What's new in ARGUS Enterprise 13

The latest version of ARGUS Enterprise (13.0) is a significant update with multiple new benefits including enhanced multifamily support, German valuation updates, additional reporting functionality, stronger security, and a new login layout to make your data more accessible.

During this webinar our subject matter expert will run through the key features and benefits of ARGUS Enterprise 13.0 and how you can make the most of the latest version.

In this session we will cover:

  • Capability to model complex European multifamily and mixed-use assets
  • Functionality to value German multifamily assets using traditional methods
  • Additional commercial and residential portfolio reporting
  • Easier access to your data through the new Cloud login dashboard
  • Enhanced corporate security via federated single-sign-on (FSSO).

Watch the video of the recording or read the script of the webinar below.

Full script of the webinar:

Good morning, and welcome to this webinar entitled ‘What's new in ARGUS Enterprise 13’. Thank you for joining. My name is Nesi Ede and I'm one of the subject matter experts, here at Altus.

As many of you will know, we have recently released the latest version of ARGUS Enterprise and it is version 13.

During this webinar, we are going to cover some of those developments. And those include:

The capability to model complex European multifamily and mixed-use assets The functionality to value German multifamily assets Additional commercial and residential portfolio reporting And we're going to also look at how easy it is now to access data through the Cloud. And finally, I'm going to talk about enhanced corporate security by federated single sign-on, also known as FSSO.

So, without further ado, let's get into the demonstration.

As most of you will be aware, here’s the ARGUS home user interface. And today I'm going to be using this imaginary portfolio I've created to just explain some of the new enhancements. As mentioned on the introduction, we now have enhanced cash-flow modelling for the residential properties. We have a new rent role also for the residential property type, which actually includes some of the previous components, which you could only see in the commercial property types such as CPI and miscellaneous rents; These weren't available if you selected the property type as residential. We can now also model each unit individually. So for anybody that wants to go into a lot more granular detail with modelling residential units, as opposed to grouping. For example, if you had one beds and two beds, in previous versions, you'd probably say 51 beds, 52 beds but you wouldn’t have been able to detail the individual units, refurbs, costs, etcetera, in as much detail when using the residential property type.

The German income approach method is also now available with the residential property type. We have increased visibility and reporting. It's now also possible to drill down and see how much revenues and expenses are attributed to different these types. For example, if I had a mixed- use property and I wanted to see how much the revenue and expenses attributed to retail and how much of that was attributed to office, it's now a lot easier to do.

So, what I have available in this portfolio are three different examples of properties which I'm going to use to explain and show some of these features. The first example I'm going to use is this unit group of property, which a lot of the people that were using the residential functionality in Europe would have been doing it like this if you were using the residential property type. Just so I'm clear on what I'm talking about, the property type under the property description type, these are the different available property types in ARGUS Enterprise. And the previous versions gave you a specific or limited amount of functionality with the residential property type.

So, in our example you are doing it this way, which you can still do if you don't want to be too granular. As you can see here, I've just got my 1 bed, 2 beds and then the amount of units. So, this could be any type of residential house, whether it be two beds houses, three beds houses, four beds houses, etcetera; this is sort of the simplest approach. What you can see here is we've got the active type, and this is just very useful. Imagine if I want you to know or only value the one bed, for example, then I could just simply make the two beds inactive. As you go through the rent roll, you can see the extra fields. For those of you that have used this before, you’ve realised that we now have a section for indexation. So whether it's CPI, RPI, whatever type of indexation that you need, you can also link these back to the profile so we can handle all sorts of complex information, whether it be a five year compounding RPI like we use in the UK or the German points indices. That is now available with the residential property type.

Miscellaneous item sections are very key for incentives, rent free cash backs, etcetera. Whatever incentive type you want to include is now available in the solutions. Just remember, if you want to define an incentive, you need to go to the details tab, open up the bottom half. And as you can see, you can define exactly how incentive is paid or whether it's an amount per unit, an amount per square foot or per square meter or a percentage of the rent. So, this functionality is now clearly available in the residential property type. It wasn't there before. This is going to take your modelling to that next detailed level.

