector. Contracts play a crucial role in all property dealings. Therefore a lease abstraction software is almost always one of the services they offer.  Such a system lets you distill your contracts to their vital points.  

A lot of property contracts are written in legal language. Such a document is difficult to understand, even for a real estate business person. The software works to simplify the lease into concise, easy-to-understand points to make it accessible for both you and the other party. 

Lease Auditors 

These consulting firms are also professional lease auditors. The term 'auditor' here refers to a thorough lease review. All contracts are bound to have loopholes and some vague language in their clauses. Such a gray area makes it vulnerable to misinterpretation. Any of the two parties can take advantage of this vagueness later on. 

But you can avoid such a problem by partnering with the right firm. The Assetsoft team has experience in lease auditing. We check all existing documents and verify the contract clauses. With our help, you can get onboard a property deal without fear of the transaction falling through later. Want to know more? Talk to us today! 

Housing crunch  

The world now stands at a 7.9 population and it is increasing by the moment. If floating cities can be a valid enterprise real estate option then housing the rising population can be combatted. The world leaders are worried about the population explosion and the lack of sustainable real estate to house these people.  

Decreasing coastlines  

Research studies show that more than 410 million people are at a risk to be uprooted due to rising sea levels. If there is no action taken against global warming then these events are likely to become more aggressive.  

Saving at-risk people from climate crisis - Till 2020, as many as 40.5 million people had to move homes due to climate change and rising water levels.  

Though we have learnt that floating cities were backed by the UN, do we really understand what this means? 

They are essentially modern tech-based sustainable cities on the sea. They are supposed to be self-sufficient and adverse climate events resistant at the same time. All prototypes of a floating city believe that they will be independent and self-governed habitats. But they will not actually float around on the water, they will be static at one place.  

The plans of making this 10,000 people floating city off the coast of Busan has now started off. As per reports and Oceanix creators, this city will be flood and earthquake resistant. The Oceanix owners, UN-Habitat and South Korea reached an official agreement on the matter.  

It is now only a matter of time before we find out if these prototypes of the floating city are viable in the real world or not. As this is the first of its kind, there is no way any number of scientists can predict what the future holds. 

As Busan is threatened by the rising global sea levels, the first real prototype of the project has been sanctioned here.  

If you are a real estate business person then a floating city is sure to intrigue you. Even if you are not a part of this utopian concept it is sure to pose some serious questions for your real estate. What are people looking for in floating cities?  

That these cities are sustainable and eco friendly. Then these are the same questions you need to ask about your own real estate business. These are important questions that tech-savvy millennials are posing. Floating or not, the future property buyers want environment-friendly housing. You need project management best practices implemented to find answers. 

Here good strategy and leadership will help you find plausible solutions. As many as 83% of millennials said they want sustainable housing. If that is some number to go by then you need better property management, home building and construction to cater to these demands. 

There is genuine concern among a group of scientists is that the idea of floating cities might be a quick fix to a bigger climate crisis. They are of the opinion that it is like putting a small band-aid to cover a bigger wound. Though floating cities might be sustainable in themselves, it does not solve the rising water level crisis.  

Even though the UN showed support to the idea of a floating city they still had questions about its cost-effectiveness and feasibility. The whole idea is pretty new and is yet to get to its full potential. Till then it is all about waiting to see the launch of the first floating city. 

Now, floating city plans might still be a little way out. But if you’re looking to manage your properties better, there is nothing wrong with taking inspiration from sustainability. Or, knowing how to manage your assets better.  

At Assetsoft, we can help you choose the right property management software for your business. Our Yardi consultant experts know your real estate business in and out. We can help you implement the best strategies for property management. Integrate all your services under one platform, automate tasks and make tenant management easier. Talk to us today!  

The Canadian hospitality market kept hoping for a resume in corporate travel but statistics show otherwise. Market data shows that weekend hotel bookings are much higher than on weekdays. Weekend travel is mostly dominated by leisure travellers. Weekday bookings are banked on corporate companies and work-related travel. 

With two sets of COVID waves, the delta variant and omicron, the work travel is at a constant low. But it is also noteworthy that though the number of work trips has reduced, the duration of these trips has increased. Companies are practising this to get maximum work done in single trips. This trend has given some boost in the dipping market. 

In the growing age of technology-based solutions to business and life problems, travellers expect you to provide them with quick solutions too. You need to optimize your assets in order to come out stronger on the other side of the pandemic.  

Use of AI - 

From the use of algorithms to customise travel plans for your customers to conducting digital assistance, AI can do more than you think. As a real estate property management owner, you need an assistive technology implementation plan to smoothen the process. The pandemic may have already taken a hit at your business, do not let technology hold you back even more. 

Companies like SkyScanner and Booking.com are using their chatbot services to change the game. They are using AI to offer their customers a personalised experience. 

At Assetsoft we make this process seamless for your business. From helping you choose the right real estate property management software for your business to property management, we are here for all your needs. Our holistic approach to organically incorporating technology into your business will give it the right push it needs. 

Promoting combined work & leisure stays - 

Employees across the globe have become highly mobile due to remote work. People are now indulging in workations. You need to tap into this market and promote your business as a dependable workspace as well as a reliable leisure provider. You need to blend the best of both sides of the hospitality industry to understand the present market trend.  

