During a challenging economy, one investment has risen above the rest thanks to its relationship with a fundamental human need: multifamily properties.
Multifamily property investing didn’t struggle as much as offices and retail spaces throughout the pandemic. Toward the end of 2021, it even experienced a surge in interest and is continuing to see strong growth well into 2022 — despite inflation and other difficulties. Whether your portfolio already consists of multifamily properties or you’re just starting to explore their benefits, it’s crucial you utilize a multifamily asset management software solution to streamline processes, reduce your workload, and provide the best possible service to investors.
Note: Covercy helps commercial real estate partners manage investors, properties, and fund administration tasks in a whole new way. Book a demo to see how Covercy could streamline operations for your firm.
This becomes increasingly important as you identify new opportunities, conduct fundraising with your investor base on them, and then go about managing them afterward. All of these steps require significant effort from you and your team. You have to build investor databases and manage a high volume of financial documentation for them. You have to gather data about properties and market them to investors. You have to set up funds and bank accounts to handle a variety of banking activities ranging from investor distributions to vendor payments and more.
These are hefty responsibilities that when handled separately create administrative hassles, cause service bottlenecks, increase risk, and in general make commercial real estate activity more challenging. With a multifamily asset management software solution, all of these needs — fundraising, investor relations, property management, banking, and distributions — can be centralized, streamlined, and in many cases automated. The result? You and your team are able to spend more time focusing on what matters most: providing unmatched value and returns for your investors.
How Multifamily Asset Management Software Addresses These Needs
Fundraising
Effective, insightful fundraising is essential when you’re looking to add more multifamily deals to your portfolio. When the right deal opportunity arises, you need to be able to quickly and compellingly market the deal to prospective investors and those you’ve worked with on past deals. With multifamily properties winning more of the spotlight in today’s market, it’ll be important to get the deal funded quickly so you can close, take over management, and start generating returns for your investors.
Raise with Covercy: Quickly create landing pages to market your deals, share offering decks, track investor engagement, automate agreement and contract data fill and signature collection, conduct capital calls, and manage your pipeline and progress — all from one system.
- Learn more about engaging your LPs so they continue to invest with you.
Investor Relations
In a competitive market, your investors are the key to a successful multifamily deal. As a GP, providing best-in-class service is essential to securing their resources to see each deal across the finish line. Providing them with a self-service platform — as opposed to manually distributing information on a periodic basis — enables greater service and insight so they know where they stand 24/7/365. Making document management, performance reporting, distribution details, transaction history, and more readily available (even for more complex investment structures) not only means less time managing this information yourself but is rapidly becoming the expectation — and it’s up to you to not disappoint.
Connect with Covercy: Our multifamily asset management software provides a sophisticated investor portal where you can nurture these relationships by providing them with access to their information at any time. Better service means stronger relationships.
- Get more insights into how to strengthen investor relations here.
Distributions
Perhaps one of the greatest needs in commercial real estate investing today is a solution for automated distributions to investors. You already know about the dreaded ‘wire day,’ outdated NACHA files, and the many other headaches that come with managing distributions — especially when you have investors with different ownership percentages in each asset. If you have or plan to take advantage of multifamily investment opportunities, your need to efficiently distribute funds to your investors will only increase.
Pay with Covercy: Covercy is the only CRE investment management platform that enables automated distributions. Our system allows you to pay investors by pro-rata ownership, execute payments rapidly domestically and internationally, deduct taxes from individual transactions, automatically reconcile distributions, and more.
- Go deeper into the value of our automated distribution capabilities in our free ebook.
Banking
With an average of three to five accounts per CRE asset and anywhere from 10 to 20 assets, it’s clear that you and your team have a lot on your plate when it comes to managing financial accounts. These accounts are used for everything from investor distributions to capital calls and vendor payouts. Covercy has interest-bearing checking accounts for these 10 to 20 real estate accounts. A multifamily asset management software solution with embedded finance streamlines this workload while giving you unparalleled oversight across all of your assets. If multifamily properties are in your portfolio, you need a solution that makes managing myriad financial transactions simpler and faster.
Bank with Covercy: Covercy is the first CRE platform that combines fundraising, investor relations, and automated distributions with a banking element — bringing all of this financial activity into a single system that makes your life easier. Rapidly open accounts under funds or asset names to automate capital calls, distributions, and payments. View all accounts across all assets easily and drill down into transaction-level details. Get liquidity projections, reporting data, asset sub-accounts, and more.
- Learn more about the banking advantages that only Covercy provides.
Grow with Ease Thanks to Our Multifamily Asset Management Software
Unlike other technology solutions, Covercy is the only multifamily asset management software that speaks your language and understands what you need to make your life easier, work more streamlined, and relationships stronger. Our team is hard at work developing new features designed with GPs in mind, and there’s plenty more to come. If multifamily properties are part of your investment strategy now or on the road ahead, now is the time to leverage a software solution that simplifies your work.
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Covercy is a financial technology company. Banking provided by Choice Financial Group: Member FDIC.
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