Asset managers have a lot of important things to do – things that can add considerable value to the portfolio. They need to be planning recapitalizations, optimizing portfolio cash flow, setting priorities for operating and capital initiatives, negotiating with regulators, lenders and partners, and providing constructive input on the next new deal. But too many asset managers find themselves mired in chasing data, tracking and reporting, and responding to today’s operational problems, without the time or data to focus on the issues that really move the needle for the organization.
What if you could free up 10-15 hours per month for your asset managers to work on value-add initiatives? MRI Software and TCAM asset management services can help return those hours to your staff and provide them with the information and analysis to focus on the big-ticket risks and opportunities.
Let’s look at two examples of clients who used TCAM asset management services to leverage their staff’s time and meet the challenges of growth.
Use Case 1: Strengthening portfolios from the top down
Business Challenge: A client with time management concerns in the higher levels of their business needed to focus more on development, acquisition and other priority portfolio issues. They had too many members of their staff, including senior management, devoting time to the oversight of their growing portfolio.
Solution: Asset management services provided consistent and reliable property direction and oversight.
Business Impact: As a result, the client was able to increase property cash flow, improve risk management at a lower cost, and better leverage senior management’s time. The fresh perspective and focused management reports provided by asset management services led the client to a better understanding of their portfolio’s issues and opportunities.
Use Case 2: Organizing data for better risk management
Business Challenge: An affordable housing owner was dealing with a situation in which their portfolio had grown, but they didn’t feel they had the right tools to accommodate that growth. The owner was still managing off spreadsheets and finding it difficult to attract and retain asset management staff with the requisite skills and experience.
Solution: Asset management services gave the owner the ability to track and monitor key information.
Business Impact: The owner’s portfolio data became more organized, complete, and usable, and their property performance opportunities could be identified on a timelier basis. An asset management service allowed the owner to utilize more effective and proactive risk management practices, shoring up the portfolio against unwanted surprises.
These are just a few ways that TCAM asset management services can help multifamily owners and operators reintroduce efficiency into their processes and free up their asset managers to take on more pressing and important issues. Learn more about TCAM asset management services in this webinar.