Note: this article refers to Least; now Kato.
If you are reading this then you may well have already seen two articles we published, namely the problem with commercial leasing and what occupiers experience in commercial leasing. Here is how Least can help solve these problems and why we think Least, put simply, is a no-brainer technology solution for any commercial landlord.
We built Least to improve efficiency in the leasing process and ultimately reduce void and resource costs for landlords as well as their agents. Inefficient practices such as chasing on deal progress, logging email correspondence and seeking approvals are low impact tasks. Empower your team to work smarter using Least.
The average time taken to negotiate HoT’s and close a commercial leasing deal is 14 weeks. This comes at a significant financial cost to landlords - loss of income, empty rates and having to cover property running costs, but also carries the cost of impacting business operations - deal certainty and resourcing. By reducing this transaction void to 32 days (the current average for our clients) Least can also help you significantly reduce these costs.
Least empowers your entire team, internal and external, to take control of commercial leasing. It allows all stakeholders - landlord, agent, occupier, lawyers and property managers - to work from one source of truth and have transparency over documentation, HoT’s negotiation and deal status.
Our digital negotiator removes the back and forth email and track-change correspondence between stakeholders, mitigates the risk of lost email communication and encourages prompt responses. The property industry is mobile and Least empowers your agency team to negotiate whilst on the move using any device. Your team is given a consistent digital set of Heads of Terms (meaning no risk of copy and pasting rouge text) and Least’s comprehensive digital clause bank means that keeping your Heads of Terms up to date is easy.
Most importantly for oversight of your leasing - the landlord dashboard will give you control and visibility over the leasing cycle providing real time notifications on your portfolio, so you can pre-empt and avoid delays. With leasing conditions set to become more challenging, it's more important than ever to be on top of your leasing.
With the landlord/tenant relationship having been reframed to one of partnership, a key benefit of Least is the occupier experience it delivers. Occupiers are invited to the platform to seamlessly onboard and negotiate, whilst gaining immediate access to all property information. Expectations are set clearly and they enjoy a streamlined digital experience through their negotiation.
At Least we are constantly evolving our occupier experience - our recent integration with Thirdfort means that all AML checking is now done on platform further reducing admin tasks for occupiers and allowing them to concentrate on their core business. Occupiers have increasing choice over who they do business with, enhance your reputation in the market and illustrate that you are an easy to deal with, digitally enabled business!
If you are interested in learning how other clients have used Least to reduce transaction voids by c.10 weeks and improve occupier experience please get in touch.