WAG™ Web Application Generator

Lease Renewals

App Maker WAG™ Web App Generator Lease Renewals Case Study

Industry
Global Real Estate Investment Trust
Data Sources
Realm (CTI) Property Management and Accounting, Property and Asset Management, Internal Data Warehouse, Tracker Total Relationship Management
Business Problem Solved
Streamlined Lease Renewal Process
Solution
WAG™ Web Application Generator created Lease Renewals Application

Business Problem

  • Lost tenants due to tenant loyalty to 3rd party leasing agents, lack of direct tenant communications, and a cumbersome lease renewal process involving a tremendous amount of paperwork.
  • Continued dependency on 3rd party leasing agents who swayed tenants to competitor’ properties.
  • Lack of control on lease renewal interaction with tenant; no ownership of the relationship with each tenant.
  • Difficult to forecast lease renewals.

Competing Technologies

  • Custom Developed Application: development was outsourced to India and failed.
  • Originally was estimated at $210,000, 9 calendar months to develop pilot.
  • Pilot came 14 months later and was rejected by business managers as inadequate – not addressing original requirements / need, some requirements and top business managers had changed during the time it took to develop the pilot.
  • Vendor could not successfully integrate with data from property management systems.
  • Issues tracking spreadsheet had 650 bugs listed.
  • 4 weeks into the pilot the project was cancelled.

Solution

  • WAG™ Web Application Generator™ solution developed by 3 division heads (non- programmers) in 2 weeks.
  • WAG™ solution automates the entire lease renewal process including: ongoing tenant satisfaction, notifications to tenant and property managers of lease expiration, offers to renew, communication and meetings with tenant by internal people, such as property manager, to renew lease, enabled a well- managed renewal process.
  • Built-in automated legal document exchange between tenant, landlord, attorneys and agents, allows managers to see where each renewal deal is at any given time.
  • This is a multi-tenant software solution serving tenants that lease in office properties… Each software tenant is able to logon, experience ‘their own system’, and progress on their lease renewal.
  • Entire project completed without writing any Custom Code.
  • Entire project completed without creating a single database object.
  • This application runs on Windows Azure.

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