Commercial Property Manager, Aurora Property Group
Aurora Property is a property management company with a small team but a strong and growing portfolio. The team operates solely in the commercial space managing corporate tenants including office, large format retail, specialty retail and industrial.
Bevan Hames is one of the company's directors, with extensive experience throughout New Zealand and Australia. The company has plans to grow their portfolio and are building out a best-in-class property management team working with Kelly Hames, Director and Amy Mathieson, Commercial Property Manager.
“Commercial Property Management is both art and science,” says Bevan.
“Careful stewardship of a property’s physical space, tenant and contractor relationships, and reputation in the marketplace are all required to maximise returns for landlords.
“We've currently got a very diverse portfolio of assets under management. Our main client is a large commercial property fund who are looking to grow their portfolio to circa $500 million within the next three or four years. We want to grow with key clients like this and as we grow our team, we want to keep our operations simple and agile, with no duplication.
“Amy's our person on the ground dealing with all the tenants, subcontractors and other stakeholders. She is the day-to-day contact for tenants and landlords and has well established regional relationships.”
The Aurora Property team works to deliver maximum returns and confidence for their commercial property Landlords (clients). An important part of this is delivering accurate, regular reporting.
“Our customers are professional directors who are used to seeing a high level of reporting. They don't want to read screeds of information but want data visualised to give them a snapshot of what is going on.
“We need simple reporting that not only looks good but also tells our landlords everything they need to know. And we want to be able to create it with the hit of a button.”
Aurora Property has been working with Caleb Dunn, Product Manager for CREDIA, to do just that.
CREDIA works across almost any property software to collate data and provide real estate businesses with real-time dashboards to understand portfolio performance at a glance.
Key performance indicators such as H&S indices, arrears, yields, lease terms, expiries, and reviews are visualised in an easy-to-digest format that property managers can then brand and export for their clients. This was a key requirement for Aurora Property to help provide a complete overview to landlords.
“Our landlords like to understand where their risks are and what our forecasts look like. The risks include operational risks, such as compliance, building warrants of fitness, and health and safety, and financial risks such as arrears, aged arrears, rent reviews and vacancy.
“The forecasts are about understanding revenue projections, which requires reporting on rent review dates, lease renewals etc, and the likely direction these will go in.”
In addition to providing their customers with snapshot reports, Aurora
Property also wanted the ability to drill down into the data if needed, to interrogate and understand trends. With CREDIA that’s possible in just a few clicks.
This allows them to quickly and efficiently answer questions from owners on trends showcased in the snapshot reports, such as, “Why is the forecast revenue at that level?”
“If additional information is required over and above our initial report, we can easily interrogate the data further in a couple of clicks. This significantly reduces our administration time,” says Amy.
Aurora Property’s customers are generally investing in commercial property for the long term, so the company wants to set up a robust team and processes to grow with their customers.
“Our investors are more often than not intergenerational thinkers when it comes to development and investment. They buy a building and look to hold it for 50 years instead of just flicking it after 5-10 years. We are in partnership with institutional investors that are really in it for the long term,” says Bevan.
“We want our customers to have absolute confidence in what it is we're doing. Confidence is built up through trust over time. You’ve got to be so conscious of data integrity and then how we display and report on that data. Our whole mantra is around trust and certainty with our landlords, and that's a primary focus. If we can be doing that consistently and without having to overthink the process, we'll go a long way to building that trust and confidence.”
CREDIA is an important part of Aurora Property’s long-term business strategy as it establishes robust systems and creates a great environment for their property manager to grow a strong team delivering great results.
“We want to provide our property manager, Amy, with the tools to work efficiently and build a strong team. Tools like CREDIA help build trust not only with our investors but also with our team,” says Bevan.
“The CREDIA team, and in particular Caleb, have been really good to deal with, very responsive and they have spent a lot of time really understanding what we are trying to produce. We have been impressed,” says Amy.