For those who need to go to a bit more detail and you want to specify. So instead for example, a 500 1 bed, you want to create different profiles or actually specify the different assumptions for all of those individual units. Here's an example of a property that I’ve modelled in that way. So, you can see here. Hundreds of lines and each of these units are defined individually. So, we can specify the individual different start dates for each of those units, the lease execution, which is the signing date and the exception. If I scroll to the market leasing section, the market leasing section is what the system will revert to upon the expiry of a lease. So, when unit 1, for example, expires, what's going to happen? I might tell the software it’s going to go into ‘Pre Refurb’ and I can actually define in the profile how long that's going to be so that pre refurb stage could be three months, for example, then the actual refurb would be six months and then post refurb could be, again, another six months or whatever you project. You can tell the software to revert to each of these stages in a chronological order. Let's work with the assumption that I'm saying unit 1 is going to go to pre refurb. What will then happen? If I access the market leasing profile, you can see here the profiles and we can tell the software. So, this section all the way to the right upon exploration. So, after pre refurb you can say what the profile is going to refer to. If it is pre refurb, it will go to refurb. Then once it hits this refurb profile, it will then go into post refurb and you can define exactly what the costs are in each of those first stages, if there are any costs to the stages. And, of course, the length and the time for each of those stages. And you can see that each one year in this example, we can say that might be three months, that might be another six months, three months. It's down to you. You have total control there. OK, so that's where modelling the property as an individual unit is useful. If you're going to have lots of refurbs on a large residential or multifamily asset and you've got lots of refurb costs and the refurb costs aren't going to be generic. You want to be specific and go to granular detail, then it's useful to create it using the individual units.

For those who have a commercial element, we also now have a mixed-use residential type that creates another tab in the property for the tenancy schedule. In the previous versions, we had to combine all the residential data under the commercial tab. That wouldn't have given us all the residential functionality. The option is on the property type now. Select mixed-use with retail outlets, residential, what you now see is when I go back to the tenants tab. I still have this residential type; now you can see the tenancy schedule tab has appeared. So, this is where I could come in and find all my commercial elements with all the relevant commercial fields. So, for example, we can see now I've got the field such a turnover rate that this isn't going to be relevant under the residential. This also gives us the power to actually clearly distinguish and see and separate our commercial element against the residential element and then obviously be able to analyse them wholly in the cash-flow, but also separate them out, which I'm going to show you a bit later.

Next, I want to go into some of the reporting that we included and starting with our tenant accounts. Now, those of you who have been using ARGUS Enterprise for a long time may have been using our chart of accounts. Previously, we could not give account codes to individual tenants or tenant groups. We were only able to apply these account goes to expenses or general revenues. The new functionality allows to breakdown and view line items such as gross revenue or void loss by tenant account code. And this is linked to the lease types in the system. So, if I click on the tenant account categories, down here, some of you will be familiar. You will have seen some of these lease types in the tenancy schedule. Now, the ones that are greyed out; These are the default ones. They can't be overwritten or deleted. However, you can see these ones in white are custom lease types that we've created. So, ARGUS does give you that flexibility to often create your own category, lease type being one of them. So if you ever wish to add a category, let me just show you where that is on the backstage stage under this file tab. Go to global categories, managed classifications, and you can see these are all the classification types. If I just show you lease type, here's where I can add a new lease type value, and this will usually be only done by super users or administrators, those with the correct permissions. So, what I want to show you is with this new functionality, how we're able to analyse tenants further using these tenant account codes categories. If I go to this property here and here, you see this is a commercial example where I've got different account codes. I've got office, industrial and just custom. So that could be anything you can say residential in this example. And if I to scroll to the right, you can see, the lease type, but you can also see the tenant account codes. So those are the tenant account codes which are created back under that chart of accounts. You can see the codes right there. So, you can see I am on my split screen here and the cash flow at the moment is actually broken down by development codes. So, typically, when you first open the cash flow in ARGUS Enterprise, it will look something like this. Now, it's just sort of aggregating everything, so all the revenue. This is giving me the totals of all of the advancements in the recoveries and so on. It's not actually split and broken down by tenants, but by clicking show tenant rows, I can see the account numbers. Those account numbers that we just saw on the chart of accounts and then obviously how it split out, so that's the total 41 grand and then I can see the total amount attributed to office, industrial and custom tenant. So, think about the power of that tenant code. We can separate that on any basis that we choose in terms of tenancy.

Right, if I go back to the start of accounts and you may have noticed the another tab here for residential tenant account code categories, which works pretty much in a similar way to the tenant account code categories, the residential tenant account code categories are specifically for the residential property lease type. So, if you remember when I just showed you in the property where we select that property type. So again, if the residential type is active in the property, we need to make sure that and you want to do the separation by using the account codes. That's the difference between the tenant account code and the residential account code categories. These are specifically for residential property types. If I go back to this unit group's property and we have a look at the cash flow. Remember this, it’s for one and two beds, and again here I'm just looking at the residential cash-flow and I'm seeing in terms of the key statistics, my totals. Every single report in ARGUS Enterprise has the functionality of the report options. This allows us to change a number of settings and actually amend the way in which we do reports. What I'm going to change here now is the level of detail that we can see here for residential detail lines. And what this is going to do is separate these totals by my two residential account codes, which we just saw one bed and two beds. Press OK and now I was already showing you the details on the one and two beds and I've just changed it back to the totals, so if I change that residential level of detail. So, now, it has sorted my account codes. We can now view the cash flow, just whether it's for commercial, whether it's residential in total or by my account code. The account code numbers are linked back in that chart of the accounts.

