Property management entails the daily administration of residential, commercial, and industrial properties. Typically, property managers are responsible for organizing repairs, maintenance, security, and any tenant concerns that may arise during a lease. Additionally, many property management companies oversee a number of duties involving tenant and owner relationships, including tenant screenings, lease preparation and management, rent collection, and more. This wide array of responsibilities ensures that most property management offices are inundated with paperwork, which can create workflow bottlenecks, increased overhead, and organizational difficulties.

An IDP should be one of the most dynamic tools in a property management company’s toolkit. IDPs like ADEx, whose powerful AI is tailor-made for the real estate industry, can provide end-to-end solutions for property management document workflows. ADEx can intelligently gather, process, organize, and analyze information provided on both structured and unstructured property management documents. Unlike most IDPs, ADEx can perform context-aware analysis, which means that it looks beyond keywords to discern complex relationships between data points. This level of understanding can offer property managers crucial insights which would have been missed with manual processing.

Yes, and you should! From maintaining regulatory compliance to extensive rent roll analysis, an IDP can automate your entire commercial real estate portfolio document processing workflow. The real estate and property management industry has been relatively slow to embrace automation, so you can put yourself ahead of the curve by introducing an IDP like ADEx into your business. The automation will allow you to focus your efforts on making strategic decisions, collaborating with accounting, and gaining deeper and more useful insights about your portfolio—all while drastically reducing the amount of “busy work” that your company takes on.

Because property management companies perform so many duties, they usually have several document processing workflows. With piles and piles of paperwork in most property management offices, the documentation processes can be complex, tedious, and labor-intensive. For example, for a single commercial tenant, a property manager may need to process and organize applications, lease agreements, insurance policies, bank statements, tax documentations, rent rolls, and more. Additionally, there are an increasing amount of regulatory requirements surrounding the storage and organization of these documents, leaving property management companies on the hook for maintaining regulatory compliance. All of this can create a massive employee workload, often taking up valuable time and resources to manage.

Absolutely. Most property managers agree that maintaining up-to-date rent rolls of their properties and for their portfolio as a whole is vital, but manually updating rent rolls can prove an arduous task. Automating the rent roll process with an IDP like ADEx will not only reduce your overhead costs but will also provide more accurate, useful data.
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ADEx’s AI-powered data extraction and analysis process takes human error out of the equation and presents rent rolls in a thoughtful, easy-to-understand format. Because ADEx leverages a cognitive AI engine, it can make connections between data points and organize analysis in a way that enables property managers to utilize it to make business decisions.

ADEx’s powerful AI offers a turnkey solution for property managers and property management companies. Not only is it built exclusively for the real estate industry and pre-loaded to comprehend over 2,000 document types, it also provides calculators, analytics tools, and dashboards that can completely overhaul your workflow. Additionally, unlike other IDPs, ADEx can be trained to recognize and process new document types with fewer than five samples, which means that its knowledge base can expand to fit your business needs. Put simply, ADEx is purpose-built for your property management firm.