Tag Archives: Lease Administration Software

Webinar: How to Eliminate Duplication of Financial Data

Part of the ‘Visual Lease in 30 Minutes’ Webinar Series

May 28, 2014 at 2:00pm EDT

CLICK HERE TO REGISTER NOW

As real estate professionals, we continually evaluate how efficiently and effectively Lease Occupancy Costs and other key expenses are monitored.  We’d like to invite you to join us to see how easily this can be achieved.

Visual Lease is a cutting-edge, easy-to-use web-based lease management system that empowers you with real-time, actionable information through an extraordinary user experience.  Please join our webinar to discover how Visual Lease helps eliminate the need for monthly journal entries and gives you tighter control over your real estate expenses.  We will show you how to eliminate duplication of financial data entry, use Straight Line Rent to report on a GAAP basis, and integrate our Accounting Feed to output your real estate expense data directly into your accounting system.

This 30-minute webinar will cover:

  • Financials – Default Account Settings and Features
  • Straight Line Rent
  • Accounting Feed Set-up
  • Accounting Feed Reporting

After registering, you will receive a confirmation email containing information about accessing the webinar. We hope you can join us!

Visual Lease to Participate in CoreNet’s “Bring Your Own Device Workshop”

Visual Lease® has been invited to participate in CoreNet’s NYC Workshop Event “Bring Your Own Device Workshop: Real Estate Goes Mobile” on April 29, 2014. The event will highlight the latest mobile devices, platforms and tools designed to keep corporate real estate professionals more connected and better informed. Marc Betesh will showcase mobile-friendly Visual Lease® and provide valuable insight into how a pre-configured yet highly customizable lease management software solution can streamline your organization’s processes and increase its productivity. View details of the event here.

Visual Lease Announces Industry-Specific Editions

Visual Lease’s announced that their lease management software will be tailored specifically for use in several vertical markets based on their individual needs. The announcement was featured on citybizlist.com. Read the CityBiz press release - CityBizList- NYC April 7.

How Well Does Your Real Estate Lease Management Process Flow?

By Bonnie Briand

Real estate leases can be very complex documents.  Tenants and landlords pay hundreds of thousands of dollars to brokers and others to negotiate favorable lease terms, but neglect to follow through with an effective way to manage the transactions once the deals are consummated.

In order to maintain control over these transactions and reduce the incidence of error or lost opportunities, many companies implement a lease management software system and expect that it will magically resolve all of their issues. However, the lease management software will only be effective if the company first designs and documents its Real Estate Lease Information Flow (RELIF) and then develops and implements a solution designed to monitor that flow.

To effectively track the flow of information the following steps can be taken.  This is part of a four part series exploring How Well Does Your Real Estate Lease Management Process Flow:

Step 1 – Define existing processes, identify hot spots and information required for and from each document that touches the lease deal.
Visualize the path that documents take, and then identify any redundancies, bottle-necks or other problem areas that can slow the process.  Be sure to think about all documents, including leases, amendments, estoppels, SNDAs, landlord invoices, change of address letters, etc.

For example, visualize what would happen if an estoppel letter were to come in.  Who should receive it, and what should happen prior to execution?  If your company requires (as it should) legal department approval, understand what documents and information it would need.  Consider who should be consulted in order to find out whether any claims exist against the landlord, the status of the rent account, etc.

Step 2 – Develop a documented process/system to keep hot spots and reporting requirements in focus.
By communicating with each department to determine their reporting needs, rework the process eliminating redundancies, bottlenecks and problem areas.  Most importantly, document the process with a flow-chart or an outline so each department/person can see how they fit into the overall picture.

Step 3 -Assign qualified personnel ownership of information.
Once you have the documents flowing correctly, delegate the responsibility of capturing missing information to those who understand the process.  They then take ownership of the data’s integrity, and retrieving missing information becomes their responsibility.

Step 4 – Monitor compliance using tools tailored around your processes.
Develop management reports that quickly identify errors in data or changes in your portfolio. For example, in order to ensure that changes in rent are supported by the lease documents, you should produce a report that identifies changes in rent from one month to the next.  Similarly, in order to measure performance of disposition activities, create a report that compares changes in net absorption of vacant, surplus and subleased space within the portfolio.

Technology is a great tool for automation, but it is only as effective as your Real Estate Lease Information Flow is developed, documented and monitored over time.

Manage Your Leases on the iPad, iPhone and Android!

Visual Lease is now fully functional your iPad®, iPhone® and Android® device!

Now you can access your lease information wherever you go!

  • Instant access to all Lease Data
  • View Critical Dates
  • Call and Email Contacts
  • Run Abstract Reports
  • Create ad-hoc reports on the fly
  • Download Lease Documents
  • Video: Showing Off Visual Lease on the iPad with Duke Long

    DukeLong.com

    During the CoreNet Summit, Chris Werely spoke with Duke Long about how Visual Lease makes it easy to manage leases on the iPad.  Duke is a popular commercial real estate blogger.  Please check out the video and visit www.dukelong.com.



    Podcast: Upcoming Lease Accounting Changes

    Marc Betesh and Christopher Werely will be interviewed by crePodcast’s Duke Long and Jason Sandquist on February 23rd.  CrePodcast (Commercial Real Estate Podcast) covers news from every aspect of the real estate industry and features real conversation from industry leaders around the world.  Past interviews include Stephen Spooner, Executive Chairman of OSCRE, Mike Manning, VP of Marketing at LoopNet, and Garret Krueger from ROFO.  An archive of past podcasts is located here.

