Lease Administration

To effectively administer leases, it is important to meet critical due dates for renewals and options, validate lease responsibilities for accurate invoicing, track changes as leases are amended, and easily maintain lease detail, such as contacts and documents. The Lease Administration application enables you to maintain detailed lease information using a wizard interface or forms that present lease data in panels. You can also add lease data using templates that you define. The application includes a comprehensive dashboard that includes alerts for upcoming lease and option due dates, a tabbed interface to access lease details, a geospatially-enabled map view, and reports.
For example, you can view alerts for upcoming lease due dates and can click the alert to see option details in a pop-up window. Clicking the Filter button for the alert locates the lease in the selection list. You can select the lease, and then select any tab to access information for suites, contacts, documents, base rents (or any recurring cost entered for the lease), options, clauses, and amendments.The Lease Dashboard enables you to efficiently review, manage, and generate reports for your lease data.
Lease reports enable easy access to information by enabling you to filter and drill-down to analyze the aggregated data. For example, you can generate the Lease Reports by Month for a group of leases by geographic location, time span, or cost category. The report summarizes net income, income, commitment costs, or base rent expenses for the selected leases by month. You are then able to drill down to see the cost details for a lease for specific month or year, or for all leases for a selected month.
Optionally, you can associate leases with suites, and can depict suites graphically in your floor plan drawings. Depicting suites graphically enables you to develop accurate areas that reflect the true dimensions of your leased area.
The Suite Analysis process enables you to efficiently and economically manage your leased spaces. For example, you can generate reports that highlight vacant or soon-to-be-vacant suites. You can identify "unaccounted" space - portions of the floor that are rent-able but that are not currently being charged to any lease. A suite's measured area can be used to charge back accurately prorated building and property costs to your leases.

Business Result

• Reduced errors through:
  • Effective and easy tracking of lease and option due dates.
  • A dynamic wizard that walks you through the process of defining and editing portfolio items (buildings, structures, and land).
• Improved access to real estate data and related cost analysis.
• Reduced administrative overhead through easy and intuitive data entry.
• Reduced costs through the ability to track lease responsibilities and to track vacant and unaccounted suite area.
• Reduced administrative effort by accessing a centralized repository for all lease-related documents.
• Ability to visualize your leased areas and provide a visual aid to brokers showing the suite, and architects developing fit-out plans.

Reasons for Automating

• To receive alert notifications for lease and option due dates, customized by user role.
• To create and maintain an electronic repository of lease data using a simplified wizard or a tabbed interface.
• To easily access documentation to validate lease responsibilities.
• To easily examine lease change history by tracking lease amendments.
• To graphically depict suites in reports highlighting vacant and soon-to-be-vacant suites.
  
• To have accurate measured areas to charge back building and property costs to leases

Results / Reports / Charts

• Lease Alerts
• Leases or Options by Expiration Date
• Rent Roll
• Lease Net Income / Income / Commitment Costs / Base Rent Expenses by Month or Year
• Number of Leases Expiring by Year - Chart
• Property / Building / Lease Abstract Reports
• Structure / Land / Building / Lease Details Reports
• Amenities by Property / Building / Lease
• Leases by Landlord Name / Tenant Name / Account
• Tenant Leases / Landlord Leases by Building
• Leasehold Improvements
• Tenant and Landlord Responsibilities
• Unaccounted Suite Area
• Highlight/View Vacant Suites
• Highlight/View Suites for Expiring Leases
• Highlight Suites by Lease
  
• View Suites by Building/Floor/Lease

Lease Dashboard