Planet Fitness chooses MRI software to manage its lease portfolio

Planet Fitness Holdings (Pty) Ltd South Africa Deploys MRI’s Lease Management Software and AI-Based Lease Abstraction Tool to Support Business Growth

Cape Town, South Africa, June 23, 2022 /PRNewswire/ — MRI Software, a global leader in real estate solutions, announces that Planet Fitness Holdings (Pty) Ltd South Africa has selected MRI ProLease and MRI Contract Intelligence to manage its lease portfolio and support its growth strategy.

Opened in 1995, Planet Fitness has grown significantly in recent years and today the company has over 48 leases for health clubs and gyms around the world. South Africa. The company’s accounting and real estate teams needed a PropTech solution that could provide an intimate understanding of the entire lease portfolio, down to every renewal date, indexation, break option and many critical clauses per lease. The company made the strategic decision to move away from spreadsheets and manage its rental obligations with a proven occupier solution.

Brad DixonProperty Manager, Planet Fitness “Using AI to automate lease abstraction and create a centralized database has given our accounting and real estate teams quick access to reliable lease information through an intuitive web-based application.”

Dixon added: “A software application is only as good as the data it contains, and we needed assurance that all rental data entering the system was accurate. MRI Contract Intelligence was used to clean our existing data and will be used to integrate any new leases. or addenda. This decision now enables decisions to be made based on superior portfolio data, which is invaluable. »

Planet Fitness will implement MRI’s rental management software with MRI Contract Intelligence, which uses AI to extract rental data directly from digitized rental contracts. Using Contract Intelligence in the lease abstraction process reduces manual errors, creates efficiencies, and provides accuracy assurance, allowing tenants to focus on strategic activities instead of spending hours or days of searching for data in many places to find the reliable source of the lease truth.

MRI ProLease lease management software and Contract Intelligence allow Planet Fitness to strategically and proactively manage its portfolio, reducing manual data entry and ensuring the real estate team never misses an obligation or opportunity with reminders and automated reports for key dates. The company now has software tailored to its needs, developed specifically for its leasing processes, with more than 150 standard reports, dashboards for in-depth portfolio insight and the ability to create new reports quickly and easily .

About the MRI software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s open and connected AI-driven platform enables owners, operators and occupiers of commercial and residential real estate organizations to innovate in rapidly changing markets. MRI has been a pioneer in the PropTech industry for over five decades, serving over two million users worldwide. Through innovative solutions and a rich ecosystem of partners, MRI gives real estate companies the freedom to realize their vision of building thriving communities and stronger businesses. For more information, visit mrisoftware.com.

Media Contacts

(EMEA for MRI)
Platform Communication
Hugh Filman (+44 7905 044850)
[email protected]

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SOURCE MRI Software

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