Manually tracking and comparing property performance among their entire portfolio was difficult to establish in an efficient way to view current, past, and projected performance. With multiple projects to manage, including recent acquisitions of value-add properties, having a pulse on ROI is crucial.
To support their portfolio’s growth, the need to have one single source of truth of each property’s data and performance became a high priority. The GSH team believes in utilizing technology to explore new avenues of growth and opportunities. After review, it was clear that Lobby CRE was the technology partner to help them achieve their goals.
Working off of 10 Excel sheets, unorganized datasets, and multiple property reports were eliminated with Lobby CRE. With the ability to have real-time access to all property data, the GSH team can compare property performance across the entire portfolio and monitor specific KPIs inside each property.
“Lobby CRE has provided a necessary capability to measure our portfolio, which is ever-growing,” said Itamar Laufer, Asset and Client Relationship Manager.
Not only are they able to analyze properties faster, but the team has the ability to track each of their renovation projects from one report with Lobby’s Renovation Tracker. The Renovation Tracker provides quick answers to percent complete actual vs. target, expenses, overall budget vs. PTD actual, visualizations of budget thresholds, and completion progress.
Lobby has been a useful tool to scale GSH’s business, releasing the pressure from the data bottlenecking that was taking place, and providing the opportunity to focus on new projects and growth. With the ability to consolidate information and streamline reporting, the team is able to provide transparency and improved communication to their investors.
“We’re looking at properties every day with plans for additional acquisitions this year. The need to automate our operations, remove bottlenecks, and have a pulse on KPIs was critical to support the growth of our portfolio,” said Lis.