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What will CRESSblue cost me?
ESTIMATOR
Use this calculator to estimate the monthly cost for your portfolio.
Use this calculator to estimate the monthly cost for your portfolio.
Operating without property management software left Megan and Dillon unable to support further growth in their portfolio due to time-intensive manual accounting processes.
The automation in CRESSblue has completely removed the need for spreadsheets saving Megan five hours per week. Additionally, she chose to integrate CRESSblue with QuickBooks® Online. As a result, she has further reduced bookkeeping time by two hours per week. Her hourly value is $25 per hour, thus resulting in $700 per month in time savings.
CRESSblue Cost
Reduced Expenses
Reduced Operations Costs
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More professional operations and newfound agility to grow the portfolio
Old verbal agreements and lapsed documents resulted in the need to reestablish the current methods of calculating rents for many mixed-use properties. Renegotiating and formalizing new leases was a lengthy process. However, the new generation of partners gained a solid education in commercial real estate practice.
Formalizing the lease terms and implementing them in CRESSblue allowed for the automation of the CAM and capital expense recoveries. CRESSblue licencing fees were just under $700 per month. In summary, the investment portfolio had an immediate 16.3% increase in returns for the first year.
CRESSblue Cost
Reduced Expenses
Net Expense Recovery
+
Improved efficiency, more robust performance reporting and 16.3% portfolio value growth
In essence, this combination of multiple antiquated systems and isolated users resulted in an inability to realize the intended productivity gains.
Combining the merger with CRESSblue implementation created significant improvements. Systems integration allowed the reduction of main office staff from nine to seven. Also, regional office hours were reduced by 35% due to the efficiency of using role-based online systems and automated calculations resulting in additional cost savings. Additionally, all transactions included audit trails for expense allocations, including digital versions of the supporting documentation. Markedly, monthly reports were available an average of 40 days sooner than previously. Similarly, annual reconciliations are now completed within 60 days of the year-end.
CRESSblue Cost
Reduced Expenses
Net Expense Recovery
+
Centralized document control, standardized workflows, multi-role management, full audit trails and faster monthly reporting and annual reconciliations
CRESSblue is commercial property management software for net lease multi-tenant properties that helps you avoid wasting time and money in lease administration and asset management. CRESSblue helps you painlessly manage unique leases and accounting needs, including cost recoveries and reconciliations.
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