VP Landlord Edition™Overview
Property Management Software and Lease Services Solutions for REIT's, Property Owners, Landlords and Property Managers
It’s a difficult business you’re in, especially considering that the cost of property management continues to increase, while compensation for your efforts continues to decline. “Margins aren't what they used to be,” lament many—begging a “work smarter, not harder” solution. And try as you might to create efficiencies by imposing standardized leasing agreements, the end contract is going to contain a host of variances from the original. Designed to meet the strategic requirements and demands of Landlords when it comes to real estate management and lease administration, Virtual Premise introduces The VP Landlord Edition™ of its Global Real Estate Management System™. The Virtual Premise Global Real Estate Management System™ delivers system-enabled capabilities that add up to immediate and measurable results.
Capabilities include:
The completeness of the Virtual Premise Solution is immediately apparent. Virtual Premise helps you overcome the frustrating short-comings of using various systems to view information throughout your portfolio related to properties, leases transactions and tenants. Accounting systems track dates and dollars, but what about non-critical financial information such as exclusivities, co-tenancies and restrictions and the ability to report on this information and have a system notify responsible parties in the field? Virtual Premise has successfully integrated its Global Real Estate Management System with accounting systems such as JD Edwards, MRI and SAP to pull dates and dollars and then surrounds that information with critical non-financial information to provide you with a single view of your lease relationship.
Because the Global Real Estate Management System is a relational database, you can easily view a tenant's information, all of the leases within your portfolio associated with that tenant and all of the leases in the pipeline and under negotiation with that tenant. The VP Landlord Edition includes modules and functionality that may be combined and configured to facilitate your unique ownership strategy and is flexible to accommodate the business practices and processes that have made you successful.
Virtual Premise recognizes, of course, that the last thing you care to do is waste time on a long, drawn out Property Management software system implementation. New technology does not have to be disruptive. Our philosophy is to start simple. Adjustments can be made over time and when you’re ready. Get out of the gate and well on your way in 60 to 120 days with our Virtual Premise Global Real Estate Management System™. With Virtual Premise you get a high octane real estate lifecycle management system and phenomenal fuel economy. All of the above translates to a shorter implementation cycle and lower learning curve trajectory compared to others--and a shorter time-line to realize system-enabled capabilities that deliver immediate, measurable benefits. Read on...
You Were Hired as a Real Estate Expert
Spend more time on what they hired you for-- formulating real estate strategy and executing transactions-- and less time on compiling reports, spreadsheets, and other laborious documentation that is a part of asset management. Through
document generation, the creation of documents is simplified by associating leasing processes such as pipeline reports, letters of intent, and commission agreements. The Landlord Edition of the Virtual Premise Global Real Estate Management System™ streamlines queries and reporting and frees you from the administrative burden so that you can concentrate on more productive (and profitable) activities.
Geographic Dispersion
Consolidate multiple sources and types of data, no matter how geographically distributed your real estate portfolio-- or your staff. Your data is “well contained and maintained,” no matter the number of locations or how disbursed they are.
Real Estate Lifecycle Management and Real Estate Information Pipeline
With the Virtual Premise Global Real Estate Management System™, you can capitalize on the ability to integrate your transaction teams, whether it is Acquisitions, Dispositions, Financing's or Leasing with your Asset Management Group to provide information throughout the lifecycle of the assets in your portfolio to discover the benefits—and especially the cost savings .
Where the Rubber Meets the Road
Rise more effectively to new challenges with expanded capabilities that provide you the means to execute projects and optimize more effectively. Virtual Premise helps you rise to the tasks of dealing with acquisitions, dispositions and leasing, with well-designed portfolio management, transaction management, and project management functionality. Whether it’s finding strategic insights about your portfolio; comparing transaction metrics side-by-side or against transaction history; or managing project tasks and a host of vendors—all are possible through The Virtual Premise Global Real Estate Management System™.
