Solutions

« Space is property management software designed for owners and managers of commercial buildings and mixed-use real estate, as well as for companies managing real estate as tenants. Its core modules allow an accurate and efficient management of commercial buildings, office space and industrial parks, as well as the complete management of maintenance work and construction projects .»

Lease and property management

Property management

The first mission of the property management module is to maximize the performance and profitability of your properties through all the property management software features. Detailed data entry allows for in-depth analysis of all key variables of your management: yield per square foot, vacancy rates, costs related to tenants and building operations, etc.

As a property management software, Space allows you to precisely define each component of your property (building profile, surface area, zoning, etc.) and to monitor your commercial property management accurately and exhaustively, by entering electronic or traditional leases, revenues and expenses per property, rental offers, etc., into the software.

As a true commercial property management software, Space gives you a greater control and visibility over your properties by keeping all the information you need to manage your daily activities at your fingertips. Among other things, Space allows you to better control your expenses, to know with precision each characteristic of your buildings and tenants, which ensures you an efficient and very profitable rental management.

Lease management

The management of real estate leases is an exercise that should be rigorous in order to manage with control and efficiency the information related to each lease, in particular the reference documents, the invoicing and the critical dates.

As a true lease administration software, Space offers you the possibility to store all the information relating to your rental properties (area, tenant breakdown, charges, percentage rents, etc.) and to access it quickly so that you do not lose time in compiling and rationalizing the information relating to each lease.

The lease management module allows you to automatically process your invoicing, giving you the assurance that you will bill all common costs in accordance with each lease (net recovery, adjustments, considering rent increases, budgeted and actual costs, management of post-dated cheques, etc.) on time and accurately.

As a real estate rental management software, Space tracks all your alerts so you can accurately manage your deadlines and schedule. In addition, Space analyzes your performance through the production of more than one hundred and fifty statistical reports that give you high visibility on your revenues, expenses, yields and other performance indicators.

Financial management

Budget

Space is more than a management tool; it is a real planning tool that allows you to carefully monitor the budgets related to your rental property management. The functionalities of the budget module offer you:

  • A quick follow-up of current, revised, and projected budgets
  • The locking of budgets according to the different administrative levels
  • An effective control of actual and budgeted cash flows

Reports

Designed with powerful production functions, Space is able to generate reports that will provide you an increased visibility on the financial management of your rental properties. The software produces three types of reports, essentials to rental management:

  • Flexible financial analysis reports per square foot based on property areas
  • Budget variance reports with different types of customized templates
  • Management reports easily editable according to your specific needs

Consolidation

Thanks to the consolidation module, Space allows you to analyze the value and return on your investments, providing you a control and an integrated management of the various real estate assets, as well as management of interests in different properties and preservation of the history for future consultations.

Accounting system

Space incorporates an accounting module linked in real time to the lease management functionalities in order to handle all accounting aspects. Thus, all your lease management functionalities are simplified (consultation of accounts receivable, accounts payable and general ledger accounts, sales tax management, automatic preparation of government remittance reports, etc.).

The accounting system module allows you to reconcile all the accounting facets of your leases in a single location to avoid oversights and errors (inter-company accounting, bank reconciliation, unlimited amount of profit centres, etc.).

Project management

Construction projects and leasehold improvement

Space has an ultra complete construction and development project management software that brings you a rigorous follow-up of costs, tasks and resources related to the project.

Your main priority is to make an irreproachable follow-up of your costs. To achieve this, Space offers you a cost follow-up by level (budget costs, incurred costs, actual costs, management of automated purchase orders) which can be done by project but also by building. This way, you keep an ideal follow-up on your cost structure at the desired frequency.

In addition to cost management, the functionalities of the Construction, development and leasehold improvement projects module ensure a rigorous management of your project at every stage of progress. Space takes into account the management of changes and extras, the management of subcontractors and holdbacks of guarantees as well as the management of each project participant.

The construction, development and leasehold improvements project management module allows a configurable project structure to reinforce your visibility on each phase of the project (phases and sub-phases, activities and sub-activities, direct link with accounting), while giving you the possibility to insert documents related to your project and to access them directly.

In order to perfect the management of your construction/development project, Space offers customizable and personalized reports that will allow you to track the progress of your work in percentage as well as in dollars.

Maintenance and tenant services

Space manages and tracks tenant service requests with a very high degree of accuracy.

To begin, the maintenance and tenant services module defines price lists by company, property, customer and tenant as well as services in time, labour, material and/or quantities (billable and non-billable services).

The CRM property management offers a rigorous follow-up of service requests and sorts them according to different criteria (including an evaluation of tenant satisfaction) and an exhaustive analysis of the performance of the various services (comparisons between actual and estimated costs of the various categories of services and work).

Finally, Space sorts service or work requests by requisition date or priority level so that you always have a better visibility on your deadlines and timelines.

Market development

Projected revenues and rent hypothesis

The Projected Revenue and lease assumption module provides the ability to simulate different scenarios from existing leases and assign assumptions based on lease projections. It also allows an automatic transfer of approved assumptions directly to the budget.

Follow-up of leases, tenants and rental offers

Space allows you to keep track of your leases and directly helps you find and retain quality tenants.

The tracking leases, tenants and rental offers module offers you a complete picture of your properties (vacant and rented spaces, tenant description, management of critical dates) while supporting you in your marketing approaches (contact management, reminders, rental offers).

Space assures you a more efficient management of efforts and optimizes your occupancy rate through the rationalization of your activities.

Space Real Estate is easy to understand, very complete and offers excellent value for money, I have been working with this solution for over 20 years.

Read full case study >
Denis Bélanger
CPA, CA, is Vice President Operations and Real Estate Management Services at Group Colliers.

Lexia

Whether it's lease management or accounting, Space software adds tremendous value for us!

Christine Niquette
Property manager & founder of Lexia Immobilier
Lexia

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