Leading AI Company, Okapi AI Launches New Tenant-Lease Risk Management Module for CRE in Response to COVID-19
COVID-19 arrived and spread across the globe and shined a glaring light on Risk Management – or lack thereof. This pandemic has landlords, leasing and asset managers wondering what their exposure is. How can they mitigate a downside that is sure to be devastating? For most, the current process involves asking their Finance team to prepare an assessment based on limited data and/or asking the Property Management team to assess level of risk based on “gut feeling”. With all that has transpired in this “new normal”, CRE executives agree, this manual solution is not an effective way to gauge and prepare for potential tenant risk moving forward. This leaves CRE executives searching for a technology solution that analyzes risk beyond credit score and financial statements.
In response to the needs of our CRE partners, Okapi has developed Tenant-Lease Risk Manager. This new module extrapolates real-time customer data that affect risk, such as: headcount change, industry risk, stock value change, employee ranking, building usage, employee density, service level, aging rent payments, news and media mentions, website traffic, sentiment analysis scores and percentage of COVID-19 spread by city. The Okapi engine connects this Tenant Risk Profile to lease information such as termination clauses, encumbrance clauses, rent comparison to market, tenant improvement allowance etc. Once the data is extracted and unified it allows CRE executives to use the new Risk Profile to predict leasing relief scenarios such as termination, abatement, renewal, default and more in order to best optimize for cash flow and increase asset value. CRE executives have discovered this is far too much work for a human to accomplish manually and recognize the need for an AI based solution.
With Okapi’s Tenant-Lease Risk Manager, CRE executives can make data driven decisions to navigate risk caused by COVID-19 while providing a Risk Management framework as we emerge from the pandemic. By using the power of AI and ML to process data from internal data sources, external data sources, third-parties and various internal business systems, Okapi predicts ongoing Tenant-Lease Risk and gives teams the tools they need to mitigate those risks.
Okapi welcomes the opportunity to partner with progressive CRE companies and are seeking 2 additional design partners with full access at no cost for 90 days. If you’re ready to quantify and model your organization’s Risk Map, Email [email protected] to schedule a demo.