Tracking a lease’s critical dates is one of the most time-consuming parts of managing a commercial real estate portfolio. Lease management software is therefore essential to any company with a multi-lease portfolio. An effective system will centralize critical dates, lease information, and contacts information of those to be notified.

The end of the year is approaching and it is time to create budgets, forecasts and planning reports for your commercial real estate lease portfolio. This can be very time consuming, however if your information is organized in an easy to use lease management system it can be greatly simplified.

In order to maintain control over real estate transactions and reduce the incidence of error or lost opportunities, many companies implement lease management software and design their Real Estate Lease Management Information Flow

If you are building a case for the purchase of lease management software like Visual Lease, start by answering these simple questions.

Part 4 of a 4 part series exploring How Your Real Estate Lease Management Process Flows. Step 4 – monitor compliance using tools tailored around your processes .

To effectively track the flow of real estate information assign qualified personnel with ownership of information.

Develop a documented process/system to keep hot spots and reporting requirements in focus.

In order to maintain control over real estate transactions and reduce the incidence of error or lost opportunities, many companies implement lease management software and design their Real Estate Lease Information Flow (RELIF).

Galaxy Partners recently conducted a survey on important issues facing corporate real estate. From the results it is clear that the challenges of the current economy will continue to have an effect on how corporate real estate into 2010.