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Increasing Reporting Efficiency and Developing Stronger Tenant Relationships with VTS

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Merritt-Logo

Asset type

Industrial, Office, Retail

Portfolio size

16.7M SF

Regions

Baltimore & Washington D.C.

Established in 1967, Merritt Properties is a full-service commercial real estate firm with more than 16 million square feet of office space in more than 70 locations. The firm owns and manages more commercial space than any privately-held developer in the Baltimore/Washington area and is well known for having strong relationships with its tenants. The company initially turned to VTS when they were looking for a more scalable and efficient way to manage information on leasing activity, occupancy, and tenant relationships. Since becoming a VTS customer, they have transformed their leasing and asset management processes.

 

VTS has helped Merritt maintain great relationships with our tenants. We have a better sense of what’s happening in our portfolio and we’re generally more responsive. We can start on that renewal a little quicker since we have all the right data — and we can track all the deals on our phones.”

Jean Farnsworth, Leasing and Market Research Analyst

Challenges & Roadblocks

Why Merritt Properties needed to transform their approach to leasing and asset management

Difficult reporting process

Before VTS, it was often challenging for Merritt’s analysts to consolidate and report on the company’s leasing activity and occupancy. With 12 leasing agents across two offices, this information was spread across multiple sources – spreadsheets, phone calls, post-its, Google docs, and more. What’s more, it was tough to standardize the data and confirm its accuracy. Yet, the company needed insights from this data to make the best leasing decisions.

Solution

Transforming the leasing and asset management processes at Merritt Properties

Faster, more accurate reporting

With VTS, Merritt’s analysts can now instantly generate the reports they need, saving them hours per week, and inter-team communication on deals is much easier. Merritt now manages all leasing and occupancy data in one central place, and every leasing agent is responsible for entering their activity into the system. This has also helped the team develop strong tenant relationships – since they have the right data, they’re able to start renewal deals faster and track all tenant details on their phones.

Results

20+ hrs/month

saved on reporting, per analyst

VTS has completely changed the way we report. I used to spend 5-6 hours a week to prepare the reports or to answer questions. Now I can do it with just the click of a button.

Merritt-Logo

Jean Farnsworth

Leasing and Market Research Analyst

See what VTS can do for you.