Blog tagged as lease abstraction

The Common Area Maintenance or CAM reconciliation process can be a very hectic task, especially when it comes to commercial real estate businesses. With multiple properties to handle, it can be overwhelming. But CAM reconciliation is crucial nonetheless and property managers can not afford to avoid ...

As Financial Accounting Standards Board (FASB) released new lease standards, you must get a proper lease audit to stay on track. This has complicated the lease abstraction process, which is one of the biggest reasons you need to audit your lease. If you do not have all your data and terms in place, ...

Lease accounting is the process of understanding the impact of your companies leasing activities on its finances and cash flow. Though this sounds simple, it is a much more complicated process in reality and has put many companies under the FASB and SEC radar quite easily. If you do the lease accoun...

At the end of 2021, the Financial Accounting Standard Board (FASB) rolled out new rules for lease accounting. There have been many new additions that any property manager needs to notice. A proper lease accounting process can help your real estate business keep track of financial impacts on the comp...

A complete lease can be filled with legal word jargon and complex language. It can end up being a nightmare for you if you are not trained to understand these. Getting a concise summary of the lease makes life much easier for a property manager. Finding comprehensible information and data from huge ...

A Lease Agreement is the basic backbone of all transactions between the landlord and tenants. There are residential leases and commercial lease agreements that are different but there are many essentials that every lease must include, no matter what the type. It lays out the terms and conditions of ...

Property management is a demanding job. Unlike a 9 to 5 job, managing properties requires you to work at your client’s convenience. On top of that, property managers also need to handle marketing, legal work, maintenance, and other tasks. Looks challenging? You can overcome most of your business obs...

With the growth of your real estate business, non-core tasks such as accounting, administration, and compliance can become hard to manage. Instead of hiring more staff, you can choose to outsource these back-office tasks. Outsourcing has numerous benefits which is why over more than a third...

The Covid-19 pandemic brought unprecedented changes to every global industry--including real estate. Companies are making up for the lost time by rethinking their work strategy. As more employees have started working remotely, property managers are also considering outsourcing.  

Outs...