Managing commercial real estate lease portfolios is a challenging task. Especially if the lease portfolio is large and the leases are spread across multiple geographical locations. Lease administration software platforms make it easier for landlords, tenants, property owners, and managers to keep track of their leases efficiently, manage lease obligations effectively, and stay on top of their lease portfolios. In our blog this week, we review the top 10 lease administration software platforms of 2022 and discuss their key features.
MRI Software
Truly the giant when it comes to offering robust lease administration solutions, MRI has more than 52,000 clients across 170 countries. The MRI lease administration software solutions are top-rated in the industry. Top lease administration platforms, AMT Direct, Leverton AI, ProLease, Manhattan Trimble, and Cube Horizon are now all a part of the MRI software thus making its lease management software solution set even more powerful. MRI offers end-to-end lease portfolio management solutions covering both real estate and equipment lease administration, compliance requirements, lease accounting, detailed lease reporting, space management, and CAFM requirements. It is the go-to solution for compliance with the ASC 842/IFRS 16 lease accounting standards and offers dual reporting on the same leases. With automated lease workflows, OCRs for faster data recognition, anomaly detection, and predictive analytics that help you manage your lease portfolios effectively. MRI lease management tools help users make the right business decisions and generate superior ROI on their leases by offering them access to all the data they need, just when they need it. Whether you have real estate or equipment leases, MRI has the answer!
Website Link – https://www.mrisoftware.com/
Yardi property management software
An innovative property management software for all property types, Yardi is a leading lease administration and real estate property management software. Yardi offers 2 innovative property management software programs, namely, Yardi Voyager and Yardi Breeze covering lease accounting, operations, and other ancillary services for both, commercial and residential real estate. Many users regard Yardi to be one of the best lease administration software to manage large lease portfolios. However, customization can be a bit tricky in Yardi and the platform can be a bit slower than some others listed here.
Website Link – https://www.yardi.com/
Visual Lease
Visual Lease is a lease administration software with a twist. The company brands itself as a lease optimization software, meaning, one that helps users optimize their lease portfolio for maximum ROI. Visual Lease offers powerful lease accounting, lease administration, and compliance solutions. Visual Lease is widely used across various industry verticals including services, healthcare, government, construction, manufacturing, retail, and transportation. Visual lease is easy-to-use and has great lease organization capabilities. However, it lacks a project management system, so tracking your lease renewal actions or other capital projects can be challenging.
Website Link – https://visuallease.com/
Lease Accelerator
Lease Accelerator is a complete lease lifecycle automation software that covers both equipment and real estate leases effectively. Lease Accelerator has strong reporting, accounting, and governance modules and allows you to scale easily so you can go from managing a lease portfolio of just a couple of leases to thousands in no time. Lease Accelerator also supports compliance goals allowing your lease administration team to get audit-ready in no time! Currently, there are more than 700,000 leases that are being managed across the world with Lease Accelerator. This lease administration software really stands out for its ease of use, custom reporting templates, ability to bulk import leases, and continuous system updates that ensure the software keeps up with the needs of the modern lease administrator.
Website Link – https://explore.leaseaccelerator.com/
Accruent-Lucernex
Accurent offers potent lease administration and accounting software solutions for real estate and equipment leases across multiple industries including corporate, healthcare, hospitality, telecommunications, manufacturing, retail, metal and mining, utilities, oil and gas, pharma, public sector, and many others. Accurent has also acquired Lucernex, a cloud-based, lease administration and accounting software platform that automates lease administration and accounting effectively for both, real estate and equipment leases. Lucernex, powered by Accurent offers a single, 360-degree view of your entire lease portfolio allowing you to take data driven business decisions that help you optimize your overall lease portfolio ROI. The platform helps you identify key lease portfolio obligations and opportunities easily, offers customizable workflows and makes your lease administration function more process oriented by automating key tasks such as approvals. It also supports the financial reporting requirements as per the new FASB regulations helping you meet compliance goals effectively.
