4 Organizations that Will Benefit from Lease Management Software

By Meredith Beasley | Lease Management Software

Nov 20
4 Organizations that Will Benefit from Lease Management Software

The digital world is a tremendous place that has all types of gizmos and gadgets that help pinpoint specific behaviors of people and their online habits. Though the information right at our fingertips helps us reach others in an effective way, there’s also nothing like face to face interaction. 

During my time at Quarem, I’ve been fortunate enough to attend events across several different industries and interact with professionals from all sectors of commercial real estate. These events and professionals have given me the opportunity to observe real-time reactions to the way we present our brand. 

The most interesting observation I’ve made when talking with professionals that manage commercial real estate, ranging from franchise owners to healthcare providers, is that often times people don’t look at their commercial real estate in the black and white terms of real estate. 

I know this seems confusing but let me try to paint a better picture. At the end of the day, any business on this planet interacts with commercial real estate in some way, whether it be through a single office lease or 100+ locations of retail. I’ve noticed that organizations tend to view their real estate in their own personalized terms. To them, their commercial lease is another restaurant, office, location, etc., which means sometimes, the CRE centric marketing buzzwords and phrases don’t always click. 

So, let’s set all fancy labels and buzzwords aside, and take a look at a few types of professionals that utilize Quarem’s real estate management software to help them organize their locations, offices, spaces, real estate….. 

Lease Administrator

This professional operates under many titles, but at the end of the day this is anyone that manages multiple leases for an organization. Whether you’re a small operation managing a few locations on a spreadsheet or large entity with a portfolio on a global scale, lease management software provides two essential benefits: total organization and strategic guidance. Simply put, all of your leases are abstracted and stored in one searchable system that allows you to track critical dates and create reports that help you make decisions. 

Some more specific examples of ways lease administrators have used Quarem include: 

  • Abstracting complex leases that have several extensions or amendments 
  • Managing big changes, like business model restructuring 
  • Analyzing specific metrics, like space utilization, while working towards expansion
  • Organizing both real estate and equipment leases for ASC 842/IFRS 16 lease accounting

Broker

Lease management software, like Quarem, is a broker’s ultimate multi-tool. It combines all the essentials of lead nurturing and deal management, while providing a flexible platform to collaborate with clients. 

Lease management software helps brokers cultivate relationships with guidance in mind. Brokers can become a strategic member of an organization’s team by utilizing the software as a platform for corporate services. 

Equipment Lease Manager

That’s right – lease management software goes beyond the bounds of real estate. The updated ASC 842/IFRS 16 lease accounting standards have given us the opportunity to extend our reach into industries we’ve never served before. This includes organizations within the energy sector that manufacture products using leased equipment. 

Luckily, Quarem offers users the option to manage both real estate and equipment leases on the platform. After building the income/expense schedule for the life of the lease, the software guides users through the lease accounting set up process, and expertly calculates the ROU, creates the amortization schedules, and generates the corresponding journal entries. 

Property Owners/Landlords

No matter what type of property you own, Quarem can help you manage it. The properties feature allows users to create individual profiles for each property, where they can track the rent roll for the entire building, take notes on things like maintenance issues, and create critical dates for upcoming reminders, like expirations. 

Additionally, property owners can dive deep into their data with the help of the report builder. Users can report on metrics, like tenant mix, occupancy vs. vacancy or future expense obligations. 

At the end of the day, no matter if you own space, lease space, occupy space, or some combination of the three, lease management software like Quarem can help you stay on top of all the important details related to your real estate. For even more insight into the types of professionals that utilize Quarem, schedule a demo of the software with a member of our team. 

About the Author

Meredith Beasley serves as the VP of Marketing & Communications for Quarem. She is responsible for developing and implementing Quarem’s global branding strategy and works with both digital and traditional forms of media to better establish the Quarem brand.

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