Is there an ARGUS alternative for monitoring tenant and covenant risk?
There is no single ARGUS alternative for tenant and covenant risk, because ARGUS Enterprise is a valuation and cash flow tool, not a credit monitor. Funds keep ARGUS for valuation, use ARGUS Intelligence's tenant analytics for concentration and expiries across the portfolio, and add a credit monitoring service such as Creditsafe, Dun & Bradstreet, Experian, CreditRiskMonitor or Moody's for covenant alerts. Scayled is not an ARGUS alternative and does not monitor risk. It is what a fund runs when a risk turns into a vacancy: 250 to 350 businesses the unit suits and the person who signs at each.
- What does ARGUS Enterprise do, and what does it not do?
- Does ARGUS have any tenant risk features?
- Which tools monitor covenant risk alongside ARGUS?
- How do you connect covenant data back into ARGUS?
- What should a fund do when a covenant risk becomes a vacancy?
- Is Scayled an ARGUS alternative?
What does ARGUS Enterprise do, and what does it not do?
ARGUS Enterprise, from Altus Group, models property cash flows and valuations. Each lease rolls into market leasing assumptions, including renewal probability, downtime, incentives and letting costs, and the model produces income and value under those assumptions.
It does not watch tenants. A covenant change only reaches an ARGUS model when someone changes an assumption, such as a lower renewal probability or a credit-loss allowance.
Does ARGUS have any tenant risk features?
Yes, at portfolio level. ARGUS Intelligence includes tenant analytics that group each tenant's leases across the portfolio to show its share of NOI, upcoming expiries and below-market rents, which exposes concentration that property-by-property reports can hide.
That analysis is drawn from the fund's own ARGUS lease data. It shows exposure to each tenant, not the tenant's credit, so funds pair it with an external credit service.
Which tools monitor covenant risk alongside ARGUS?
Creditsafe, Dun & Bradstreet and Experian offer company monitoring with alerts on score, filing, legal and director changes. CreditRiskMonitor's FRISK score estimates the probability of bankruptcy within twelve months and is strongest on public companies. Moody's provides tenant credit data for rated companies and markets an early warning system for CRE loan portfolios. Equifax offers a CRE tenant risk assessment.
Inside the system of record, Yardi and MRI hold arrears and payment history, and Yardi's lease management tools support tenant risk ratings. Prices for all of these are on quote.
How do you connect covenant data back into ARGUS?
Agree rules for how evidence changes assumptions: a credit alert, sustained arrears or news of a site consolidation lowers the renewal probability or adds a credit-loss allowance for that tenancy, and the evidence is recorded with the change.
Review the tenancies with the largest income at stake each valuation cycle, so the model reflects what the team actually knows rather than a blanket assumption.
What should a fund do when a covenant risk becomes a vacancy?
Work the tenant and the unit together: review guarantees and security, consider a restructure, and start the replacement search before the unit comes back, because downtime is where most of the cost of a departure sits.
Scayled runs that search. With the unit's size, use and intended occupier as the brief, it delivers 250 to 350 suitable businesses, a checked contact for the decision-maker at each, and personal emails, ready in about five working days.
Is Scayled an ARGUS alternative?
No. Scayled does not value assets, model cash flows, monitor covenants or score tenants. Keep ARGUS for valuation and use the credit tools above for covenant risk. Scayled fills the vacancy when a risk comes true.
When a risk does come true, the fund pays once for The Campaign on that unit: US$749 for the Full 250 to 350 businesses, or from US$449 for a Focused 100 to 150, with no subscription and no commission. It runs alongside any appointed agent, and what goes into a leasing campaign is explained separately.
Lease The Vacancy In-House, Before You Appoint An Agent.
The Campaign finds the 250 to 350 businesses the building suits, names the person who decides at each and writes every email, ready in about five days. One payment of US$749 per property, no commission and no subscription. A focused 100 to 150 from US$449.