How do funds track tenant movement across an industrial portfolio?
Funds track tenant movement by keeping one record per tenancy that combines the lease diary from Yardi, MRI or VTS, credit monitoring alerts from a service such as Creditsafe or Dun & Bradstreet, news alerts on the tenant's name, and notes from regular conversations about its plans, then reviewing it on a set rhythm ranked by income at stake. Scayled does not track tenants. When a tenant is confirmed or likely to leave, it finds 250 to 350 businesses the unit suits and the person who signs at each, so re-letting starts before the handback.
- What counts as tenant movement?
- What should a tenant tracker record?
- Which tools do funds use to track tenants?
- How often should you review tenant movement?
- How do you report tenant movement to an investment committee or lender?
- What happens when a tenant is confirmed to be leaving?
What counts as tenant movement?
Anything that changes how much space a tenant will occupy, or where. Notices of non-renewal or break, requests to expand or for more yard, requests to sublet or assign, contraction inside the unit, a merger or acquisition that puts two networks together, and insolvency.
Most of it is visible before a notice is served, in what the tenant asks for, what it announces and how it pays. The purpose of tracking is to catch that early enough to act.
What should a tenant tracker record?
For each tenancy: the tenant and guarantor entities, rent and area, lease expiry and break dates with their notice periods, payment history, the latest credit alerts, news since the last review, and the asset manager's notes from the most recent conversation, with dates. Add a short judgement (stay, uncertain, likely to leave) and the evidence for it.
Add one line on re-letting: how deep demand is for the unit if the tenant goes. A unit many businesses could take is a smaller risk than a specialised one, even at the same rent.
Which tools do funds use to track tenants?
The lease system (Yardi, MRI or Re-Leased) for dates and payments. VTS for lease roll and tenant relationships. Creditsafe, Dun & Bradstreet or Experian for credit alerts, and CreditRiskMonitor for listed tenants. Google Alerts or a news service such as Factiva for each material tenant's name.
Many funds still hold the combined view in a spreadsheet or a BI dashboard over these sources. The tool matters less than keeping one record per tenancy that everyone on the team uses.
How often should you review tenant movement?
Review material tenants at least each valuation cycle, and the watch list of uncertain or weakening tenancies more often, for example monthly. Credit and news alerts should reach the asset manager as they arrive, not wait for the review.
Rank the list by income at stake multiplied by the likelihood of losing it, adjusted for time to the next lease event, so time goes to the tenancies that matter most.
How do you report tenant movement to an investment committee or lender?
Show income at risk by year and by asset, the tenancies on the watch list with the evidence behind each judgement, and the action under way on each: renewal talks, a regear, or a replacement search. Committees and lenders respond better to a dated record of evidence than to a score with no source.
Show replacement depth for the larger exposures as well. A list of named businesses the unit suits is concrete evidence that downtime has been planned for.
What happens when a tenant is confirmed to be leaving?
Start the replacement search immediately, ideally while the tenant is still paying rent. The tracking record already says roughly when the unit comes back; Scayled supplies who could take it: 250 to 350 businesses nearby and across the market, each with the person who signs, a checked contact and a drafted email, in the owner's Scayled account in about five working days.
The cost is one campaign per unit, US$749 for the Full version and paid once, with no commission on the letting; a smaller unit can start Focused from US$449. Approaches are written as the owner, so replies come straight back to the fund's team. The re-let itself is covered in finding a tenant for a vacant industrial unit.
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.