All Insights users can now gain a clear understanding of how enhancing your property, area and tenancy data stored in Re-Leased will help drive the accuracy and effectiveness of your commercial real estate portfolio. With an easy-to-understand Data Diagnostics dashboard, you can now delve into a high-level data analysis that quickly reveals which one of your property, tenancy or area information is currently missing and where improvements can be made.
You'll find the Data Diagnostics dashboard under the Operational suite of dashboards on the left-hand side of the Insights navigation menu.
At the top of the page, you'll find the data diagnostic highlight score tiles including your overall Property Score, Area Score and Tenancy Score. The overall quality of your scores is directly linked to the completeness and accuracy of your data in Re-Leased.
You can also filter your data and drill through the metrics shown in the tiles in order to update any missing or inaccurate information. A comprehensive portfolio data allows you to uncover more meaningful trends, patterns, and correlations that can guide your decision-making.
How to read the information displayed in the diagnostic tiles?
The contributing metrics in the diagnostic tiles are split into two sections:
- A figure that shows how many issues exist in that metric, for example, 17,394 property owners are still missing
- A percentage score that shows how correct the portfolio is, i.e. the closer to 100% the better the score. In the below example, 87% of the portfolio is up-to-date
Conditional color grades
Conditional color grades are available to allow you quickly evaluate your data percentage score's performance using visual cues, with red indicating poorer values (closer to 0%) and green indicating better values(closer to 100%)
Property Data Health
The Property Score tile displays relevant property-related information of the total portfolio and is used extensively to feed into various metrics displayed across different dashboards in Insights. By improving the overall property score percent, users gain a consolidated view of their entire property portfolio, which helps drive successful property management strategies and outcomes.
Property Owner - The property owner, often also referred to as the landlord or property owner, is the legal entity or person who holds ownership of the property. Accurate property owner information enables effective monitoring, reliable stakeholder reporting, and provides more accuracy in the owner insights.
Property Type - The property type information is used within the Operation Summary, Yield and Valuations and EPC dashboard in Insights. Allocating correct property types allows users to scrutinize slices of their portfolio more efficiently.
Property Valuation - Is used to accurately present Yield and Valuation metrics within the Strategic Insights suite as well as to present valuation figures in the Property List report. Without the correct current valuation being present critical metrics like yield will be skewed.
Property EPC - The property EPC rating information is used to inform the EPC rating dashboard within the Strategic Insights suite. For vigilant owners and managers, any revenue or valuation associated with an EPC rating lower than C is being scrutinized constantly.
Property Manager – The property manager information is used to populate information within the Team Performance and Management fees dashboard in Insights.
Property details that require updating can be found using the following paths in Re-Leased:
Area Data Health
The Area Score tile displays an aggregated view of all area-related information and is used extensively to feed into various metrics displayed in Insights. By improving the Area score, users can ensure multiple dashboards include accurate information.
Area size - Area sizes are important for accurately displaying Operational Summary, Tenancy Management as well as Void and Vacancy metrics. This tile highlights all measurable and active areas with an area size of <= 1. Area size is the most widely used common denominator in Commercial Real Estate
Market Rent - Market rent is a growth and target indicator. This is used within the Void and Vacancy dashboard and Executive Summary dashboard within the Strategic dashboard suite.
Area details that require updating can be found using the following paths in Re-Leased:
Tenancy Data Health
The overall Tenancy Score record contains key information used for displaying and filtering various dashboards in Insights. Tenant information is also used extensively throughout various other areas within Re-Leased such as Reporting, Budgeting, Invoicing and Maintenance management.
Tenancy Type - Users with various lease types will find it valuable to examine their dashboards specific to each lease type. This information is used within the Tenancy Management dashboard to focus on a particular contract type and all upcoming events.
Tenancy Form Type – Tenancy Form Type is used as a sub-category for lease types to segment them with further granularity. Tenancy Form Type is often used to highlight the condition of the lease type, e.g. Inclusive or Short term.
Tenant Industry - Two of the most common ways of cross analysing a portfolio are by the property type and the tenant industry. The tenant industry information is used extensively within the Tenancy Industry Exposure dashboard as well as in various reports within the Report Builder.
Tenancies Without Terms – Tenancies Without Terms affects the accuracy of information displayed within the Executive Summary and Void and Vacancy dashboards.
Tenancies Without Rent – Tenancies Without Rent impacts various reports within Re-Leased including the Tenancy Schedule and Tenant List that are available in the Report Builder, as well as Insights dashboards such as Tenancy Management, Operational Summary and Yield and Valuation.
Tenancies Without Areas – Tenancies Without Areas causes a number of disruptions as all activities related to these tenancies displayed in this tile are disconnected from their actual area. Impacts will also be seen on various reports within Re-Leased such as the Tenancy Schedule, Tenant List and Vacating Tenancy Report. This could potentially skew your Void and Vacancy dashboard metrics as well.
Expired Tenancies -Expired Tenancies shows any tenants that have past their expiration date but are yet to be renewed or vacated. If left in this expired state, these tenants are still considered to be current area occupants which skews occupancy rates.
Tenancy details that require updating can be found using the following paths in Re-Leased: