As commercial real estate professionals are well aware, the ability to move as quickly as possible is essential to success in this industry. At the same time, it is imperative that you be able to perform risk assessments in a reliable, accurate manner to ensure that your investments are protected to the greatest degree possible. Cue the introduction for (RE) meter.
While the commercial real estate technology sector is continuing to evolve at a rapid pace, (RE) meter has introduced a completely innovative platform that provides users with a number of high level tools designed specifically for the commercial real estate industry. With this platform, users can gain access to data that is government validated along with the latest software to obtain completely unbiased risk assessments. At the core of (RE) meter are analytics engines that provide powerful underwriting capabilities, thus giving asset managers and landlords the ability to foresee as well as mitigate any potential risks that could pop up within their portfolios.
Although it is a given that real estate investments come with a certain degree of risk, (RE) meter, it seems is determined to help reduce that risk as much as possible.
How (RE)Meter Works
(RE) meter includes a number of different products to help users accomplish their goals. One of those products is the TIL Score™. With this tool, users can quickly and easily underwrite their lease transactions using just three simple steps. Basically, the TIL Score offers landlords the ability to find out as much as possible about tenants. This is made possible by combining the tenant's financials, lese terms, and industry into a comprehensive report. (RE) meter utilizes data from a variety of sources, including from the Department of Labor, the IRS, and the Census Bureau.
Property owners and managers begin by entering two years' of the tenant's income statements along with one year of their balance sheet. Next, the tenant's industry code is selected from the NAICS database. Finally, information related to the deal is entered, including recoverables, base rent, leasing commissions, and inducements. All of this information is then compiled to create the TIL Score.
Performing Commercial Real Estate Background Checks
RE(meter) also gives users the opportunity to run comprehensive background checks, thus making it possible for landlords to screen potential tenants. For instance, before a lease is even signed, landlords can find out whether a prospective tenant is under any current litigation or is current paying bills. Since it's not just the tenant that the landlord needs to worry about when signing a lease, but also the overall health of the company, landlords can also find out detailed information about the company's officers. (RE) meter pulls details from a variety of sources to provide this type of information, including corporate watch list databases. As a result, landlords can view a prospective tenant's complete financial history, including liens, foreclosures, bankruptcies, judgments, and more.
Designed to make the risk assessment process easier and faster, (RE)meter looks like a solid tool.