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A Twin Cities company announced today the launching of a cloud-based platform that streamlines the management of properties big and small, creating efficiencies that benefit not only owners of real estate and other property but their stakeholders as well.
TracFax emphasizes three significant concepts in a way like no other property management software offers: centered around and putting the property first, collaboration among all who have an interest in a specific property, and the data – written and visual -- is live and can be updated and viewed by those responsible for that information.
“I truly believe that TracFax is a game changer in this space,” said Tony Swendsrud, TracFax’s president. “This is an industry looking for tools and automation. We have the idea and the software for how people who work with property interact and do business. We bring some consistency and collaboration to this environment.”
The software eliminates a significant amount of duplication in data entry. For example, when a property manager reaches out for maintenance, prospective service providers can submit their proposals through TracFax for the property manager to review. Those proposals and related contracts are gathered in one location for easy scrutiny. The next year, the project can be duplicated and sent out.
Or when routine maintenance or repairs are initiated and completed, that information is submitted and available in real time through any mobile or desktop device. That means no more receiving an e-mail or phone voice-mail and transcribing the information into a database. That record is permanently stored on the property for easy review and recall.
“And we have the ability collaborate internally as well as externally,” Swendsrud said. “When I say internally, I’m referring to other property managers, asset managers, management, or an internal maintenance staff. Externally, we provide access to service providers, customers, owners and more. That collaboration is huge, and people recognize that.”
Swendsrud emphasized that while TracFax is offering the comprehensive platform for the first time, “We know, the software works. It has been tested for more than nine years on a less global basis. We have a proven concept.”
Nick Foley, TracFax’s system architect, touted the platform as “a real estate center that is an entirely new concept” that will be particularly attractive to owners/managers of 10 or more properties but works just as well for fewer.
“It’s something that’s going to help people organize their lives,” Foley said. “Because all the information is stored on the property, TracFax significantly reduces the time spent looking for and sharing information.”
