February 18, 2020
These posts address all issues that concern lease management for those in the lease administration or lease management industry. Lease management is about overseeing and managing leases throughout their terms and conditions. It generally involves real estate as well as equipment lease agreements. When effectively applied, lease management helps companies and organizations to streamline leasing costs and revenue as well as minimize or mitigate potential risks.
Lease management includes a number of components and responsibilities. To start with, there is the matter of lease administration which involves document management, lease tracking and payment processing. There’s also the matters of lease compliance and financial management.
Once a lease term is up, lease management considerations shifts to negotiating lease renewals as well as maintaining existing and future tenant and landlord relations. When all of the data is properly plugged into a lease management application integration and real-time data allows for a more efficient lease management operation.
Overall, lease management is an integral part of the commercial real estate industry. With the right tools and software, leases are managed more effectively and this allows companies to optimize their real estate and equipment assets while also controlling costs and operating expenses.