The new STRATAFOLIO COI module solves this significant problem for CRE owners by providing a centralized hub for all policies along with an automated process for tracking upcoming renewals and an alerts system to automatically notify tenants.
CEDAR RAPIDS, IA, October 19, 2021 /24-7PressRelease/ — STRATAFOLIO, a leading provider of commercial real estate management software, announced a new product feature release for the tracking of Certificates of Insurance. In addition, the company now has over $1.6 billion of assets under management.
A certificate of insurance (COI) outlines the types and amounts of insurance coverage for a business. Owners and managers of commercial real estate require tenants to provide a COI as part of the leasing process. However, there is no easy mechanism for owners and managers to track policies and alert tenants of the need for policy updates. The new STRATAFOLIO COI module solves this significant problem by providing a centralized hub for all policies along with an automated process for tracking upcoming renewals and an alerts system to automatically notify tenants. This leads to a reduction in risk for the owner in the event of an insurance claim event.
“We are so excited about the ability to track our tenants’ insurance requirements and compliance in STRATAFOLIO. Having all of our tenant information in one place instead of multiple spreadsheets is a lifesaver! Insurance compliance is an extremely important facet of our business. When a tragedy hits, it is a blessing when everyone has the proper coverage in place. Not only does it help to mitigate the loss, but also the frustrations. STRATAFOLIO’s new insurance tracking system is streamlined and provides efficient management of this critical piece of property management,” says Julie Whitt of Specialty Property, Ltd.
Jeri Frank, CEO of STRATAFOLIO, also announced that the company has reached a new client milestone of over $1.6B of assets under management. “We are proud to help our clients efficiently manage their over 15 million sq ft of rentable space. While the majority of our client base is within North America, we have seen a large expansion in assets internationally. The need to automate business processes now more than ever within the commercial real estate sector has provided us with a tremendous pipeline of new business and growth opportunities both domestically and beyond.”
STRATAFOLIO is a cloud-based software solution designed specifically for people who own or manage commercial real estate to streamline their operations to save time, increase profits, and reduce manual work. The tool helps owners with financial, operations, asset, and investor management by tracking and automating complex processes like Common Area Maintenance (CAM) reconciliation, lease escalations, loan management, financial statements and more.
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