Multi-Housing News - June 2009 - (Page 8)

property management Leverage Your Portfolio By Keat Foong, Executive Editor Asset management today is not what it used to be— thanks to technology. Software programs, whether or not they are Web-based, have streamlined reporting processes and thereby provide great time and cost savings. Additionally, there are a myriad of powerful tools in software packages that can perform functions that portfolio managers would never have even dreamed of in the past. “There are so many ways now that you almost have to take a step back to appreciate how much of an impact technology has on our management,” says Lori Reeves, vice president, chief information officer of Forest City Residential Group. Financial reporting, budgeting, planning and performance analysis can all be centrally performed today. Web-based software programs allow portfolio managers to see, at a glance, key performance indicators (KPIs) such as occupancy levels, NOI variances, traffic counts, lease renewal rates or outstanding receivables, whether across portfolios or drilled down to the individual apartment asset level. And whereas in the past, corporate headquarters or regional offices had to wait for monthly or weekly operating reports, today the reports are available in real-time and on-demand to all regional or corporate managers. This allows the apartment companies to respond to adverse conditions in their assets more quickly. “Managers don’t have to send us reports. With the central reporting capabilities, you don’t have to wait for others to send you information. You can go get what you need when you need it,” says Reeves. “You can run financial and operational reports for Today’s technology enables asset managers to perform many functions that they never would have dreamed of in the past 8 June 2009 | Multi-Housing News | Of ficial Publication of Multi-Housing W orld

Table of Contents for the Digital Edition of Multi-Housing News - June 2009

Multi-Housing News - June 2009
Contents
From the Editor
Executive Insight: Acquisition Strategy
Investment: Construction Conundrum
Property Management: Tech Tools
Strategy: Property Management
Case Study: TOD
Technology: Resident Payments
Turning Over Apartments

Multi-Housing News - June 2009