Property lease management software can help property managers and rental businesses keep track of leases as well as automate renewals and handle applicants. It can also keep track of finances as well as legal documents while managing leased assets. The software is usually used to manage commercial or property lease management software rentals, but it is also used to manage equipment leases, which is a lot. Some systems can be used to manage employee or service contract management.
Top 15 Property Lease Management Software in 2022
Property lease management software and lease accounting work together to provide you with complete control over your lease lifetime. Software that helps with lease terminations and buyouts keeps track of lease details, automates renewals, and makes it easier to get out of a lease. In property lease management software, the Financial Accounting Standards Board (FASB), Governmental Accounting Standards Board (GASB), and International Accounting Standards Board (IASB) standards are used to manage income and expenses and generate reports.
You can track lease terms and meet accounting standards all in one place with user-friendly, integrated systems that combine facilities management and lease accounting.
Features of Lease Management Software
Document management is one of the most important features of lease management software. Create lease abstraction templates, store signed lease agreements and clauses, as well as other crucial papers such as service contract agreements, tax applications, maintenance requests, and information about tenants’ insurance.
- Date Observation Keep track of lease start and end dates, as well as other important dates such as past-due payment deadlines. Receive automatic emails and alerts when your lease is about to expire or if your rent is past due.
- Management of applications Create unique application forms, manage application submissions, and screen applicants.
- Asset Management for Leased Properties Keeps track of the condition of leased assets as well as details on preventative maintenance.
- Management of the property estate Income and expenses that come from managing residential and commercial properties, like rent collecting and maintenance, need to be kept track of.
- Marketing By advertising online, you can find new tenants or customers more quickly than you can with traditional methods, which can take longer.
- Reporting Examine current and historical lease data to identify areas where rent collection, occupancy, maintenance request fulfillment, and portfolio management should be improved.
Lease Management Software Types
All-in-one lease management software is used by a lot of businesses, like:
Real Estate Lease Management Software for Residential and Commercial Properties
Real estate professionals employ lease management software for single-family and multifamily residences, commercial properties, and other property types. There will be a place in the software where lease information, such as contract terms, expiration date, and tenant contact information, will be stored. Tenants can be automatically told when their leases are about to be renewed and when they haven’t paid their rent. The software can account for both single-family and multi-family leases when it comes to residential buildings.
Lease management can help commercial real estate owners when serving many renters. It’s possible to use full property management software that has modules for work orders, accounting, and more with other systems.
Software for Lease Management of Equipment
Lease management software keeps track of lease details as well as data on all types of leased assets, such as tools, automobiles, and machinery. On your computer, you can keep track of things like the state of your equipment and how to get in touch with clients. Advanced software can even show you where your equipment is in real-time using GPS, so you can keep an eye on it. To build a more complete lease management system, you might want to look into fleet management software and equipment rental software, depending on the scope of your business.
Software for Employment and Service Contracts
Finally, lease management software can help businesses keep track of lease data for things like jobs and services that are paid for by the company. The software will keep track of 1099 forms and signed contracts as well as information on the contracted employee or service, such as contact information, service fees, and a description of the services rendered.
Soft4Leasing is a property lease management software solution that takes care of everything from the initial proposal to the contracting and reporting process. Leasing asset management, application management, lease origination, credit score automation, document management, and more are all part of the solution, as are many other things, too.
2. Visual Lease
Using Visual Lease is a way to manage real estate and equipment leases. It combines enterprise lease accounting and leases administration into a single package. This solution works in conjunction with ERP systems to provide you with comprehensive control over your company.
ILeasePro is a highly scalable, cloud-based solution for large or mid-sized businesses that includes complete lease management and lease analysis tools that are designed to lower costs, manage risks, and improve lease business intelligence.
Accruent’s Lucernex is a lease management and accounting system. Helps with real estate and equipment leases, compliance with the FASB and IASB, and risk management. This software also helps with risk management and compliance. Lucernex provides businesses with a single point of contact…
An accounting tool called LeaseQuery meets the requirements of FASB ASC 842, IFRS 16, and GASB 87. Error-free amortization schedules and journal entries, as well as setting alerts for important dates and making sure that data is correct, are all important parts. Public and private leases are also possible using LeaseQuery.
LeaseAccelerator is a property lease management software tool that makes sure your company is following ASC 842, IFRS 16, and GASB 87 rules. LeaseAccelerator synchronizes your leases with SAP, Oracle, and other ERP systems.
PropertyZar is a cloud-based property lease management software for residential and commercial property managers. From tenant screening to work order management and online payment, our system makes it simple to manage properties.
8. Nakisa Lease Administration
Nakisa Lease Administration is a property lease management software that keeps all of your lease information in one place. This software helps you manage lease portfolios, improve bookkeeping, and gain a better understanding of your financial data.
9. 360 Property Manager
Property lease management software challenges can be stressful and exhausting in today’s environment. Under the strain of shrinking margins, every penny must be accounted for. You must maintain costs low and occupancy high while ensuring advantageous lease terms.
10. MRI ProLease
The ProLease Real Estate and Facilities Management software is made up of four interconnected modules that are both sophisticated and simple to use. These best-in-class solutions integrate smoothly or can be used independently.
AMTdirect is a web-based lease management and accounting system for businesses with more than 50 real estate properties. It is designed for businesses with more than 50 properties. With AMTdirect, you can manage all of your properties, stores, contracts, maintenance items, jobs, and everyday projects in one spot.
12. CoStar Real Estate Manager
CoStar Real Estate Manager is a set of management tools that help with both real estate and lease management. You’ll be able to make better business judgments if you have access to accurate real estate and lease data.
13. AppFolio Property Manager
Multifamily and single-family, commercial, student housing, homeowners’ and condo associations, and mixed portfolio property managers can use AppFolio Property Manager’s mobile, all-in-one property management software to efficiently sell, manage, and expand their properties.
Buildium is the only property management software that was made by property managers for property managers. Property managers can be more efficient and take control of every element of their business with Buildium’s all-in-one, cloud-based solution.
Small and medium-sized businesses can use SimplifyEm to keep track of their residential properties with help from software. Property accounting, tenant management, lease tracking, bank reconciliation, and more are all included in this cloud-based solution.