Optimizing Real Estate Operations: Lease Administration Solutions
Introduction
Vestian expanded our partnership with a long-term client to address their lease administration challenges, leveraging our existing credibility in Transaction Advisory and Project Management to centralize and optimize their real estate processes.
Challenge
Our client had an existing Visual Lease subscription but lacked day-to-day management and a proper lease administration function. Their lease data was inaccurate, incomplete, or outdated, hindering effective portfolio management and decision-making.
Solution
Vestian implemented a comprehensive lease administration solution to streamline data updates and improve visibility using the client's existing technology. We abstracted all leases and uploaded key data and clauses into the Visual Lease tool, customizing data fields to meet the client's unique requirements. We developed standard reporting tools and provided a real-time, audited view of the portfolio with enhanced reporting and alerts for critical dates. This centralized approach created a single source of truth for all departments, supporting day-to-day operational decision-making with a comprehensive view of the entire portfolio. It enabled the development of site-specific tactical plans based on key critical dates and improved strategic decision-making in transactions, project management, and facility maintenance. The solution also enhanced long-term forecasting capabilities and increased agility through efficient scenario planning, allowing for temporary or short-term shifts in business strategy.