I also want to mention that the German income approach functionality is now available with residential. So, we just need to make sure that on the modelling policies, the German income approach is ticked on. You can see if I take it off. My German income approached tab just disappears. Turn it back on and it brings it back into this. In our previous versions, we could not value using the German income approach on ARGUS Enterprise. There you see, once I tick on the modelling policies, I've now got all the German income approach functionality and the German income approach valuation reports. OK, please remember, for those of you that are going to be using German valuation on a regular basis, please ensure that it is ticked on in your templates. You don't want to tick this on every single time.

So that's all the functionality we have to show it to you so far in terms of the software.

Now we're going to have a look at ARGUS Cloud and the ARGUS login page. For those who have used ARGUS Cloud before, you’ll know you always have to type in your email address. You can now see that there's the option to remember you. The system can remember your credentials. By clicking next, you’ll log in. Once I've logged in, the difference now with the Cloud is that I'll immediately be able to access my data that is saved within the cloud. Previously, it would take us straight to this application tab. The data tab now gives users the ability to see outputs based on the data straightaway without having to launch the application. Immediately the user can see all the portfolios, the scenarios, and the properties that they have access to. By clicking on the portfolio, we can access the dashboards. So, I'll be able to just have a quick overview and actually see portfolio performance very quickly, and you can see there is a number of metrics and we can obviously change some of these  drop downs to spit out different KPIs. More importantly, we can see all of our assets.

Let's say I'm analysing this property here, 5 Montagu Crescent and I want to access this asset, I don't have to open the application anymore, I can simply click on the three dots and open up ARGUS Enterprise. This says to me, especially for those of us in larger organisations where we may have thousands of portfolios, you might be only working on this asset rather than scrolling through and filtering and searching through ARGUS Enterprise, we can actually access my property directly from the ARGUS Dashboard. For anybody that has workflow permissions, we can also access the workflow dashboard and keep up to date with completed and outstanding tasks. We can turn into an asset, check any required approvals. And again, here, we can also assess the asset directly from the workspace.

By clicking on Q4 2020 AM Update, we can see these are all the assets that have been assigned to me to approve. What do I need to approve? Well, with our workflow tool, we can set and create tasks and tick off those tasks as you go along. Here, you can see I've got a number of tasks. And here, at the moment, in this quarter, I need to approve the rent roll. So, I can see the first two tasks have been completed. The third is not. If I want to check that it's completed, once again, I can access the asset directly and then once it's checked off, I can take it and then approve it. Another new component to the cloud area is the support and help option at the bottom. This gives us access to the support community, which contains various articles, videos, and useful information to help you utilise the solutions. We also have the help guide. And this contains useful information such as guidelines and tips for your personal cloud account. Anybody using APIs also has access to the API documentation.

For the main takeaway there from cloud, everybody is that now upon look again, we can instantly see all of the data that you have permission to. So, whilst on my company database, I might have lots more portfolios than this, I can see all of the portfolios that I have the permission to access and I can access those properties directly from the cloud without having to open ARGUS Enterprise.

The final thing that I'm going to talk about is FSSO. FSSO is technology that allows you to authenticate with a single sign-on wherever you are. It integrates with your own company single sign-on and the key benefits of that will simplify and strengthen your applications. It's going to ensure security, best practices and create a seamless user experience. So, users will still have to access through the main access. Here’s a screenshot. So, similar to the one you saw me logging on initially. Once your credentials have been entered, only then will the user have full access. This gives an added sense of security to data, and it's also easy for administrators to remove users who have left the organisations. So, typically you arrive on this page, the same page that we saw. And instead of going straight into the cloud, I was able to do it will transfer you to another internal site where you have to enter your credentials. So once the password is entered, only then will the user have full access. So, what this gives is, as we've mentioned, a lot more security and protection. So, for any existing users of ARGUS Cloud, if you do wish to have this turn on in the environment, please contact your account manager. Any new or future users can get this set up basically upon signing up to ARGUS Cloud.

And so that is pretty much everything that we have today.

Thank you, everybody, for listening. For more information or to arrange a demo, please feel free to contact us at argus@altusgroup.com.

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