”There seems to be an industry-wide problem around transparency and real-time information,” said Ryan Benevides, a portfolio manager with Kennedy Wilson Europe. Learn how the KWE team adopted VTS to resolve this very problem.
Ryan Benevides, a portfolio manager at Kennedy Wilson Europe, oversees all analytics, reporting, and technology for the firm’s asset management function. Understandably, he’s focused on making sure his team is leveraging the right data to make the best letting decisions.
But, this was often a lot harder than it needed to be. ”There seems to be an industry-wide problem around transparency and real-time information,” said Ryan. “It’s hard to get the right data around letting or even the rest of the spaces within a portfolio.”
He continued, “One of the key frustrations was trying to get at data that we know exists. The data lives in one form or another, but the team had no way of quickly aggregating it and analysing it.” In other words, “We were spending so much time just gathering the information rather than actually using it for any good purpose.”
Ryan and the rest of the Kennedy Wilson Europe team began searching for a solution to the problem.
“We were very happy to find VTS because it had a strong presence in the UK market and had already built an elegant solution to our problem,” he said. “It didn’t take much to sell the senior leadership on the value of this type of platform.”
Kennedy Wilson signed up for VTS Landlord Institutional and started the onboarding process.
“The asset manager and their letting agent have so much time back in their day thanks to VTS,” said Ryan. ”They no longer have to spend a disproportionate amount of time just collating data. They can now act on it.”
He continued, “Asset managers can spend that time becoming an expert in their market and their sectors. Rather than spending time at their desk, they can be out meeting the people who will become our prospective tenants or meeting the brokers who are going to interact with tenants on our behalf.” With a more informed perspective, the rest of the asset management and letting process is just so much more efficient.
Ryan is a major believer that the property sector is ready to embrace technology. “Technology is going to move the industry forward,” he said. “In just a few years, VTS and other technologies are going to be part of the toolkit of every asset manager. Using technology is going to be something everybody is going to have to do.”
He added, “People understand that you perform better and faster with more information and thus more knowledge and make better decisions because of technology. Technology is becoming an integral part of the formula for success as a property firm.”