Technology is creating platforms that improve the management of commercial real estate and bring in more investors. Software and apps from companies like ClickNotices and BuildScience allow property managers in California and elsewhere to track maintenance requests sent from tenants’ smart phones and monitor rent collection.
Online lending marketplaces have popped up as well. Sites like Money360 and Rockfund present funding opportunities for commercial real estate. People in need of a loan can browse options like crowdfunding or traditional lenders. Private citizens can also invest their money in building projects like retail centers or warehouses through markets operated by Realty Mogul, PeerStreet and others. These venues have created a way for people to place a portion of savings into the commercial building market.
Investors also have new ways to analyze data on platforms such as Rentlytics, Compstak or Reconomy. Information can be sorted and compared so that users might have a clearer picture of the economic potential of a property acquisition or sale.
Information is essential for investors to make effective decisions, but they might also desire legal advice when dealing with a property purchase or problems like title disputes or enforcement of liens. An attorney who practices commercial real estate law could advise clients who need to enforce a contract, negotiate with a hostile party or prepare litigation. An attorney might also assist the client during alternative dispute resolution methods such as arbitration or mediation. These efforts might allow the client to overcome legal challenges in a shorter amount of time and limit costly liabilities.