    The February 23rd podcast will focus on the upcoming lease accounting changes and what can be done now to prepare.  This interview continues a string of interest in KBA’s expertise on this topic from trade associations, service providers, and major corporations.

    Duke Long is the owner of The Duke Long Agency in Indianapolis, IN and is the author of the popular one of the most popular real estate blogs.  Jason Sanquist is a Real Estate Client Advisor at Adam Commercial Real Estate in Minneapolis, MN.

    Free Webinar: FAS 13 Lease Accounting Changes

    On February 2nd at 12pm EST, Visual Lease and KBA Lease Services will host a free webinar outlining the impact on corporate real estate due to the proposed FAS 13 lease accounting changes.  Presenters include Marc Betesh, CEO of Visual Lease, Gary Illiano of Grant Thornton and Lou Ferro of KBA Lease Services.

    “I attended Visual Lease’s FASB round table discussion in New York City and found it highly informative, says Meyer Last, Esq., Partner at Fried Frank.  “The emphasis on practical application will be greatly useful to anyone who must contend with the new rules, whether directly or as a consultant.”

    Topics include:

    • Updates from FASB’s Latest Roundtable Meetings
    • What You Need to Know about the Proposed Changes
    • Modified Gross Leases – A Thing of The Past?
    • How Long is a Lease Term (Once You Count Options)?
    • How Existing Leases Will Be Treated
    • What You Can Do Now To Save Both Time and Money

    Visual Lease Announces Release of Web 10.1

    Visual Lease is excited to announce the release of Visual Lease 10.1, which includes an enhanced lease management dashboard. The new dashboard provides high level visibility of key data for real estate decision makers, managers and lease administrators. The major components of the dashboard are:

    • Critical Date Reminders – Provides an x-ray view into the entire real estate portfolio to identify upcoming expirations, options, rent bumps and more for each lease.
    • Cost per Measurement Unit – Instant cost information with filters.
    • Expirations – Annual total of expiring area.
    • Rentable Area Breakdown – Total area filtered by organization, region, property type, etc.

    Visual Lease Dashboard

    In addition, configuration and display options have been built in to accommodate company and user preferences.

    The lease management dashboard, along with other features in this release, is immediately available to current and prospective clients. The next release of Visual Lease Web is scheduled for November 2010.

    32 commercial real estate sites you should be familiar with

    In a recent post on the Agent Genius Blog, commercial real estate broker Duke Long posted his compilation of the 32 best commercial real estate websites. Visual Lease is flattered to be the only lease administration software on the list and to be characterized as “simply stunning”.  When designing our website we applied the same principals we use with our leasing software – easy to use, clean and intuitive.  Check out the rest of his list below:

    ROFO- putting business and available space together. This site was honored with a Webby Award. This IS the future of commercial real estate online.

    Arcestra- is a revolutionary 3D visualization and marketing online service that helps lease commercial real estate quickly. Did I say THIS is the future of commercial real estate?

    Creopoint.com- they say 1) rapid access to businesses and experts 2) improved digital branding 3) wants/haves and corresponding invitations to network 4) member viewpoints and forums 5) CRE news aggregated from around the globe 6) industry-focused search to avoid clutter.  I say #1 worldwide commercial real estate network?

    Mos Atlanta- the best personal commercial real estate agent blog out today. Period.

    Argussoftware- the best software in commercial real estate for property management, asset valuation, portfolio management, budgeting, forecasting, reporting and lease management.

    Loopnet- iPhone search app. One of the first.

    Zstrata- commercial real estate CRM.

    Space for lease- well… space for lease.

    OSCRE- commercial real estate data standards. But, is it working?

    Intelligent buildings- look in the library section. Great white paper intelligence.

    Realcretv- commercial real estate TV. Yes ,yes, yes but, will anyone watch?

    Green building law blog- just cool content.

    Transaction data and analytics- if you are big time, this is a must have.

    Real estate investing news watch- real estate investment blog and news aggregator. Great info.

    Realcomm- commercial real estate corp., commercial real estate tech and automation.  A must attend event.

    Core Net Global- big time corp. global association.

    Green exam prep- LEED training classes. Green is gold. I can’t believe I still use that line.

    CPExecutive- commercial real estate executive news. Here are the hitters and this is what they read.

    Crew Crew Crew- commercial real estate women… love the ladies.

    Real Estate Forum Magazine- hardcore corporate, but a must read.

    Realcorner- I still think I’m banned or blocked or something.

    Visual Lease- leasing software. Just stunning.

    Google Sketch Up-  3D buildings. Still fun and cool to play with, but also practical.

    Chain Links- retail leasing group.

    Property Week- from the UK. Commercial real estate, best site over all.

    Multi-family Insiders- the name says it all.

    Investor Loft- investor database.

    REIS- commercial real estate property stats and data.

    Biggerpockets.com- 50,000 members and growing.

    CCIM- the best Commercial Real Estate education, period.

    Urban Land Institute- best overall commercial real estate organization.

    Retail Traffic- design, development, retail, finance. Kick ass blog too.