Website Link – https://www.accruent.com/solutions/lease-administration-accounting/lease-administration-accounting-lucernex
Lease Harbor
The USP of Lease Harbor lease administration software platform is the simplicity with which it approaches lease administration. Lease Harbor is an end-to-end lease management platform for equipment and real estate leases that covers lease accounting, lease administration, compliance, task management, and workflow, ERP, and data integration effectively. Lease Harbor supports bulk data uploads, inputs, and updates–a very useful feature if you have a large lease portfolio and offers unlimited custom configurations for lease fields, reporting templates, task reminders, etc. It has a robut search feature that ensures easy and quick access to lease information when you need it at both a bird’s eye view and in-depth levels.
Website Link – https://leaseharbor.com/
Tango Lease
Tango lease administration software is an end-to-end, next generation, lease real estate and facilities management software platform that truly covers everything from strategy to execution. Tango Lease is a feature-rich lease management platform covering both equipment and real estate leases. It offers compliance, end-to-end lease activity management including abstraction, renewals, clause reviews, rent or lease payment processing, expense calculations, lease audits, occupancy, operating expense review and analysis, and more. World’s leading corporations and real estate and accounting firms rely on Tango Lease to manage their lease portfolios effectively and efficiently. Tango Lease is widely used across various industry verticals including manufacturing, telecommunications, technology, retail, corporate, healthcare, and financial services.
Website Link – https://tangoanalytics.com/products/tango-lease/
Lease Query
Lease Query simplifies lease management through its light and crisp lease administration and accounting software that covers all aspects of lease administration and accounting including compliance for all lease types–real estate and equipment. Lease Query offers custom integration with your existing ERP solutions seamlessly, to eliminate manual efforts and to provide you with complete visibility of the financial aspects related to your leases, so you can take data-driven business decisions and optimize the ROI on your leases. The USP of Lease Query lies in its user-friendly interface and a very powerful search engine that ensures any lease data you need is at your fingertip, on-demand. Lease Query is a great, budget-friendly solution for lease management if your lease portfolio is not very large. The company is also known for its great customer service and support.
Website Link – https://leasequery.com/
CoStar Real Estate Manager
CoStar real estate manager is a powerful lease administration platform from the leading commercial real estate services provider, CoStar. It provides end-to-end lease administration solutions including lease accounting, compliance, and real estate lease portfolio optimization. It integrates with other CoStar solutions on the market research and data analytics front to form a very powerful tool to help manage your lease portfolio efficiently. CoStar Real Estate Manager integrates seamlessly with client ERP and accounting systems to give you a consolidated view of your lease obligations. Custom reports are just a click away with the CoStar lease administration and accounting software! The platform is one of the most comprehensive ones in terms of lease administration.
Website Link – https://www.costar.com/
Oracle JD Edwards
Oracle JD Edwards is a popular lease administration software platform in the telecommunications industry. It is primarily used by telecom companies to manage their cell-tower leases. Cell-tower lease portfolio management is complex and has various nuances which are often not seen in real estate leases. Oracle JD Edwards caters to these nuances effectively and is hence a leading lease management platform for cell tower leases. The company offers a complete suite of asset lifecycle management and financial management tools which are leveraged effectively to create a very powerful cell tower lease management system within the Oracle JD Edwards platform.
Website Link – https://www.oracle.com/in/applications/jd-edwards-enterpriseone/
Rebolease.com, powered by RE BackOffice, Inc., is a premier provider of lease abstraction, administration, audit, and accounting services. Headquartered in Pittsburgh, PA, we are a global boutique firm, providing high-quality services to top-tier clients across industry verticals, covering every type of lease and on any lease platform. We are proud to be a trusted partner, for 15+ years, to leading retailers, REITs, property owners/managers, and corporate accounts seeking strategic advantage. All client projects are performed in-house.