Tag Archives: Marc Betesh

CREpodcast: Visual Lease & Proposed FASB Lease Accounting Changes

We recently had the opportunity to chat with Duke Long and Jason Sandquist from CREpodcast about the proposed FASB/IASB lease accounting changes and how all parties can prepare.

Marc and Chris drop some serious information on what could be a coming storm if businesses, tenants and commercial brokers are not prepared. We discussed the impact on the industry as a whole – as well as what the affects will be for both tenants and landlords in regards to how they handle lease accounting. They also fill listeners in on how to start planning for these changes and implementation strategies if the proposed changes do take affect.

Visit KBA Lease for more information on lease auditing and don’t forget to check out their blog as they keep it up-to-date with all the latest news as well as Visual Lease, which is the offers some of best leasing management software around.

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Lease Accounting Webinar Replay Now Available

Visual Lease’s management team, along with Grant Thornton recently hosted a webinar to address the impact on corporate real estate under the FASB/IASB’s proposed lease accounting changes.

The presenters include some of the country’s top real estate lease experts, Marc Betesh and Lou Ferro, as well as Gary Illiano, National Partner at the CPA firm Grant Thornton.

If you were not one of the hundreds who attended, and would like to watch the replay and download the slides, it is now available. Please click here or on the image below.

Click to watch the replay

Marc Betesh to Speak at SIOR about FASB’s Upcoming Lease Accounting Changes

Marc Betesh, President and founder of Visual Lease and KBA Lease Services, is scheduled to speak about the FASB’s upcoming lease accounting changes at the New Jersey chapter of SIOR on February 2nd, 2011.  Mr. Betesh’s presentation “How Proposed Lease Accounting Changes May Affect the Brokerage Business,” will help commercial real estate brokers address tremendous concern across the real estate industry.  The event, hosted at the Wine Library in Springfield, NJ, will be geared towards educating and informing SIOR members of the impending changes.  

Mr.Betesh and Lou Ferro of Visual Lease and KBA Lease Services, in conjunction with Gary Illiano of Grant Thornton, will also be hosting a free webinar on Feb 2nd at 12pm EST outlining the impact on corporate real estate due to the upcoming changes. 

 To register please email sales@visuallease.com or visit www.kbalease.com/fasbwebinar.

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 to Attend FASB’s Public Round Table on FAS 13 Lease Accounting

Visual Lease’s President, Marc Betesh and COO, Chris Werely will be attending a joint FASB/IASB public round table today in Norwalk, CT to discuss the changes to FAS 13 lease accounting.  Marc Betesh has been invited to participate is the discussion, joining other real estate and accounting executives from Ernst & Young, KMPG, Toys R Us, AIG, SEC, Xerox and others.  The participants will have the ability to voice their opinions and concerns directly to the boards.

We will be blogging live and listening carefully to determine the boards stance on some of the controversial issues impacting commercial real estate, like determining the longest possible term.

Follow us live on Twitter at @VisualLease and @LeaseAudit

Click here to learn how Visual Lease’s software and consulting services can help you prepare today for changes to FAS 13.


CoreNet Day 1 Recap – Real Estate Technology Perspective

by: Chris Werely

The first day of CoreNet flew by in Phoenix.  It has been a great day of networking and learning.  Richard Florida opened the summit by providing his academic perspective on the future of our creative economy and necessity to create spaces and places to promote innovation.  While Florida provided an interesting perspective he failed to motivate the large crowd of real estate executives.

I attended the Technology breakout session, Who is Managing Your Corporate Real Estate Software?  Risk & Opportunity.  It was interesting to learn about the decision making processes from major organizations like AT&T  and Nokia Siemens Networks.  I found it particularly surprising how disparate their real estate software systems are and the challenges they face managing them.  Because of their size and complexity, a large amount of support is needed by IT, often not with the same amount of priority as real estate.  The most surprising example of this internal struggle was how long it took AT&T to aggregate data for an executive dashboard – over 1 year and half a million dollars!  This is hard to imagine in 2010.  AT&T is still running 10+ real estate software systems, both customer and vendor provided.  Nokia Siemens has recently rolled out an IWMS after a multiple year evaluation and implementation.

The take away for me was the large companies are still looking for great products to fit their unique requirements and not neccessarily at one size fits all system.

In the afternoon Visual Lease’s President and CEO, Marc Betesh spoke to a packed room on the changing BOMA standards.  The dynamic between Marc and Michael Meyer was excellent and they were able to make a fairly dry topic come to life.  They both drove home the fact that tenants, as the customer, should demand that the landlord measure space to thier specifications so that they can do an apples to apples comparison for different spaces.  The BOMA 2010 revisions are long and complex, but they do provide a more standardized and fair way for allocating building and floor common area costs, which should be to the tenants benefit.

