Use cases

MYRE, the application to simplify the management of a rental portfolio

Northwood Investors International
Nov 13, 2019
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Sophie Kramer is an asset manager at Northwood Investors International. Discover the challenges she faces and the solutions MYRE brings everyday.

Can you describe your job and its issues?

I am an asset manager: I am in charge of the buildings that we manage: tenants, rents, legal, technical, financial and administrative issues. My goal is to ensure is that the buildings are rented and that there is no vacant spaces.

In order to do so, I need to be aware as soon as possible if a space is vacant, know all about its accurate area its rent, and be able to report specifically on the marketing, at any time.

Before using MYRE, what were your daily problems?

Before MYRE, we multiplied emails to exchange documents. This led to downloading, storing and searching all this information. A real waste of time and energy.

In addition, our information was gathered in Excel files, which the property managers sent each quarter. But these files did not necessarily have the same format, never took into account the same criteria, the indexing of rents was quarterly and there were inevitably potential errors of calculation that we had to redo.

In summary, the information we worked with was unreliable.

What are the concrete benefits (time, energy, efficiency)?

MYRE has made my life easier!

Thanks to this solution, the data are reliable, the calculations are accurate and the indexation of rents is automatic and daily. I can refer to the rental status which is always updated and I know from day to day the exact value of the lease. Similarly, from the MYRE platform home page, you can quickly see when a space is vacant. So, when a tenant calls me, I can tell him quickly how many square meters are available and at what price. It's very useful.

Thanks to this solution, the data are reliable, the calculations are accurate and the indexation of rents is automatic and daily.

Moreover, as soon as I need to refer to a lease, rather than looking in paper documents or in my drive, I check directly into MYRE’s data room and find everything I need very quickly . I can then communicate the information to the auditors, accountants, brokers or tenants at any time. It is definitely a real gain of time.

We have about sixty tenants in our portfolio and each quarter we sign 2-3 new leases or we amend the current leases. The property manager will directly input the leases amendments into MYRE and I only have to check and validate.

Finally, MYRE makes it possible to dispense with the emails and storage in digital files thanks to its centralizing platform. Once again, it saves time and efficiency!

Do you see an evolution in your relationships with your employees?

Relationships with my collaborators and staff, especially the property manager, have been simplified since MYRE was implemented. No more misunderstanding, doubt, or irritation due to the search for documents. When someone needs a technical document, I tell them to look directly into MYRE and the associates find what they need simply.

What vision do you have of your job?

Our business has evolved quite dramatically from an organizational point of view.

Before, when we were many people working at the same time on the same asset, we kept our digital files on our own clouds, in places inaccessible to others. Working in England and some of my colleagues in France, we did not have access to the same hard drives.

Every time we tested it for a sale, all the data and documents were up-to-date and above all centralized and accessible to everyone.

It's been a year and a half since we used the MYRE solution and every time we tested it for a sale, all the data and documents were up-to-date, which is quite rare, and above all centralized and accessible to everyone: leases, technical documents, insurance, etc.

This entry into the digital world has changed our business. Less time for more efficiency and reliability. This is the future of our business.

How do you perceive MYRE's support in deploying the solution?

We have a very good relationship with MYRE teams. First of all, we know the people who take care of our account. As soon as you buy an asset, they are the ones who set up a dedicated environment. This set-up is also made efficient with customized trainings and demos, especially with property managers, to show them how to input new documents and data.  

In addition, we have set up a weekly call with MYRE, which teams we can call anytime if needed: a kind of hotline to make sure everything is fine and everything is up to date.

MYRE teams are very responsive. After-sales service is efficient and reassuring.

To try it is to adopt it ?

I strongly advise the use of MYRE, it is an easily searchable interface which centralizes an up-to-date information.

It is an excellent and very useful tool for sales, which makes everyday life easier. For me, it has become an indispensable tool.

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