Taming the Paper Tiger
Leases are vital critters that sometimes bite—even their masters. You don’t want your accounting folks jumping through hoops, either to find information or create reports that should be available at the touch of a button. Launch lease management queries and scrutinize contractual terms for pivotal dates and financial parameters. Depend on accurate, readily accessible lease administration data regarding expiration and termination dates, option dates, escalation clauses, co-tenancy and exclusivity clauses, and percentage rent clauses. The Virtual Premise Global Real Estate Management System™ retrieves the urgent details you need to stay on top of timely and accurate rent collections and to avoid the opportunity costs of missed critical dates. In addition integrated document management enables you to save time and money by having documents immediately accessible online.
"Coulda, Shouda, Woulda, Blues"
Ouch! Ever felt the blues after missing a kick-out option that really mattered? As you well know, a kick-out clause allows a tenant to get out of the lease or give back certain amounts of space, and this can either be on certain dates (couched as an option for some or all of the space) or in the event that the Landlord does not meet certain specified obligations. Virtual Premise clients can attest that from a lease abstracting/data gathering perspective, having these abstracted properly is crucial. Secondly, if it is on a certain date and notice is required, setting a Critical Date reminder to catch this option in time is also crucial. The Virtual Premise Global Real Estate Management System™ automates date reminders and option flags so you don’t miss critical dates. Refer to our Lease Services section to learn more about how Virtual Premise can help you move your clients a step closer to "data perfection." That way, you never have to sing the Coulda Shoulda Woulda blues.
5 Star Reporting
Your third party customers’ demands (portfolio and asset management, lenders, board of directors, etc.) consume your and your staff’s attention, time and energy. Timely, accurate and highly accessible real estate information is your new gold standard with the Virtual Premise Global Real Estate Management System™. Your executive peers will come to appreciate and trust the intelligence. Plus, in a dynamic market, accurate and timely information fuels more confident decision-making. Boost your service levels and customer satisfaction with Virtual Premise.
Integrated Workplace Management Systems
The key word is: “integrated.” Don’t be held hostage to past technological decisions or fearful of what the future may hold. The Virtual Premise Global Real Estate Management System™ works with all of the leading software platforms, extending real estate information into numerous functional areas. Let Virtual Premise act as your data warehouse to leverage existing technology investments in accounting, and facilities management
to provide you with a single view of all your internal systems using its web-based delivery model to push information throughout your field organization anywhere in the world.
Leave No Money on the Table
Track tenant improvement (TI) allowances. Ensure that you are receiving the allowances that you negotiated on behalf of your company. Whether it’s your client or the Landlord managing the build-out, you will want to make certain that all of the money that your client is due does indeed factor into their bottom line. The Virtual Premise Global Real Estate Management System™ lets you and your client manage their build-out process, move-in process and TI budget. The Landlord Edition of this system places controls and fiscal oversight in your and your clients’ hands for time- and cost-effective construction project and facility management deliveries.
On Schedule - Under Budget
Utilize the Project and Construction Management component of the Virtual Premise Global Real Estate Management System™ to establish best practices in construction management. Whether you’re overseeing tenant improvements, equipment installations, rehab activities, or capital building projects, learn how to manage your project online. Allow limited access to contractors and vendors, control the schedule and budget process, navigate contract forms and clauses, and manage the performance phase of construction for your buildings. The Landlord Edition of the Virtual Premise Global Real Estate Management System™ offers important capabilities the building management team requires to assure “On Schedule, Under Budget” performance through construction oversight activities.
Pain-Free Sarbanes Oxley Audits and Compliance
Facilitate compliance, both internally and externally, by utilizing detailed workflow's and processes in the Virtual Premise Global Real Estate Management System™ to support your real estate management activities. In all functions of real estate transactions, from acquisitions to managing critical dates, Virtual Premise provides an audit trail of lease, project and resource history that is always accessible by users. With Virtual Premise, audits take hours, not days or weeks.
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