The social media scene has been very active.  For the latest updates via twitter check out:


Stay tuned for updates from Tuesday’s FASB working breakfast, the mega sessions and the IWMS developments moderated by CRESA’s Scott Bumpas.

Live from the CoreNet Global Summit

Marc Betesh and Chris Werely are in Phoenix and will be blogging and tweeting live from the CoreNet Global Summit.  We are here to see what is new in real estate technology, lease administration software, and what people are thinking about the upcoming FASB accounting changes.

It will be interesting to see how social media has progressed at the summit.  Jones Langt LaSalle has a dedicated Social Networking Point in the main convention hall.  You can follow us at @VisualLease or subscribe to our lease management blog.  On twitter you can follow #CoreNet for updates from all attendees.  Jones Lang LaSalle’s feed is @jllnews.

Marc E. Betesh to Speak at CoreNet Summit in Phoenix

After receiving excellent reviews from the last CoreNet Global Summit, Marc E. Betesh, President of Visual Lease and Michael E. Meyer, Managing Partner of DLA Piper will be speaking at the upcoming CoreNet Global Summit in Phoenix, Arizona about the upcoming changes to BOMA’s Standard Method of Measurement of Office Buildings.

Rents are almost always quoted on a cost per rentable square foot.  As a result, the way square footage is measured can have a profound impact on leasing costs.

In 2010 BOMA once again adjusted its recommended method of measuring rentable and usable square footage.  What does this mean for tenants leasing new space? How will this impact rental rates and terms of existing leases? This session will explore the meaning and effects of BOMA’s new rules, interpreting the material in a way that is clear, simple and easy for tenants to remember and apply.

Marc and Michael will be speaking and fielding your questions on Monday, September 20th during the Workplace Snap Session from 2:30 pm to 3:00 pm.

CoreNet Global Summit - Phoenix

Marc E. Betesh to Speak at CoreNet Global Summit

Mark your calendar to get valuable pointers from two of the country’s top real estate leasing experts. Marc E. Betesh, President of Visual Lease and Michael E. Meyer, Managing Partner of DLA Piper will teach you how to keep that great deal on track during the CoreNet Global Summit in New Orleans.

When uncontrolled, certain elements of real estate lease deals can turn good deals into bad. Learn from industry experts how to negotiate operating expense language that is in line with underlying business goals, and how to ensure that leases stay on track post-execution. Click here to read Michael Meyer’s Checklist for Negotiating a Fair Lease Audit Provision.

Marc and Michael will be speaking and fielding your questions on Monday, April 19th during the Optimizing Resources Snap Session from 11:00 am to 12:30 pm.

Visual Lease Web 10.0 Release

Visual Lease is proud to announce their latest software release, Visual Lease Web 10.0.   President and CEO Marc Betesh is excited – “This is by far the easiest to use lease management software on the market.  For years, Visual Lease has been recognized for its ease of use but in our latest version we put even more focus into a user-centered design.  For example, our unlimited standard reports are now even easier with the ability to create a new one in seconds!”

According to Betesh the key goals of Visual Lease Web were twofold – “First was to satisfy lease administrators working in the trenches by giving them immediate access to the deepest levels of lease information and financials with very little effort.  Second, managers need a thirty thousand foot view of the overall portfolio, enabling them to strategically direct the shape of the portfolio’s performance.  Most importantly, Visual Lease gives both managers and administrators exactly what they need in real time.”

Commenting on Visual Lease Web 10.0, Chris Werely Vice President of Sales says – “We have harnessed the power and flexibility of the existing Visual Lease system while making it easier to use.  For clients looking for a custom solution right out of the box there is no better choice.   This system is simple in design, sophisticated in ability and low in price.”

Visual Lease has also added features and functionality to the Web version.  A new workflow and executive overview tool, the Lease Management Dashboard, provides a portfolio wide snapshot of upcoming critical dates, expirations, square footage breakdowns.  Chris Werely says that “The new dashboard enhances real estate executives, managers and lease administrator’s ability to think strategically about their lease portfolio.”  In addition to the Lease Management Dashboard, numerous enhancements make the web version easier to enter and update leases, find critical information, and generate reports.

As a Software as a Service (SaaS) product, it is easy for clients to get started.  There is little to no IT support required and updates occur automatically, providing the most up to date version at all times.

Visual Lease is a highly recognized lease management software system known for its easy reporting, classic format and extremely simple, but powerful design.  Visual Lease is the only Lease Software by Lease Professionals.  It is an affordably priced solution, making it a valuable asset, especially in the current economy.

To learn more about how Visual Lease can enhance your lease administration process, please contact Chris Werely, Vice President of Sales at 732-750-4500 x426 or cwerely@visuallease.com