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The internet is filled with amazing property and asset management solutions for the real estate industry, but choosing the best one as a beginner may get overwhelming since most of these options offer similar features.
Our goal is to help you find the perfect option to help you manage your entire portfolio, whether you're looking for:
- Investor Management
- Tenant Management
- Prices/Operations Management
- Financial Management
- General Property Management
At first glance, asset management (and other areas of the real estate industry) can seem complicated to understand. Still, the options we're reviewing today will help you make everything a breeze.
Today, we'll review STRATAFOLIO, which is considered great real estate software for those who want to manage their commercial real estate. What makes this property management software different is that it focuses mostly on commercial real estate, but will it be enough to cover everything you need?
Let's find out!
What's Behind the STRATAFOLIO Property Management Software?
STRATAFOLIO is a platform that aims to help commercial property owners manage their business more effectively, whether they need to handle asset management, finances, investors, operations, etc.
Something that makes STRATAFOLIO unique is its integration with QuickBooks Online. It helps you streamline most of your operations, which can help in improving your profits in the long run.
Keep in mind that STRATAFOLIO is a web-based solution, so you will be able to access it from any device with an internet connection (although it may be more comfortable to do it from a computer).
What Are the Best Features of STRATAFOLIO for Commercial Real Estate Managers?
Let's take a look at what makes STRATAFOLIO a good option for commercial property managers:
Access to Everything in One Platform
Thanks to STRATAFOLIO, you can combine all your commercial properties in the same dashboard, allowing you to keep track of all the information you need much more efficiently. You will need to connect your QuickBooks Online accounts to get all the analytics.
Once you're done, you will be able to take control of your portfolio with many of the platform's features, which include CAM tracking, lease management, tenant payments, and more.
Some users have reported that there was a lack of instructive videos for those unfamiliar with the platform, but the team quickly responded there were how-to videos coming up soon, which speaks highly of the support team.
Financial Management
STRATAFOLIO's finance management option allows you to see the full picture of your real estate portfolio, but you can also check individual properties and tackle specific issues.
Depending on what you're looking for, you can check:
- Operating Expenses
- Payrolls
- Overhead Expenses
- Rent Income
- Debt
- And more
You can also use the platform's "Loan" and "Cash Flow" dashboards to expand the information you need on your properties.
Operations Management
Some of the features you'll get with operations management include:
- Bulk Invoicing
- Reminders
- ACH Payments
- Work Orders
- Tenant Portals
- CAM Reconciliation
- Lease Rate Escalations
In essence, you can turn one of the most tedious parts of real estate management into something much more manageable!
Asset Management
You'll be able to track all your assets from the same platform. Generally speaking, you can quickly see all the properties you own and their information, including location, properties, documents, and more.
Here, you'll get access to the following features:
- File and Picture Management
- Rent Roll Creation
- Work Order Management
- Asset Drill Down
- And more
Investor Management
Finally, the investor management feature makes your life much easier by giving you a full overview of investors thanks to STRATAFOLIO's investor-specific dashboard. This is the perfect tool if you're looking to build a solid relationship with all your investors.
STRATAFOLIO Pricing
The price you'll pay for STRATAFOLIO will depend on how many features you want. Currently, there are three plans:
- Essential - $150 per month (plus $2 per additional unit)
- Professional - $175 per month (plus $4 per additional unit)
- Enterprise - $210 per month (plus $6 per additional unit)
Each of these plans allows you to manage up to 10 properties. If you want more, then you will have to pay the extra fee.
Three Excellent Alternatives to STRATAFOLIO You Can Get Today
If STRATAFOLIO isn't convincing you, here are three other options you may consider for your property/tenant management needs.
#1 - DoorLoop
DoorLoop is an excellent option if you're looking for both residential and commercial management software.
With outstanding customer service and a wide range of features to accommodate most users, DoorLoop stays at one of the highest-rated property management platforms on the market.
DoorLoop Features
Regarding commercial properties, DoorLoop gives you access to a wide range of features, including:
- Work Order and CAM Management
- Rent Payment Collection
- Tenant Request Management
- Rent Increase Management
- Unlimited Custom Reports
- Integration with QuickBooks Online
Even if you don't want to use QuickBooks, DoorLoop offers a full suite of accounting features for the user, so rest assured you'll get everything you need to keep track of all your properties with no problems, whether you want to pull up a personal financial statement or anything else.
DoorLoop Pricing
One of the main benefits of DoorLoop is that it's much more affordable than other platforms like STRATAFOLIO without sacrificing quality or features.
Currently, DoorLoop starts at $49 per month for 20 units, which is perfect for beginners. However, you'll need to pay for the high-tier plans if you want more features.
#2 - Innago
Innago is known for offering 'free' solutions to both residential and commercial property owners. If your budget isn't too big, or you're not managing that many properties, this could be an excellent place to start your management journey.
Innago Features
Commercial property owners will have access to many features within the Innago platform, including the following:
- Free Software
- Secure Storage
- Automation Features
- Online Rent Collection System
- Online Lease Signing
- Maintenance Request Management
- Free Property Listing/Syndication
- Mobile App
- Financial/Expense Reports
- And more
Innago Pricing
Even though Innago is technically free, there are a few fees you must be aware of.
You can pay up to $2 in fees for ACH payments. Moreover, credit and debit card payments will charge a fee of 2.75% of the total amount.
Finally, if you want to request a background check, you may need to pay from $30 to $35.
#3 - Hemlane
Hemlane is a platform made for agents, owners, managers, and tenants. Even though the platform focuses on residential properties, it also offers support for commercial property owners who want an extra hand in the management department.
Hemlane Features
Some of the greatest features that Hemlane offers commercial property managers include:
- Rent Collection
- Maintenance Coordination
- Tenant Screening
Unfortunately, Hemlane lacks a few important features that other software like DoorLoop has, like marketing for commercial properties, agent requests, and commercial service professionals.
Hemlane Pricing
The reason why we included Hemlane in this particular list is because of its price. If you're looking for a basic solution to manage your commercial properties, then Hemlane may help.
Its "Basic" plan starts at $30 per month for one unit. You're expected to pay $2 per additional unit. The "Complete" plan starts at $60 per month, which is great if you're only managing one property.
Try DoorLoop
Out of all the options we just mentioned today, DoorLoop is the one that offers the most comprehensive list of features for all kinds of property owners, including commercial ones.
If you want to test what DoorLoop has in store for its clients, make sure to request a demo today.
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