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Central contract management: Real estate contracts at a glance

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22 December 2023

Managing the service contracts concluded for a property with external service providers, maintenance companies and other service providers requires perfect organization in order not to lose track of the multitude of contracts for each property with the corresponding services, terms, prices and price adjustment clauses.

Service contracts to your property:
Keep the overview

With central management of service contracts, property management is reminded in good time before the contract expires, for example, when and with whom a contract renewal is due or when which service is due.

Track tender and contract

Even before service contracts are concluded, the first step must be to systematically and consistently follow up on the offers of potential suppliers or service providers as part of the request for proposals or invitation to tender. Subsequently, it is important to maintain an overview at every point in the process in order to keep track of the current status of the negotiations.

Central contract management:
Relevant contract data in the web-based
Deposit real estate software iHive

After concluding a contract with the service providers, it is important not only to assign the respective service contract to the individual property, but also to be able to track the resulting obligations of the respective service provider and their fulfillment.

The central contract management of the mobile real estate software iHive® can directly link the service contracts with the service providers (e.g. plumbing, electrical or even janitorial contracts) and the resulting obligations to the individual real estate objects. At a glance, it becomes possible to track what needs to be done, when, where, and whether a task has already been completed.

Central contract management – also for the initiation of service contracts

The real estate management in the duty

Centralized contract management not only helps to provide contractors and owners with a high quality of service. Rather, it supports real estate management companies in coping with the ever-increasing “burden” of new requirements, e.g. from the Drinking Water Ordinance or the Industrial Safety and Health Ordinance. Maintaining an overview here and properly fulfilling all the resulting obligations is often almost impossible today without appropriate support. The burden of proof for implementation lies with the property management company at all times. Another reason to automate the corresponding processes with iHive®, the innovative real estate software as SaaS.

More productivity and security through central contract management

More overview through automation automatically means faster work and increased productivity. Once the duties resulting from the multitude of regulations have been set up in iHive® , property management can also sit back with a feeling of security: Because firstly, the respective tasks are then automatically displayed in the system and secondly, they can be found again at any time and are not lost in the flood of information. So what needs to be done is done quickly and the head remains free for the next tasks!

Task-oriented approach – to track service contract obligations.

Centralized contract management to control regular janitorial tasks.

Example: Janitorial and cleaning contracts often have a variety of different items to be performed at different rates – from weekly cleaning of stairwells to monthly playground inspections to winter maintenance as needed. But who tracks and documents that these have also been completed – ideally without any major intervention, i.e. “automatically”? What about possible claims for damages if, for example, the sidewalk was not cleared in time during snowfall or the climbing equipment at the playground was not regularly maintained? Who is liable?

iHive® assists in monitoring the fulfillment of regular janitorial duties around the property. Recurring tasks from service contracts can be processed in a structured manner, as can current processes and new tasks. These are clearly displayed in the user-friendly dashboard of the iHive® property management software and can be transparently tracked by the property management team at any time.

Productivity increase through central display and monitoring of obligations from the service contract

In digital real estate management with iHive®, all obligations resulting from service contracts are presented centrally as tasks. By means of monitoring, it is also possible to check which duties have not yet been completed so that interventions can be made. With state-of-the-art editor and ready-made templates, communication can be efficient and multi-channel: For more productivity in real estate management.

(Image source: netcos GmbH)