How up-to-date is your Rent Roll?
If it’s lying on your desk, it’s already out of date. If it’s sitting in your inbox, the same applies.
Still not convinced?
What about that break option Tenant A exercized yesterday – are your numbers for the quarter still up-to-date?
The point we are trying to make is that the life span of a rent roll rapidly deteriorates as soon as it’s exported. In some instances, they are out of date within a matter of hours. It’s a reality that many asset managers face – they still do not have live and direct access to their tenancy data.
So much data, so many sources
As an asset manager, you could find yourself working with more than one property management company across your portfolio. In most cases, each of those property managers would use different property management systems.
It’s the norm for property managers to update their systems on an ongoing basis; usually sending a report at the end of every month, reflecting changes made throughout the month prior. If you want an updated rent roll before your next report is due, you can, of course, send a request, and any PM worth their salt will ensure your request is actioned promptly.
If you’ve ever received rent rolls from more than one source, then you’re probably familiar with the struggle to line up tenancy data that is formatted differently too. Time-consuming and even frustrating – especially when the pressure is on to finish that report.
WHAT DOES A LIVE RENT ROLL LOOK LIKE?
Live Tenancy Data
Coyote pulls data from any number of property management systems – like Yardi, Tramps and Qube, to name a few, and then presents the information from multiple sources into a centralized dashboard.
You customize how you’d like to view your tenancy data; choosing the columns that you’d like to show or hide, regardless of where the data is coming from.
The raw data is automatically synced from your property management systems on a nightly basis – providing you with a live rent roll at the click of a button.
The benefits of live tenancy data extend to reporting too, meaning you can generate an automated report that includes live rent rolls from any number of assets. One-click reporting enables you to create a board-ready PDF in seconds.
So, the next time you’re 90 minutes into an asset management meeting and someone asks about the break option for Tenant A, Coyote gives you an up-to-date answer in seconds.
Asset managers can unlock live access to rent rolls – wherever that data is stored, and empower their teams to make quicker decisions with absolute confidence.
In this Forbes Real Estate Council piece, Coyote Software CEO Oli Farago discusses what commercial real estate companies need to be doing to attract the best talent in the industry.
Read this piece on what it means to have "clean" data and why the quality of your commercial real estate data matters – not just the quantity.
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