- By Billy Fink
- July 26, 2017
Check out some of the latest improvements to the VTS platform! If you missed it, we also brand new functionality to export your leasing activity report in a customizable PDF.
There is a new new deal stage: “Legal”
Previously, there was no way to indicate in VTS that the legal team was reviewing a deal. But, now that’s changed. We’ve added a new deal stage, “Legal,” that lives between “LOI” and “Lease Out.” By adding the Legal stage, you can now signal a deal is in that stage and quickly find out which deals are currently in legal review
Improved co-tenancy clause
Lots of brick & mortar retailers are closing right now. Retail owners don’t have a fast way to assess risk due to co-tenancy clauses. To help with this issue, we recently released a more detailed version of co-tenancy clause. It has named co-tenancy type, exerciser, description, and more. And you can generate a report to quickly see co-tenancy for a specific tenant. You can now quickly identify those tenants that may be at risk if a certain tenant leaves or closes.
Improved exclusive use clause
Retail landlords consistently need to check to see if an existing tenant has an exclusive use for this type of retail before doing a deal. It’s very time-consuming and difficult to figure out. VTS now tracks more information around the exclusive use clause and notify you if you are at risk of breaching one of the clauses. Never worry about breaching exclusive use again.
You can now name a deal in VTS Tenant Rep
In cases where a retailer isn’t moving into an existing space, it was difficult to create a retail deal in VTS Tenant Rep because you couldn’t name the deal. Now you can name deals!