Property Portfolio Management Platform
A cloud-based property management platform that enables companies to increase efficiency and generate more revenue, by reducing the time and manual labor required for property management business processes.
About the client
Our client is a Chinese real estate startup founded by a property manager with nearly a decade of experience in the industry. Throughout the years, the founder had tested a number of software solutions for property management.
Previously, these solutions were outdated and difficult to use, requiring users to have strong analytical skills when working with spreadsheets. They also didn’t allow multiple employees to work simultaneously in one workspace. Other challenges included low performance, data integrity complexity, data inconsistency, inefficient onboarding processes, etc. All of these factors made it difficult for real estate employees to perform their best at work.
Frustrated, our client came up with an idea to develop a property portfolio management platform that would be feature-rich and user-friendly, meeting all the needs of the specialists involved in property management.
Client request
The startup turned to Itexus to develop a new system that would automate lease and property management, simplify operations, and improve portfolio performance. The system was supposed to reduce the time and manual labor required for data processing and verification, ensure data consistency and transparency, and streamline the complex onboarding process.
Engagement model
Time & Materials
Effort and duration
6 months for MVP
Solution
Cloud-based property portfolio management platform
Project team
1 Project Manager, 1 Business Analyst, 1 QA Engineer, 1 Tech Lead, 3 Developers, 1 UI/UX Designer
Tech stack / Platforms
Target audience
The solution is targeted at multinational B2B companies involved in property management, such as landlord companies, real estate investment trusts, fund management companies, and so on. The end users of the platform are portfolio managers, lease managers and investment managers.
Project challenges
When it comes to property management, there are a lot of metrics and calculations that need to be considered. Our platform was supposed to perform all of the calculations automatically, based on the data entered by the managers. The complexity of these calculations required substantial brainstorming to figure out a solution that worked. Eventually, however, we were able to arrive at a solution that not only worked beautifully to solve our client’s problem but also similar issues that consistently arose in our other real-estate projects.
Another challenge was the matter of ensuring the fast and seamless uploading and downloading of large amounts of data. This was achieved by implementing well-designed data processing logic and a good configuration of the infrastructure.
Solution overview
The solution we developed is a SaaS platform that enables property management companies to increase efficiency and generate more revenue, by reducing the time and manual work required for business processes. This is achieved through the automation of data processing and verification, ensuring data consistency and transparency, as well as the streamlining of employee onboarding and training processes.
Admin module
The Admin module is designed to manage internal system processes and provides the following functionality
User authorization
- Log in to the system to access the functionality and log out of the system to end the work session
Management of customer contacts
- View clients and their personal data, edit and update client details, add new clients to the system
- View and remove portfolios, view and remove landlords
- Block the access of particular clients so that they can no longer use the platform
Subscriptions management
- View subscriptions and add new ones that apply to different clients
- Edit, update and remove subscriptions
Management of .csv templates used for data import
- View all available templates and their assignment in the system
- Upload templates and remove them
Client module
The Client module automates lease and property management and increases portfolio performance through comprehensive centralized data and reporting. The module provides the following functionality:
User authorization
- Log in to the system to access the functionality and log out of the system to end the work session
Internal users management
- View the list of internal users, add new users, and assign them permission to use the platform
- View the details of internal users and the permissions assigned to them, block the access of particular users so that they can no longer use the platform, view and update the user permissions for the system functions within the assigned portfolios
Portfolio and economic ownership management
- View and manage the list of portfolios, add, edit, and update new portfolios
- View the list of landlords to learn about their economic ownership, add landlords to the portfolio to define the entity’s beneficial interest within the portfolio, edit the landlord information, remove the landlord, and delete any associated data
Property management
- View the list of properties, view the details of each property and the information about the set parameters, add/edit a new property within the portfolio and manage suits and leases, manage photos of the specific property, delete the property, and stop calculations
- Manage the classification of suites within the property
- Download the provided property listing template and fill it with a massive amount of data, upload the data-filled file to import property data into the system
Suite management
- Add new suite items within the suite schedule and manage them in the system, view added suites and split added suite items, delete suite and remove inappropriate data
- View, add, and manage suite schedules within the portfolio, view added suite schedule within the property, delete the suite schedule and remove inappropriate data
Lease management
- Add/edit leases within the property and manage them in the system, view all calculated parameters of the respective lease, delete the existing lease, and remove inappropriate data
- View all added leases within the portfolio, add leases to the portfolio and delete them, view the detailed table of leases, remove inappropriate data, and stop lease calculations
- Download list of leases, search and filter for leases, and view search results
Tenant management
- View the list of tenants, add a new parent company or a new subtenant and assign leases to it, edit tenant details, remove the tenant from the system and delete all associated data
Market rent management
- View the list of added market rents, add a new market rent to use for calculating occupancy rate, edit or remove an existing market rent to keep the relevant data in the system
Parameters management
- Manage asset types, specify and categorize added asset items and tenants, manage parameters for calculation rules
Dashboard management
- Summarize information to control all added data, set and update multiple filters to view output statistics within specified parameters, view detailed statistics, download PDF files, view and download original underlying statistics
Development process
The client already had a clear product vision when they approached us, requiring only a brief discussion before we proceeded to create a requirements specification for the software. We defined the solution architecture, selected the tech stack, prioritized features, and began the development phase, which was divided into several iterations. Each iteration corresponded with a two-week sprint, followed by a demonstration of the developed features and a feedback collection session. The project manager kept track of the budget and scope, reported costs to the client each week, and informed the client when changes were made to the original scope and requirements.
Technical solution highlights
The client app is a web application built on ReactJS that provides user interfaces and system functionality to the end user. The admin app is a WEB application that provides user interfaces to admins to manage the system. The backend is built on Python.
Due to the MVP scope, the system does not currently support integrations for data migration from/to third-party solutions. In the future, the platform will provide scalability for integrations with external systems (e.g., CRM/ERP integrations for customer tracking, inventory management, or invoicing).
Results
We delivered the MVP in full compliance with the client’s requirements. The platform allows users to automate lease and property management, provides data consistency and transparency, and streamlines the complex onboarding process. The solution enables property management companies to increase efficiency and generate more revenue by lowering operational costs, reducing the time and manual labor required for data processing and verification, and automating multiple business processes. Six months into the project, the platform is up and running. Our client is gathering end users’ feedback to identify areas for improvement and develop a winning scaling strategy.
Want to create a property portfolio management solution or need help with real estate software development? Contact us to discuss how we can help.
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