VisionTech Angels Adds Tenant Tracker to Its Expanding Investment Portfolio

VisionTech Angels Adds Tenant Tracker to Its Expanding Investment Portfolio

VisionTech Angels, one of Indiana’s most active angel investing groups, has invested in Indianapolis-based startup, Tenant Tracker, increasing the stable of companies in its investment portfolio to 24. The VisionTech Angels investment was matched by Elevate Ventures.

Tenant Tracker is tenant coordination and build-out software for the commercial real estate industry that transfers paper-based processes to the Cloud, resulting in significant gains in efficiency. The solution, which was created at DeveloperTown, is the brainchild of Mike Kelly, managing partner of DeveloperTown, and local commercial real estate broker Keith Kleinmaier, who serves as Tenant Tracker’s chief executive officer.

Kleinmaier says the investment will have a profound impact on the company. “Until now, Tenant Tracker has relied primarily on friends and family to fund our software development and early commercialization efforts, including an extensive beta test. By closing this $600,000 seed round of funding with VisionTech and other investors, Tenant Tracker can break out of our ‘quiet phase’ and dial up our sales efforts. The market is ready and so are we.”

VisionTech Angels Executive Director Ben Pidgeon said Tenant Tracker attracted a good deal of interest from its network of angel investors in Indianapolis, Bloomington, Fort Wayne, and Lafayette. “Tenant Tracker has the potential to transform an untapped market, commercial real estate, that is very detail oriented and still tied to paper. Our investors liked that Tenant Tracker has a good customer base that is successfully using the software and are validating their revenue model; it’s very impressive in an early growth company.”

VisionTech Angels also appreciates that Tenant Tracker’s roots are grounded in both the commercial real estate and tech industry. Kleinmaier is a licensed commercial real estate broker and worked in the technology industry before joining Retail Realty in Fishers, Indiana, as president. Kelly, Tenant Tracker founder and DeveloperTown managing partner, has helped create, advise, and launch a number of tech companies.

“Tenant Tracker delivers a focused user experience,” explained Kelly. “The software allows users to track property leasing deals, manage construction and build-out status, see detailed property reports, access tenant data, and share status reports. Because it’s Cloud-based, the information is available anywhere, a true benefit to our users who are able to access Tenant Tracker from the project site or back in the office.”

Added Kleinmaier, “With all of this data in hand, commercial real estate developers, owners, and landlords have the ability to be more efficient, move tenants into properties sooner, and in turn, add revenue to the bottom line. Good-bye spreadsheets!”

 

About VisionTech Partners I VisionTech Angels

Founded in 2008, VisionTech Partners is a privately held company that links investors to high-potential, early-growth companies. Based in Indianapolis, one of the nation’s most dynamic startup cities, VisionTech is where inventors, entrepreneurs, investors, universities, and strategic partners convene to share, fund, and launch innovative technologies and companies. VisionTech Angels has chapters in Bloomington, Fort Wayne, Indianapolis, Lafayette, and an affinity chapter for physicians, AngelBom.

 

About Tenant Tracker

Indianapolis-based Tenant Tracker, is the creator of a cloud-based tenant coordination and build-out software of the same name for commercial real estate companies. Tenant Tracker makes it easier for users to track deals, manage construction status, see detailed property reports, access tenant data, and share status reports. Tenant Tracker integrates with current front-end and back-end software, allowing users to seamlessly connect data, while minimizing errors and duplicate entry.

 

Contact: Melanie Lux, mlux@luxandassociates.com, 803.331.4794

4 Attributes of a Successful Commercial Property Investment

4 Attributes of a Successful Commercial Property Investment

Getting ready to buy your first commercial investment property is really exciting. You’ve been saving to get to this point and finally you’re here. However, as a first-time investor, this excitement could lead you to make rash decisions, which would be detrimental to your cash flow in the long run.

To avoid making impulsive decisions, many top investors recommend that you always get a third party to view your property before buying and that you also view the property in the same way an average tenant would see it. If you were a tenant, would you want to lease that space?

Investors simply cannot afford to be complacent concerning the situation of their properties because if nobody is prepared to shell out rent for the space, they're going to find themselves in trouble. In order to reach 100% occupancy in your property, it is important to take into consideration what tenants want from a property. 

The best way to keep a tenant in your property and paying rent is to ascertain that they have nothing to repine about. According to property veteran Margaret Lomas, there are a number of simple ways to keep current tenants happy.

“What commonly sends a tenant looking elsewhere is when there are maintenance or desperate renovations that are left unattended, and when they sense they may just pay the same elsewhere for a space in better condition.”

To get optimum rent and attract the perfect tenants you should know just what tenants look for when they are trying to find a property.

1. LOCATION

Location is, quite famously, one of the top things to think about as it pertains to making a purchase. Research your facts about different local market segments, to check out the ones with strong earnings potential and strong demand. It is also important to consider not only the market in which your property is located, but its position with regards to local amenities and retail competition. This is often best looked at in relation to the type or kind of tenant you want to attract.

2. access

It may seem perverse but usually tenants tend to be more concerned with logistics than the actual address. The key commercial real estate components include ingress and egress access points, proximity to stop lights or intersections, and proximity to major roads to name a few. The most important factor generally tends to be the location and how easily accessible this location is for the tenants customers.

3. exterior condition

Tenants love whatever looks or seems new. As a commercial real estate property owner, you should take pride in things such as parking lot condition, signage, roof conditions, and landscaping. If all of these are in great condition, you are more likely to attract local and national brand-name tenants. 

4. Tenant improvement

Every tenant understands that the fact that another business leased the space before them, nevertheless, they don't want to see or believe that. Turnover is enviable in retail commercial real estate. Being able to manage this process in an organized fashion is critical to your bottom line. Using new tools such as Tenant Tracker (TenantTracker.net) allow you to streamline this important process and move tenants in happier, and sooner. 

