Press release / Cloud catalyst for commercial confidence
Press release for Bath-based business Property Document Vault
A new system is expected to halve the time it takes to complete commercial property leases and sales.
The online document sharing system launched this month means improved efficiency in the marketing and selling process for property owners and managing agents. For those with multi-let properties in particular, day-to-day management is considerably improved. The days of sluggish paper-based procedures are numbered.
Property Document Vault (PDV) has been developed by a chartered surveyor and is receiving the nod of approval from national landlords and managing agents, thanks to its time and money-saving advantages.
PDV is a cloud-hosted secure storage platform, designed to house legal, reference and architectural material and certification pertaining to a property. Users can store, view, share and collaborate on these documents. Tenants and other third parties can also be allocated access rights to this material.
“The commercial market is in desperate need of a change when it comes to property transactions and management” commented PDV cofounder and Bath-based chartered surveyor Jamie McNeil.
“This provides a catalyst to encourage further capital investment. The system is designed to make the running, marketing and selling of commercial property infinitely easier.”
He added that in contrast to the extranet systems offered by most law firms, PDV is under the complete control of the landlord or their agent, not a third party. The information stored on PDV is property specific; it evolves and stays with the property to the end of its commercial lifecycle.
“Removing the limitations of office hours and postal delivery alone represents a major advantage to landlords. Add the elimination for reliance on the traditional paperwork trail and investors are immediately elevated to a much stronger position, particularly during the transaction process.”
Access to PDV is via the internet and is therefore available globally, 24/365. The use and changes to documents stored in this system can be fully tracked.
“Tenants can be provided with round the clock access to information they may need to run their business: this represents a major selling point for landlords. Ad hoc and regular reporting procedures between the agent and landlord are also simplified.”
PDV grants tenants read only access to operational documents such as H&S reports, certificates, drawings, reports and budgets etc; landlords and managing agents can collaborate on documents virtually. Where a third party such as a potential purchaser, tenant or commercial property solicitor requires access, this can also be granted.
The system has been designed with several purposes and advantages in mind; to aid the management, letting and sale of commercial property; to better enable internal collaboration between landlord and managing agent, while aiding communication with tenants; speeding up the sale of the property, by improving administration procedures and significantly reducing the purchaser’s risk of financial losses to be made.
PDV is hosted on carbon neutral UK servers and complies with UK law.
Property Document Vault is the concept of Bath-based chartered surveyor Jamie McNeil and IT specialist Andrew Twigg. Jamie has more than 15 years experience of commercial property management and Andrew over 12 years’ IT expertise. More about PDV can be found at propertydocumentvault.co.uk.