Last Updated on June 28, 2023 by Morgan Beard
Life Before Occupier:
- Leases were tracked using a master excel document in addition to calendar notifications.
- There was a lack of insights into financial reporting.
Life After Occupier:
- This healthcare company expanded from 150 locations in February 2021 to 310 in June 2021.
- All critical dates and clauses are tracked with Occupier Portfolio Digest Reports.
- No critical date across our 310 leased locations is missed.
- Every team has real time insights and access to data across our lease portfolio.
INDUSTRY: HEALTHCARE | LOCATIONS: 310+
The Lease Administrator for this healthcare company works in Occupier daily and finds it helpful, “especially when our growth goals require 20 new locations a month. In February 2021, they had 150 leased locations and today, June 2021, they have 310 locations in their portfolio. “When I joined, we were using a robust spreadsheet, but it was almost impossible to digest simply due to the sheer amount of information it housed. And as we continue this year we have a growth goal of another 80 locations a quarter.” These are microsites at 100 to 200 square feet so we can create a physical presence and ultimately test the market. According to the lease administrator, “I couldn’t imagine managing our location growth without Occupier.”
The Portfolio Digest Report
Every week, a summary of your portfolio’s critical dates, pending tasks and areas that require attention are rounded up and delivered to your real estate team. “I don’t know that I could function without it. These portfolio digest reports that I get from Occupier are fantastic!
With the renewal dates in the pipeline, the expiration date notifications and security deposit alerts; these portfolio digest reports supply everything we need to be aware of.” This has made our team more efficient in terms of tracking all pending tasks across our 300+ lease agreements.
The real estate portfolio is an area of interest for a range of departments across an organization; especially with real estate as the second highest business expense after payroll. According to this lease administrator, “Occupier allows me to collaborate with marketing, finance, and facilities. The reports are key, it’s how I communicate with the rest of the team, who decides if we want to renew a lease, expand in a market or let the lease expire.” As a whole, Occupier is incredibly user friendly and intuitive; each of our team members can dive in and analyze the data points that are relevant to their department. In the past collaboration was such a challenge when using only spreadsheets to track our lease documents.
Our finance team was the department that first introduced our greater team to Occupier as a cross-collaboration platform. “Finance was originally looking for an accurate tool to look at our portfolio of rent obligations and make sure that aligns with our accounting statements. Essentially, Occupier acts as an additional check-point for our financial reporting.”
In addition, the functionality of being able to forecast future rent has been such a wonderful insight. “For example, I love being able to pull a rent three years out. And, based on what we have loaded in the platform for escalation we have an idea of our real estate expenses 3, 4 or 5 years down the line,” says this lease administrator.
According to this lease administrator “If your business has more than a handful of locations, how would you manage it all? Occupier is the ultimate lease management solution to help your team manage a large portfolio of leases.”