Tenant Tracker Makes A Splash At Summer Conferences

Tenant Tracker Makes A Splash At Summer Conferences

 The last month has been tremendous for Tenant Tracker in getting the message out to the industry.  In May, we were fortunate enough to be a part of Disrupt CRE Chicago, a conference that put some of the brightest and best minds in the Commercial Real Estate & Tech space together in one place.  In June, Tenant Tracker was an Exhibitor and Spotlight Presenter at CRE//Tech in San Francisco.

Verge 4/28 Pitch Night Recap

Verge 4/28 Pitch Night Recap

Wow. What a thrill to be a part of Verge’s Pitch Night at the Speak Easy.  I can’t thank Matt Hunckler, Erika Kotterer and emcee Danielle McDowell enough!  What I love about Verge events is the vibe and energy from everyone involved.  From the volunteers setting up to the teams pitching to the awesome attendees, it was electric. 

 

I was fortunate enough to be able to pitch Tenant Tracker alongside our Founder, the one and only Mike Kelly.  Tenant Tracker was one of three tech companies to pitch to the crowd and in front of four talented sharks: Angel Morales, Founder & Chief Innovation Officer of Smarter HQ, Derrick Braziel, Co-Founder and Managing Director of MORTAR, Cincinnati, Erica Martin, Technology Investor and Vice President at Warburg Pincus and Ryan Phenninger, Chief Technology Officer at 250ok.  All had great questions and provided tremendous insight after the pitches.

 

As excited as I was to be in front of the large crowd to pitch Tenant Tracker, it was an honor to be on the same stage with the two other Pitch companies for the night.  First, Noblesville High School Senior Zach Baker pitched his cool app, Pass Whiz.  Hard to believe he started this in study hall at the age of 15!  We will see great things from Zach for many years to come.  Rounding out the night was the very cool story of locally headquartered Odyssey, a social content platform that just announced a $25 Million round of funding 24 hours before the event. Congratulations, Odyssey!

 

The night ended with great lessons and stories from serial entrepreneur Robert Harris.  The crowd learned a lot from his various success stories and how he got to where he is today.

 

Thanks to all that came out to the event at the Speak Easy. I enjoyed interacting with many of the attendees and sharing the story of Tenant Tracker.  And if you made it this far, I’ll make my plug again that we are hiring a Senior Developer – contact careers@tenanttracker.net if you are interested. 

 

It was a perfect setting for great pitches and networking.  Looking forward to the next Verge event…

Tenant Tracker Is Hiring A Senior Developer!

Tenant Tracker Is Hiring A Senior Developer!

We are excited to announce a job opening at Tenant Tracker for a Senior Developer role.  Our traction in the marketplace over the last six months has fueled our need to expand our development team.  It’s an exciting time to be a part of this Commercial Real Estate Tech Startup.

Our offices are in the heart of South Broad Ripple at DeveloperTown.  Know of some rock star developers you’d like to refer?  Check out the listing below and reach out to us at careers@tenanttracker.net.

What is Tenant Tracker?

Tenant Tracker is a SaaS application improving the process of tenant coordination (TC) in the commercial real estate (CRE) industry. Most tenant coordination process relies solely on spreadsheets and e-mail. We’re changing that by automating the process and delivering tools that provide new insight into the process and data behind the TC process.

What do we offer?

We’re a startup with a culture defined by its early members, which means you can help define our culture. We offer full benefits and flexible schedule. We care more about what you’re doing than where you are or when you’re doing it. We need to collaborate to deliver high-quality services, so you’ll need to work the hours of a normal human being. We all have lives and other responsibilities, so we’re flexible.

What will you be doing?

  • Help to define the product that improves the lives, and let's be honest, profits of our customers and their employees.
  • We have big plans to further change the game in both tenant coordination and CRE tech in general. You’ll be a key component in making those plans possible.
  • We’re growing. In order to grow, we need to improve some of our processes that are holding us back. You’ll be working on moderate to advanced application architecture.
  • We also have customers. We’re a small team so we share the responsibility to make sure our customers are happy. You’ll primarily participate in this activity by gathering and implementing customer requirements. Common customer requests are reporting and integrating into external systems like Salesforce.
  • We deploy every Wednesday and so will you.

Who are you?

  • 5+ years experience in building, maintaining and growing SaaS applications.
  • Expert-level knowledge of Ruby + Rails.
  • Language flexibility. We’re primarily focused on Ruby + Rails, but we use the best tool for the job and the core language or framework may change as the application evolves. We recently added React to the stack, so you may need to get a little familiar with it.
  • General web development skills in HTML, CSS, or JavaScript.
  • Experienced server administration: Linux, Postgres, AWS platform
  • Experience with Postgres and database architecture.
  • We test with Rspec. You don’t have to BDD or even TDD, but you must write tests.
  • Version Control: Git

If you feel you are a good fit to the team, please contact us at careers@tenanttracker.net.

Why A Tenant Coordinator Is A Landlord’s Best Friend

Why A Tenant Coordinator Is A Landlord’s Best Friend

A Tenant Coordinator is quickly becoming a Landlord’s best friend.   A Tenant Coordinator is in charge of handling the process and communication between Landlord, Tenant and Construction Management during the Construction phase of a commercial space.  

Welcome to Tenant Tracker!

It’s time to launch the official Tenant Tracker Blog.  If you’ve made your way to our corner of the world, thanks for showing up.  Our goal is to open a window into the behind-the-scenes happenings of a startup, provide detail on what Tenant Tracker is all about and share some CRE/Tech insights along the way.  We hope you enjoy this and share our story with others.