Based on our deep knowledge of both systems and property operations, Verdextra was engaged by a global property investor to transfer its critical lease data from an old to new software platform.
Philippa Gill, Head of Real Estate / Felipe Malpartida, Head of Finance & Operations
While it is perhaps not the most joyful of tasks, ensuring accurate lease administration data is fundamental to the engine of real estate. Without it, billing cycles, occupier information and rent rolls would not be possible.
Verdextra has in-house experience of choosing, implementing and running real estate (and other) databases. They are complex and do not usually allow for easy data transfers, either from one software product to another or between versions of the same software.
Following a number of failed attempts, our Client reach out to us to ask us to help move data for two large real estate funds into a new platform, Read their testimonial below.
Attention to detail and property expertise
Existing lease data was held in an obsolete version of the software. A mapping exercise was undertaken to confirm the transfer method of the lease information (including rental figures, lease dates, lease rollovers etc).
Due to a lack of reliable, automatic conversion options, Verdextra's real estate team created a methodical process and manually transferred the data from two European funds into the new system.
A suite of critical financial outputs and reports were used to compare the old/new data sets.