Megalytics Introduces Tenant Monitoring
This announcement is kind of big news in the commercial real estate risk management space. Our portfolio company Megalytics rolled out a new SaaS product. It’s the first of its kind automatic tenant monitoring product designed to inform property owners of the ongoing risk of leasing to their tenants. Megalytics is based in Chicago.
Suppose you own a building and you do all the upfront diligence to make sure a potential client can pay? By the way, Megalytics does that too. The paperwork gets signed, and the tenant moves in.
As we know, things don’t remain static. What if the financial position of the company you did the deal with changes? How do you know? If things are getting problematic, they aren’t going to tell you.
The value of properties could drop if a key tenant were to default and there was no early warning mechanism. Megalytics tenant monitoring solution can track any and all tenants of any size. It can be set up with different levels of alerts based on the severity, such as a text message for a bankruptcy to an email for a merger/acquisition to and on-line dashboard for all news and other items.
Dashboards can be set up to monitor entire properties, a portfolio, just the key tenants, or by property type or by asset manager. There is tremendous flexibility and tenants love the quality of the information, both positive and negative. One client was surprised to find out that the tenant had taken on an enormous amount of secured debt reducing their position in the event of a bankruptcy.
The new platform taps data from numerous sources just in time. It automatically and continuously scans, classifies and filters volumes of data and delivers alerts, reports and notifications to clients covering all their tenants.
This is a unique way of being able to assess and quantify risk. It’s something that was never done or just done by gut feel before. Or, it was imprecise and done arduously by hand. It’s just one of the ways technology is helping people understand and execute their business leaving them with more time to concentrate on what matters, customers and return on capital invested.
Source: http://pointsandfigures.com/2018/12/11/megalytics-introduces-tenant-monitoring/
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