Deal Manager by CommercialEdge is a comprehensive solution designed to optimize and streamline the lease renewal process in the Commercial Real Estate (CRE) sector. Here’s an overview of what the product does and its key features:
What Deal Manager Does
Deal Manager is integrated with Yardi property management and accounting software, providing a centralized platform to manage all aspects of CRE lease renewals. It automates repetitive tasks, enhances communication, and offers real-time visibility into critical lease data.
Key Features and Functionality
Seamless Communication and Collaboration
Deal Manager simplifies communication among stakeholders, including leasing, asset management, and legal teams, by allowing them to communicate directly within the platform. This eliminates the need for lengthy email chains and spreadsheets, ensuring a clear trail of all conversations.
Tracking Expiration Dates
The platform includes a comprehensive dashboard to track lease expiration dates across portfolios. Users can view leases by properties, spaces, or tenants, and run analyses by year, quarter, or month. The lease expiry report provides a detailed overview of upcoming expirations, filtered by the current year or subsequent years.
Color-Coded Stacking Plans
Each property page features a stacking plan with color coding to indicate lease expirations. Users can access detailed information about each unit, including suite number, floor, size, tenant details, lease encumbrances, options, rent steps, expenses, and contacts by simply clicking on a particular unit.
Real-Time Notifications and Updates
Deal Manager keeps all stakeholders informed with real-time alerts and updates, ensuring deadlines are not missed. The system allows collaboration on documents, commenting, and tracking changes, enhancing transparency and reducing the risk of miscommunication and delays.
Assessing Tenant Interest
The platform simplifies evaluating tenants’ interest in renewing or expanding their leases. Users can create proposals for existing tenants or add leads without initial proposal terms, gathering essential information to make informed decisions and cultivate long-term tenant relationships.
Generating Proposals
Deal Manager streamlines proposal creation using pre-saved deal terms, options, and required approvals. Users can save clauses into groups and customize them according to their preferences, making the proposal process faster and more convenient.
Portfolio Encumbrances Report
The system provides a comprehensive overview of all lease option types with their respective statuses, including active and superseded amendments. Users can set up email reminders for expiry date notifications to manage lease options efficiently.
By integrating these features, Deal Manager significantly enhances the efficiency and productivity of the lease renewal process, allowing CRE professionals to make better-informed decisions and maintain strong tenant relationships.