[fa icon="calendar"] 03.14.2017 / by Hunter Strickland
Having been in business since the 1940’s, Demetree Real Estate Services has seen its fair share of property management software. We recently adopted a new platform, called VTS, that has exceeded our expectations and made operations much smoother for us and our clients. We wanted to take a few minutes and talk about this new technology, what it means for CRE industry and how it is beneficial to us here at Demetree Real Estate Services.
What is VTS?
VTS is a leasing and asset management software for commercial real estate. The largest real estate investors in the world use VTS to track the lifeblood of their buildings or portfolio, which is leasing.
Property owners and brokers can use this software for the following tasks:
- Track day-to-day leasing
- Build stacking plans (visualizations of a building where they can see status of tenant)
- Track their tenant’s lease roll
- Run a full-blown financial model
- Look at market information
VTS enables brokers to operate in a much more efficient manner, by pre-qualifying leads. This, in turn, results in greater productivity for all parties involved in the leasing process, allowing landlords to make more informed decisions with respect to their properties.
What Can It Do?
With VTS, you can see all the actual leasing negotiations you have in the pipeline. You can also click into a specific building to see what is going on there with inquiries, tours, proposals, how many leases you have out and how many deals have been signed year to date. These are fairly basic stats that would have previously taken a ton of time and effort to dig up without VTS software.
If you click on a specific lease, you are able to view where you are with that deal. You can easily view:
- Their information
- Which spaces they are interested in
- Who you are competing with for that deal
- The entire negotiation from start to finish
VTS has a calculation engine that allows brokers to become full-blown analysts. It does all the math for you and lets you see the total amount of capital going into a deal and the net effective rent monthly or annually.
If you want to understand your relationship with a tenant globally - which has previously been impossible to do - all you have to do is click on their name. VTS partners with Capital IQ so it can pull a plethora of data that you haven’t put in, such as the company overview, their officers, net income and revenue.
This data will appear alongside information you have put in, like active deals and leases. Your team can also update the relationship with details like “had lunch with CEO” so that people from your company can know who has been the point of contact.
What Are the Benefits?
Not only is this software useful in running buildings, but in thinking about capital investments as well. For companies that experience frustration with too many tools that don’t work well together, VTS offers a single solution for all your real estate leasing and management needs. It allows you to:
- Access full rent-roll, leases, encumbrances and exposure across your entire portfolio
- Quickly understand future lease roll and expiring rents compared to market
- Benchmark against budget assumptions and other deals in your pipeline
- Gain insight into where deals are getting done and how they compare to leases you're negotiating
- Track the status of every tenant in a building, including all the deal data, options and docs
VTS is Leading the Way
By creating one marketplace where information is shared and people can work together collaboratively, things can happen more efficiently and in real time. VTS is leading the way and making this ecosystem work better in the future.
VTS has the right technology and has a true understanding of CRE reporting. Learn more about what VTS can do for you at VTS.com.