They say that imitation is the highest form of flattery. Whether it’s in professional athletics, product development or, heck, even commercial real estate, if you’re doing something that works, other people are going to try and do the same thing.
This brings up an interesting observation. With the volume of lease administration courses, lease administration certifications and dedicated lease administration careers out there, it demonstrates how involved and intensive lease administration is. If there was a way to do better lease administration — more efficient lease administration — wouldn’t you want to consider an investment in it?
This is where lease administration software steps in.
What Is Lease Administration?
First, let’s take a step back and cover what lease administration is and what we’re actually talking about. We have covered this topic in great detail in previous posts, and our favorite way to define it is: “Lease Administration is the ongoing process of gathering key business and legal points from leases to ensure contract adherence (the past) and applying these data points into meaningful metrics to predict and standardize better utilization of real estate (the future).”
Why the Lease Administration Training Market Is So Crowded
If you do a search on a job site like Indeed.com, you’ll see more than 800 open listings under “Lease Administrator” alone. It’s a position that is in high demand, which is why there are also a wide variety of courses and certifications you can pursue to hone your lease administration skills. They’re offered by universities, administrative programs and even companies that specialize in lease administration solutions. Additional programs are being added every day.
So why is this market getting so crowded? Because lease administration is tough! There is so much data to organize and analyze with leases, it can be overwhelming — especially when you’re dealing with a high number of leases. More and more companies are trying to find a solution by hiring experts in lease administration, which is why there are increasingly more certifications and courses to help CRE pros better understand and manage it. But what if you could just use lease administration software instead?
Is Lease Administration Software Worth the Investment?
Lease administration software takes all the complex practices involved in lease administration and simplifies it. Here are three reasons why a lease administration system like Quarem is worth the investment:
- Organization: Instead of going through spreadsheet after spreadsheet (or filing cabinet after filing cabinet), you can manage all of your important lease data and documents in one centralized, cloud-based system. No more aggravating management through outdated methods.
- Control: Instead of feeling like your portfolio is out of control, you can forecast, plan and report on the future of it with lease administration software. Recognizing patterns has never been easier.
- Simplification: This is the core reason why the lease administration training market is so crowded. Lease administration software takes all of the complex elements involved with lease administration and helps you establish simple and attainable standards and processes.
When it comes to lease administration, you can pursue training or a proven software solution. To see how Quarem can work for you, request a demo today.