Manage leases from both the landlord and tenant perspectives.
Whether you’re a landlord, tenant or both, the VisionFM Lease module will organize your leasing information, record payments and notify you of critical dates. Leasing information can stand on its own or can be connected to space in the database, which ties the lease into department information, maintenance, projects, etc.
Like all of VisionFM’s modules the lease costs can be paid / received in accounts and associated to the total operating cost of the building. Even capture extra costs such as capital improvements for tenants that are billable under their lease agreement, and create a one-time charge or divide it over a payment period.
Features
Track leases as a tenant and/or landlord.
Track contact information, lease type, sub-leases, duration and deposits.
Obtains accurate areas directly from the CAD drawings or use square footage negotiated in the lease.
Lease areas obtained from the drawings include actual square footage and rentable/usable ratios.
Track lease terms and rates for rent, taxes, operating expenses, miscellaneous, parking and storage.
Track recurring and non-recurring costs including taxes.
Maintain landlord and tenant information, lease terms and conditions.
Track critical dates such as renewals and lease expiration and generate pending date tickler reports.
Generate lease adjustment reports and invoices based on actual operating costs vs. rent collected to date.
Track all operating costs by account and establish which accounts are recoverable by lease.
Record capital projects chargeable to tenants for inclusion into lease adjustments.
Track general lease notes.
Record lease payments sent / received.
Attach a scanned image of lease documents.
Forecast variable lease costs such as tax increases, calculated as a cost per square foot or as a percentage increase based on the previous periods value.
Benefits
Make more informed leasing decisions by viewing lease information in combination with other VisionFM data from other modules such as space chargebacks, churn, utilities, capital projects, etc.
View total occupancy costs by combining lease information with operating costs and capital projects.
Adjust variable costs (such as property taxes) throughout the life of the lease to better forecast future expenses.
With VisionFM's optional Event Notification System repetitive tasks can be automated such as the notification of pending lease options.
