In the early 2000s, there used to be a pretty clear delineation between firms offering web and software solutions for the commercial real estate industry and those offering traditional consulting services. But the field of property management has been evolving so rapidly, it’s becoming more commonplace for service providers to combine traditional consulting expertise with web applications.
For example, RETransform, a global firm with offices in Dallas and New York, has been providing business management services for commercial real estate portfolios for more than 12 years. The firm’s capabilities range from asset valuation for brokers to accounts reconciliation for landlords to lease audits and lease abstraction for tenants, according to R. John Greenberger, chief operating officer with RETransform.
For companies that are opening new locations or have recently acquired new real estate portfolios, RETransform can eliminate the need for extra personnel, office space and equipment to manage the financials. That can help cut management costs anywhere from 20 percent to 60 percent, depending on the market, Greenberger says. RETransform can also provide ongoing reviews of CAM charges and rent escalations, going through a client’s accounts every two or three months to make sure the charges have been properly administered.