Place a sign on your property saying you have property for lease for a mobile tower. And also, no matter how small the space, never accept the terms of any lease without asking for a better deal. To summarize, type of transaction undertaken by your organization to have the right to use an asset.
You have proprietary software that keeps track of all of your lease details including rent increases, option to renew deadlines, lease expiration dates, critical dates and everything in between, the solution acts as a central repository for all leases and enables organizations to perform end-to-end lease management, provides scalability and consistency, and reduces the risk of penalties due to noncompliance. As well, early years of a lease, organizations will prefer to own property rather than lease it.
With dashboard reporting tool, you can generate custom reports that give you the real time strategic insights you need to stay agile and ensure visibility into your lease portfolio, lease tracking and alerts are fairly basic needs, and there are plenty of additional features you can expect from a facilities management software, correspondingly, more robust lease administration packages can be much more costly, but typically can be integrated more easily with other enterprise systems, and—among other things—may be able to assist in lease-versus-buy decisions, manage lease payments and renewal options, and facilitate operating analysis of leased assets.
In addition to that, the unprecedented data deluge and new and evolved regulatory requirements have further compounded the challenges revolving lease management for akin sectors, first and foremost, make sure you determine lease administration staffing levels that make sense for your organization. Above all, if you have an commercial premises used as an office, factory, warehouse or industrial property check out your commercial property lease contracts.
Evaluate lease obligations and space requirements to create a flexible and productive portfolio strategy, choose optimal locations at optimal rent with your mapping, planning, you will have to be responsible for accounting for leases, reviewing lease contracts and identifying embedded leases.
Its lease administration module serves as a centralized data repository allowing users to access the latest lease data for each tenant, second, you want lease administration software that also keeps track of property maintenance and compliance.
Want to check how your Lease Administration Processes are performing? You don’t know what you don’t know. Find out with our Lease Administration Self Assessment Toolkit: