Sage, an SMB-focused accounting, financial, HR and payroll tech service provider, today announced launching its Sage Intacct Real Estate module, according to a press release.
The company says the new module adds property management functionality to the Sage Intacct cloud financial management system, and combines its Sage 300 Construction and Real Estate (CRE) Property Management technology to its multi-tenant cloud platform Intacct.
Sage noted that the technology provides full lease abstract tracking and automatic reminders of important dates (including renewal options and lease expirations), which it says are important tools due to the rapid escalation of subleased space.
It added that the software also enables users to automate management fee collection, as well as expense recoveries for common area maintenance, real estate taxes and more.
“Sage is committed to helping meet the needs of construction and real estate professionals by enabling them to migrate their solutions to the cloud when they are ready,” stated Dustin Stephens, Sage VP for Construction and Real Estate, in the release.
“We saw a need in the industry for a cloud-based accounting solution with property management functionality. Sage is uniquely positioned to fill that void with Sage Intacct Real Estate, delivering a robust, modern solution for property managers,” Stephens said.
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The service provider says that the new solution provides “the same reliable functionality of Sage 300 CRE Property Management, with the added benefits of being in the cloud.” It says this increases flexibility and convenience for users by providing access from any web browser.
The company also said the module is designed to support multiple tenants in one space, or multiple spaces for one tenant.
While Sage has historically been focused on accounting systems for small- and medium-sized businesses of all industries, the company has recently placed an increased emphasis on construction and real estate verticals.
One notable example is its recent partnership with construction finance platform Built Technologies, which integrated Built’s project documentation and payment management solution within the Sage 300 CRE solution.
In other recent proptech news, Belong secured $80 million in debt and equity in a funding round led by Fifth Wall to expand its rental management platform. Roofstock CEO Gary Beasley also discussed the SFR market, future plans and the company’s recent funding.