Key Features of Lease Management Software

Aug. 6, 2009 - PRLog -- If you are in the market for Lease Management Software you will find a variety of options with many different specialties and features.  To help sort through the contenders and pretenders, the following feature list can be used as a guideline and point of comparison.

Flexibility

Every real estate lease is different.  Every company is different.  Every department is different.  Key information like building and property types, organization and regions, utilization types, and many other fields must be user definable in order to match your portfolio. These fields should be easily changed by the administrator at any time, without programming or customizations.  Expenses items should be equally flexible, allowing for unlimited expense types and levels, currencies, allocations and general ledgers.  New categories of abstract (lease clause) information should be editable at any time.  

Ease of Use

The lease management software should follow a logical lease administration workflow utilizing an extremely simple and straightforward user interface.  Each lease should be easily searchable and accessible in order to retrieve information like critical dates, rentable areas, allocation, parties and contacts, documents, financials, and abstracts.  A well designed system should also allow users to intuitively move between key data to get the answers and information needed.  

Simple Ad-Hoc Reporting

A system is only as good as the information you can get out of it.  A lease management system must have efficient, easy-to-use and effective ad hoc reporting.  The ability to easily create and save a report using a simple point-and-click interface is a definite requirement.  Real estate lease administrators should not be expected to learn complicated report writers or query languages.  The more difficult the report is to create, the less likely it is to get done.  Every field in the system must be report-able, allowing each field to be easily sorted, filtered and sub-totaled.  All reports must be exportable to Microsoft Excel.

Power

To provide confidence that a lease management software package will work for your company, the system has to be easy to use for small portfolios, yet powerful enough to manage portfolios with thousands of locations.  If your portfolio shrinks or grows the functionality and usability must remain the same, and the licensing model should remain consistent too.  Critical date tracking, document management, lease financials, standard reporting and ad-hoc reporting work best when integrated on one platform, not multiple modules.  The system should be internet based, or internet ready, providing the power to manage leases anywhere and anytime.  Lastly, In order to administer a large number of leases, records and contacts the system should be built on an enterprise class database like Microsoft SQL or Oracle.


Visual Lease is a powerful Lease Management Software solution that enables real estate departments to easily control and report on leases and other critical real estate information. For more information contact Christopher Werely, Vice President at 888.876.6500 or visit them on the web at http://www.visuallease.com

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Visual Lease is a powerful Lease Management Software solution that enables real estate departments to easily control and report on leases and other critical real estate information. For more information contact Christopher Werely, Vice President at 888.876.6500 or visit them on the web at http://www.visuallease.com