Data analytics - 

You will find endless market data on the hospitality industry. It is not cost-effective for a human to process this. Your business needs technology to make this faster and error-free. From finding what services worked best with your customers to finding booking trends, you can get all of it in a click. Contact the Assestsoft team today to get started and take the first step forward.  

Big stakeholders in the market like Booking.com and many more are already using Data analytics to conduct their daily business. You need to rethink your project management processes to imbibe these essentials at the quickest. 

It is unclear as to when business travel might return to a pre-pandemic state. The world has reached a state where people and businesses are learning to work with or around the pandemic. Your business needs to get on top of this trend to make it boom. The hospitality industry is grilling under the pressure of the pandemic but there are some changing travel trends to look forward to. 

But effective strategy and leadership can make better use of the available resources to better business. You can onboard business support service providers to optimize your available assets. 

The Assetsoft team can guide you in better asset management, property management and customise strategies for all your business needs. Our experts can help you work with Yardi project management system and MRI services and provide you with the right set of tools to streamline your business. Contact us today to know more. 

Not all news from the travel industry is bleak. Here are some hospitality business data to inspire you for a better tomorrow. 

The postwar aggression between countries has only helped in the rapid development of the drone project. The Israeli Tadiran Mastiff, first flown in 1975, is the precursor to the commercial drone. It used a live video-streaming and data-link system for real-time surveillance. These features form the basis of many modern crafts. 

Today, we use drones for a variety of non-aggressive purposes. Innovations in energy and AI have gone hand in hand with drone development. As a result, there is a rapid increase in the commercial and recreational use of these machines.  

Drones: Present Day 

Today, they are utilized in everything from aerial photography and mapping to rescue missions. In fact, the global UAV market is expected to grow to a whopping $11295.1 billion by 2028.  The Covid 19 pandemic has spurred the growth of drone companies like Percepto. As the world changes, consumers also find newer ways to deal with these upheavals. Companies like these are helping customers find these new solutions. Therefore it is no surprise that Percepto is included in the list of 2021 CB Insights AI 100 Most Innovative Artificial Intelligence Startups.  

Using drone tech to meet your surveillance needs is an excellent way to get on with the changing market. You are free to monitor your assets from the safety of your home without risking your health and your staff’s health.  

Aside from the reduced risk of infection, you can benefit a lot more by implementing a drone system in your business. These machines boost your inspection capabilities because they can quickly fly beyond the visual line of sight. Implementing such a system reduces the risk of injury to your manual workforce. It can also save you a lot of trouble ferrying surveillance equipment from one point to another. 

Here are other ways how a drone can help your business in a property inspection. 

You are the person most familiar with your property and know it like the back of your hand. Aerial drone inspection plays on this by actively making you a part of the inspection process. You receive live footage of your property. You can also direct the drone to any suspicious/vulnerable-looking area for a more detailed look. 

Drones for Commercial Use 

Unmanned aerial vehicles have come a long way since their inception as incendiary balloons. Major drone manufacturers like DJI make more than $11 billion per year. They make machines with a primary focus on videography and photography.  

For example, the company’s Phantom 4 RTK drone specializes in high-level surveying and mapping. It can map terrain with  2 inches/ 5 cm accuracy. This feat is impressive, considering that the average drone accuracy is only 16.4 ft/ 5 m.  

Inspection is a dangerous business. From slippery roofs to shakey pillars to loose tiles, the is always a danger of an accident happening. There is always a risk of injury for professionals involved in this field.  

For the inspection of high rises and commercial buildings, there is an increased risk. The workforce must rely on more machines to check out a loose scaffolding or a stray line high up. The chances of something going wrong is consistently higher in such cases. Additionally, since these workers have to undergo high-risk situations; the corresponding insurance expenses tend to be hefty. 

How Drones Help Mitigate Risks 

Using drones to do these highly dangerous things can be an enormous advantage. They efficiently fly into hard-to-reach and tight areas that would typically require a rope and a lot of strategic navigation. In the case of an accident, you can easily fix a damaged machine. But an ill-time inspection can have life-long consequences for humans. 

Fukuyama Plant Case Study

For example, a Japanese corporation deployed a drone after a tsunami struck the Fukuyama plant on March 11, 2011. The Tokyo Electric Power- the plant’s parent company, used the vehicle to photograph its nuclear power plant. Since the disaster had made conditions unstable within the station, they sent the drone in place of human workers. 

The inspection helped the company receive detailed data about possible nuclear contamination. As a result, they resumed work only when it was deemed safe for the people to approach the station.  

Access to Hard-to-Reach Areas 

In property inspections, there is nothing as essential and frustrating as scaffolding. Not many people understand the hassle and the expenses of building the  frame. Constructing temporary structures costs a lot of money and is very impractical in the long run. Especially for taller buildings, property inspections are complex primarily of this. 

Using drones on your property can help eliminate this whole tedious mess. Aside from saving on structure building, you also do not have to hire an entire manual team. By reducing the number of personnel hiring, you also cut down on the insurance costs. 

The law relates directly to the landlord-tenant relationship. In essence, it's a way to guarantee that applicants rejected by landlords don't feel lost afterwards. That's because it's challenging to know what steps they can take after rejection. 

To simplify things, this notice demands landlords to provide additional information to applicants after denying housing. This information primarily goes through their rights and what they can do. 

The law applies to all applicants screened and denied housing on the 1st of March and later.