When is a Terrier not a small dog?

Twenty years ago the word “Terrier” was common parlance in the property industry to describe a property information register. But recent conversational experience suggests that the word is becoming less well known. This we believe is a shame as it is a useful adjective to describe an important tool for the property portfolio manager. We’re pressing therefore for the resurgence of the use of the word!

So, what is a property Terrier? In its most basic form it is simply a register of property information which the property manager considers pertinent to record for whatever reason. If you asked five different property managers what they wanted their Terrier to record you would likely receive five different answers! However we can all imagine the basic information to record in the Terrier such as property address, tenant name, rent passing, break notices, lease term etc.

Prior to the computer revolution the Terrier was typically a ledger style book (to ensure longevity) which was formally laid out and often beautifully presented. The computer version is less romantic but arguably more effective! Elsewhere in this newsletter you’ll see that Sutton Harbour Holdings PLC has implemented our “Triangle” application primarily as a property Terrier. The article describes the objectives that Jason Schofield, SHH’s Property Director, has in implementing the system in his business.

Any property system, as you can imagine, has a certain number of data fields which would be included as a matter of course in a Terrier, the annual rent payable is an example. One of the real strengths of Triangle though is the user’s ability to add data fields at will to the database to record any other piece of perhaps extraordinary data which there is not already a standard data field for. For example a property manager might want to create a library field to record the construction type of a building. Or perhaps a key date field for when the building next needs a fire inspection.

Having gathered the data the real power of the computerised Terrier is the ability to then analyse that data. So, for example, a report that lists all properties in the portfolio requiring a fire inspection in the coming quarter or perhaps a report of all property by construction type. More familiar reports might be all properties by rent review date or lease expiry or a blend of both parameters, you get the idea.

So, does your portfolio need a Terrier? We’ve got a little rascal of a Norwich terrier here waiting for you to call…….woof!