The Fully Occupied Scoop - December 2023 Newsletter

1. Preparing for Expansion?

Kathrina Reyes is a three-time Occupier buyer! When she joined Squeeze Massage earlier this year, Kat’s first initiative was to onboard Occupier. Founded by the masterminds behind Drybar, Squeeze Massage plans to expand from 85 to 500 locations by 2027, Squeeze Massage implemented real estate lease management platform Occupier to help facilitate their bold growth.

Squeeze uses Occupier to establish a foundation for scaling 490% in location growth. They now seamlessly collaborate with franchisee operators and save an estimated 20 hours per month on lease management. With Occupier in place, Reyes can focus on Squeeze’s core mission of spreading wellness. Occupier is proud to empower the Feelgood Revolution as Squeeze Massage accelerates expansion. Read more here.

2. Lease Process Efficiencies

Watch Communications is a growing internet service provider managing over 2,000 contracts across the country. However, tracking this lease complex portfolio was an ongoing challenge. “We did not have a lease administration software,” explains Bobby Sample , Site Acquisition Manager.

?Watch Communications is a growing internet service provider managing over 2,000 contracts across the country. As it scales its network footprint, the company realizes the need to implement a lease management system that can enhance real estate operations and unlock portfolio transparency.

?Tracking this lease complex portfolio was an ongoing challenge. “We did not have a lease administration software,” explains Bobby Sample, Site Acquisition Manager. Instead, they relied on spreadsheets and shared drives. With no centralized system, critical information lived in scattered emails and miscellaneous techstacks. It was nearly impossible to accurately report on the portfolio or proactively manage renewals.

After adopting, Occupier Bobby proclaimed, “It’s honestly a night and day difference. Occupier is the most user-friendly leasing application out there.” Instead of chasing down expired contracts, Bobby now proactively manages the pipeline. Occupier centralizes everything he needs to keep thousands of leases compliant. Read more.

3. Passing your Lease Accounting Audit

Transitioning from ASC 840 to ASC 842 is no minor project. San Francisco-based retailer Marine Layer knew they needed software that would work for both the accounting and real estate teams.?

Under ASC 840, their lease accounting processes were intricately linked to updating the income statement annually. They reconciled deferred rent and tenant improvement allowances through a single yearly journal entry, managing data for all 46 locations within a cumbersome Excel file. The file, though extensive, lacked the necessary visibility for their accounting and real estate teams.

Kelly Ransom, the Sr. Financial Accountant who led their ASC 842 implementation, chose to partner with Occupier for their transition. “We got through our audit with a clean audit opinion, which is what we really wanted from the accounting side. Occupier made for such a smooth implementation and the whole process was a low lift for me and my team.” With all journal entries conveniently stored in Occupier, Kelly simply exports and uploads the data to their accounting ERP software, making the entire process efficient and hassle-free. Read more.

?? OCP December Employee Spotlight?

Why do you love working at Occupier?

Working at Occupier is like having a daily dose of professional sunshine! The vibrant team, exciting challenges, and innovative atmosphere make every day feel like a step forward in an engaging adventure. Plus, where else can you find a job that combines a passion for Proptech with a culture that feels like family? It's a delightful blend of work and play that keeps me genuinely excited to jump out of bed and head to the office—or rather, my home office!

What is your favorite memory at Occupier thus far?

My favorite memory is from our Austin All Hands. My early morning flight had been delayed to the point I spent 12 hours in the airport to make it to the event! By the time I got there at 9 PM, I had missed the whole day’s events - but the Occupier team there wanted me to meet them out for their final event that day. When I got there, everyone was so excited and happy that I was able to make it! It was so great to see everyone and finish the stressful day with my Occupier family doing karaoke and exploring downtown Austin!

What is your favorite thing to do outside of work?

Anyone who knows me knows the answer to this - Karaoke! If I’m out with my friends or coworkers, I will almost ALWAYS suggest we end the night at a karaoke spot! Give me song recommendations and I just might dedicate a song to ya!

What’s your favorite movie of all time??

OH THIS IS TOUGH! I’m not sure what my favorite is of all time - but I do know that I really enjoy the movie Arrival with Amy Adams and Jeremy Renner. If you haven’t seen it, please do! It has a good message and a great plot twist!?

What travel destination would you recommend??

This past year I traveled to Sedona, Arizona, and was blown away! It has almost everything I would want in a place - stunning red rock formations, spiritual vortexes, an artistic community, outdoor activities, and small-town charm wrapped up in a BIG bow!

What’s the best piece of advice you’ve ever received??

To practice Kindness and Empathy, not only within yourself but with others as well. Small acts of kindness can have a significant impact, and understanding others' perspectives fosters positive relationships.

Thank you.

Thank you for making Occupier the home that centralizes your lease data, aligns your real estate and accounting teams, and powers your entire lease lifecycle. We can't wait to see the new spaces you occupy next.?

Want to know what we have in store for 2024? Join us for the virtual event and hear from Occupier's Co-Founders, Matt Giffune and Andrew Flint. RSVP here.