VTS

Avantages

VTS is a great Asset Management and Leasing Tool. It allows an asset manager to physically see the real-time leasing activity, stacking plans, lease roll, and more. VTS neatly organizes all the leasing activity in one location, allowing me as a leasing broker to visually see the deals I am working on and continue to move the ball forward with each one. Tying it into the landlord's lease administration software allows me to look up lease expirations, stacking plans, and encumbrances for quicker and more educated response times. This has been the most helpful piece of new technology for office landlords and leasing agents in the last decade.

Inconvénients

I am having a hard time finding something I like least about VTS, as it is a great tool that all listing brokers and landlords should be using.

Avantages

This package is focused on commercial real estate; others we considered were CRM or accounting programs that had a component of CRE. VTS helps my team with communication and productivity, and keeps everyone up to date with the latest status on deals in progress, prospecting, and overall results.

Inconvénients

VTS is constantly improving and addressing areas that need additional development. Some of the areas that were not strengths have had enhancements and improvements, so areas that we didn't like as strongly have been or are being addressed.

Avantages

With properties we do have on the software, it becomes very easy to track multiple deals at once and stay on top of current prospects.

Inconvénients

The interface is not broker friendly. When inputting terms for a deal including several different term options, it does not create a way to track different terms separate. Also, the commencement dates and RSF do not track over from the original form to the proposal form. Oftentimes when inputting the free rent VTS forces you to input it twice instead of once. If you could automatically put commissions in for all deals to auto-populate that would save a considerable amount of time.

Avantages

Automatic tour notifications when near a building, follow up task updates, email overviews with the recent updates.

Inconvénients

There seems to be a lot of features that are not clear as how to use them. Maybe tutorials would help users better understand unique tools that are accessible on the software.

Avantages

VTS makes it simple to keep all my information on active deals, tenants in the market, and prospects organized in one place. I can also sync it up with my phone (and those of my teammates) to get notifications and updates in real time.

Inconvénients

The NER calculator is average at best. Given how complicated deals are getting now, it is difficult to be able to enter all necessary deal components quickly and easily.

Avantages

I like the mobile app and the ease with which I can send out Landlord updates

Inconvénients

I would like to see more detail on the mobile app when entering in a new deal

Avantages

Revolutionized the way in which i do business. Freed my time up to be away from the excel spreadsheets and work more from mobile.

Inconvénients

at times there is variability in what i can see/edit from mobile vs desktop. I would prefer a fully functional mobile experience. Within the @mention tool i wish there was a way to "reply all" to all previous participants vs re-mentioning them.

Avantages

The ability to organize listings with multiple teams.

Inconvénients

The dashboard in this current version is not as simple and easy as previous.

Avantages

The ability to check current deal statuses and viewing brokers comments.

Inconvénients

I would like to have a better TIMs platform for the entire portfolio and it can match to spaces. Similar to a checklist

Avantages

Easy to use, clean, made me a lot more efficient

Inconvénients

one downside is the limited mobile functionality, only able to read 2 comments/posts per account

Avantages

Visually, quick reference deal activity.

Inconvénients

Often inconsistencies (suite #, SF, etc) when a lease is executed in the deal tracking section, as compared to the spaces and stacking plan section. For instance, I often catch spaces continuing to be shown as vacant even though the deal for that space has been executed. There needs to be a reconciliation step in the deal execution workflow. This makes us often question whether the Occ / Vac calc and stacking plan are current.

For reports, would be helpful for user to have more control over content included in export.

Avantages

One stop shop where all involved can transparently see every step of the process.

Inconvénients

The fact that any user can delete any other user comment is a bit scary; deletion of comments should be limited to only the user who posted. Also, the ability to change the date of a comment should not be allowed as it can confuse the timeline of the deal and required response. Another point, when making any edit to a comment you have made, VTS should not re-email recipients unless specifically prompted; usually just spelling error corrections. (VTS should have spell check). When deleting a document, it should also remove the footprint; as it is now, it will still show a blank post unless you delete that as well. When setting a future reminder, VTS should not email the fact that a reminder has been created, this is not necessary and superfluous.

Avantages

What I like most about VTS is that it is a central database for all of our leasing information across all of our funds. Having a central location where I can go to find any information I need on any given asset helps me work much more efficiently.

Inconvénients

The thing I like least about the software has nothing to do with the software itself. I wish I could get some of our partners and leasing agents to keep the software more up to date and make it more of a priority of theirs.

Avantages

I like how it is a central location for information across my portfolio.

Inconvénients

It doesn't seem like the support team has a ton of insight into where the data is coming from, or how to resolve issues. There have been a few issues outstanding that the VTS team says the property management team needs to adjust, but the PM team isn't sure how. Would be great if the VTS team had more control or could provide better insight into adjusting information (e.g. stacking plans)

Avantages

People can update on their own time and everyone can see those updates once they are completed. Stacking plans are also very helpful when walking buildings (through the App).

Inconvénients

When my leasing brokers do not make updates, but that is on them.

Avantages

The ease of use and a very straightforward interface. Allows me to easily utilize the program for exactly what I need on a day-to-day basis.

Inconvénients

I am not well educated or familiar with additional functions/capabilities within the program. I almost strictly use the program for tracking and have not been exposed to other capabilities.
I also hate how if you upload a contact info as a 'contact' as opposed to a 'broker', I can't pull this information up on the mobile app.

Avantages

I like being able to enter deal terms and track leases.

Inconvénients

There are many fields and wish there was a little more customization with terms popular in Minnesota.

Avantages

VTS is very user friendly. I appreciate all the options and reporting capabilities. I also love the mobile app and the ability to calculate deals in the field.

Inconvénients

Inability to lock certain fields, would like more custom reporting options.

Avantages

I like the ability to set reminders. I like the ability to log information and categorize businesses and deals.

Inconvénients

Not very much customization. I am not able to delete properties. I have to rename them. I have trouble differentiating clients/prospects versus deals done. I do not like two separate tabs for that.

Avantages

The software helps track deals and keep up on top of where we are with each one. Its helpful to get reminders about following up on inquires.

Inconvénients

Lag time when you make changes and it takes a while to show up when you change the stacking plan. Also when I add in deal notes I do not like that what I put in isnt the first deal on the page.

Avantages

I find the feature where a proposal, LOI, floor plan and construction pricing can be uploaded to be very valuable for my owner when doing deals.

Inconvénients

Sometimes it is difficult to include all specifics of a deal. For example when doing a renewal and expansion it is difficult to delineate and compare the deals in one proposal.

Avantages

Easy to use on-line software platform. Puts all of our properties in one place. Easily manage the rent roll, available spaces and potential deals. Collaborate with outside brokers easily.

Inconvénients

Sometimes areas of the software platform change without my prior knowledge.

Avantages

Ability to track history of deals as well as activity.

Inconvénients

Display of a particular deal from the right side of the screen - can't see whole thing.

Avantages

The best leasing workflow process management software out there.

Inconvénients

Not customizable enough. Need to be able to set up the dashboard better.

Avantages

It's helpful for tracking lease activity and understanding tour velocity for each space. It's also nice to get email updates with the leasing updates.

Inconvénients

There are a number of challenges with the way stacking plans show and the numbers are all rounded, which is not useful. For example, in order to get the exact area that is vacant you need to separately add up each vacant suite.