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Lease administration is the management of the agreement in the real estate field. It includes administering all the tasks that are listed in the company’s lease portfolio. The tasks consist of various jobs like reporting, coordinating between stakeholders, managing documents, managing rent, and several administrative activities. Leases might vary from property to property; hence, every
Lease administration has evolved from being a support function to a more strategic role that allows industry players to optimize lease portfolio performance. An efficiently managed lease administration can help gain complete access to the lease portfolio, improve risk assessment and management, maximize recoveries, and ensure timely accounting and compliance. That said, given the wide
Lease administration plays a key role in huge cost savings and also drives better control and strategic planning of lease portfolios. A proactive approach in lease administration can help to your better manage risks, recoveries, execution of lease terms, and accounting. However, even though lease administration is an administrative task, it is quite a complex
Lease administration plays a key role in efficiently managing lease portfolios and driving maximum returns. However, despite the high stakes most real estate companies, struggle to streamline lease administration. As a result, even minor errors end up impacting business significantly with companies running into hundreds of thousands of dollars in loss. Financial and operational risks
The retail sector is facing challenges that are not just demanding but unprecedented spurred by the pandemic and its long-term impact. Amidst the volatility and uncertainty, retailers are striving hard to optimize profitability while creating value through lease restructuring and management. Given the situation, the process of lease administration has evolved from a mere support
The telecom industry is one of the most dynamic landscapes characterized by rapidly evolving technology and changing customer needs. To meet the ever-changing market demands, telecom companies are continually trying to expand their infrastructure. In this effort, leasing has emerged to one of the sought after strategies. But this has brought in added challenge. Organizations
Lease management and administration can be quite complex and challenging for companies with multiple assets or locations, such as the telecom and retail industry players. In addition to that, the unprecedented data deluge and new and evolved regulatory requirements have further compounded the challenges revolving lease management for these sectors. To ensure efficient operations and
Constantly evolving technologies and shifting business norms are redefining the commercial real estate industry, which is also growing at a rapid pace. Given the new reality and the changing trends, governments and investors not just expect a profitable business but are increasingly focusing on commercial property sustainability. Since commercial properties significantly contribute to energy use
Both Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) brought in sweeping changes, compelling real estate industry to rethink not just lease accounting but also lease administration processes. Aside from extensive regulatory changes, proliferation of digital technology, changing stakeholders’ expectations, volatile economic environment and intensifying competition continue to present daunting challenges
Real estate players are increasingly installing lease administration and accounting software. Given the stringent compliance mandate by International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB), expansive portfolios and complex nature of transactions, software applications have become rather mainstream. While some prefer to go for a single vendor approach for both
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