One vital aspect of airport administration is the management of an airport’s leases. Airport managers know that leases bring in essential revenue to the airport and provide continued services to the various stakeholders of an airport. However, leases may be a source of frustration and complications for some airport directors. The massive amount of paperwork that is required to track the necessary information about the tenants can grow to be unmanageable and time-consuming. This issue can occur at airports of all sizes, from General Aviation to Category X.
The solution to this type of problem can be found in property and revenue management systems that ease this pain point with intuitive software. A property and revenue management system that automates this work can significantly decrease the amount of time airport staff spend managing and tracking leases. From sending automatic alerts about expiring insurances and leases and sharing information in real time between airport stakeholders, to generating custom reports and more, property and revenue management systems have significant positive impact in streamlining airport operations.
Airports find themselves in a unique situation. They have specific needs when it comes to property and revenue management due to the variety of spaces and properties they rent to tenants, along with the revenue sharing agreements that are often in place. Airports vary in their size and processes, with every airport managing leases in a different way. Due to these factors, an airport should search for a property and revenue management system that is specific to the needs of airports and customizable to the airport that is looking to procure it.
Some current property and revenue management systems view the aviation industry with a ‘one size fits all’ approach. These systems provide airports with off the shelf solutions used in other industries and hope that it matches the process of airports. An aviation-specific system can immediately fulfill the unique needs of airports and include key features and tools that airports need in a property and revenue management system.
An effective property and revenue management system for an airport should have the ability to be customized. With each and every airport being different in their operations, it is worthwhile for airports to seek out a company that is willing to customize a property and revenue management system to fit their needs. Customization allows an airport’s specific needs to be addressed and built into the system, producing a product that seamlessly fits into their operations in a way that is easy for staff to understand.
The benefits of property and revenue management systems at airports are clear. By procuring a system that is both aviation-specific and customizable, airports can be highly successful in tracking and managing their leases, making a once time-consuming process much more streamlined and efficient.
