Caroline El-Khayer and Guillaume Herpin are property managers at CBRE. Here is their feedback from their use of MYRE solution and the way they face their careers’ challenges.
Can you describe your job and its issues?
As property managers, we are in charge of real estate assets’ rental management.
In practical terms, our missions range from the draw-up of expenses budget to their accrual regarding the buildings we manage. We invoice rents and expenses to tenants as well as any additional billings like taxes, insurance ... We are in charge of the relationship with various stakeholders (owners, asset managers, notaries, bailiffs, facility managers, accountants and / or auditors ... as a non-exhaustive list) and especially with tenants, for any question related to their commercial lease. We also take on reportings to our clients, whether in writing or at regular meetings about day-to-day management.
Before using MYRE, what were your daily problems? What issues did you face?
We input all the data about building management (leases, start and exit dates, rents, invoices, taxation, surface surveys, budgets)in our in-house management software. However this software cannot be accessed by our client, the owner.
So, before MYRE, when the owner wanted to get a document, he had to call us. It was the same for the asset manager, who contacted us for any information he needed. The processing time was therefore linked to exchanges with many people.
What are the practical benefits from an organizational perspective?
As far as data storage is concerned, we upload all the information into MYRE platform to grant the owner with a real-time transmission of documents or reporting.
Therefore, the owner has access to all the information he may need even when we are out of office. Hence, communication is much easier.
In the same way, in the case of a team turnover at CBRE or whatever changes we may experience, the data is saved under MYRE no matter what, and is therefore extremely reliable and cannot be lost.
What is the point of centralizing information on a platform?
First, the data is secure because the owner customizes access rights for each stakeholder on MYRE. If he decides to terminate our mandate, he can also suspend our access to his data.
MYRE saves time in communication with the owner, enables faster transmission of information, and lifelong data storage.
In addition, in the case of a disposal, the owner will have at a glance a completed data room ready for due diligence process since all documents, even those not related to the PM’s mandate are centralized in it. It is therefore a real time saver.
In short, the MYRE platform saves time in communication with the owner, enables faster transmission of information, and lifelong data storage.
Does this allow better communication with the asset manager?
The asset manager saves time as he no longer has to go through many people to access data. He has direct access to any information he may need. The mails asking us to transfer documents dramatically plummeted since we implemented MYRE and our exchanges with the owner become more smooth.
Is the collaborative aspect something new? How do you like it?
This collaborative aspect is very interesting since it allows instant access to a complete and secure database for a real estate property.
Our business is constantly evolving, we are being asked for more and more customized reports and this is where this tool is very useful and makes perfect sense.
The platform is open to all stakeholders working throughout the life of the building (the property manager, the owner and various stakeholders: accountant, chartered surveyor, etc.), through differentiated access rights (whatever job they may have or company they work at).
Would you recommend it to peers?
As far as the data room and electronic document management are concerned, MYRE solution is really useful.
In addition, as our business is constantly evolving, we are being asked for more and more customized reports and this is where this tool is very useful and makes perfect sense.
Another very important point: it is significant for us to have access to a service that answers us and MYRE provides its clients with an outstanding follow-up, their hotline being really great! A person is dedicated to us, with great availability. MYRE also organizes trainings on the spot, which is very valuable.