Technology

Lease Logistics

Software Solutions Let Tenants, Owners, and Managers Track Leases More Efficiently.

As investors seek capital support from public markets, accounting procedures for all types of leased properties have come under closer scrutiny. Lease-administration software programs record and track lease information as well as perform necessary accounting, basic analysis, and reporting functions. Whether used by corporate tenants, property owners, or asset managers, lease-administration software offers the ability to organize property data into useful information that can be integrated into an accounting system.

The following listing of lease-administration software programs is for informational purposes only. Contact companies directly for more specific information.

CorpSuite Plus
ASI International, 1990 N. California Blvd., Suite 530, Walnut Creek, CA 94596; (925) 906-4644, ext. 15; http://www.asinotes.com/

Features: This Lotus Notes-based corporate real estate management system is made up of integrated modules that track leased/owned properties, contacts, rent payments, and billings. It features a tickler system that automatically e-mails a reminder to specified personnel in advance of critical dates. It also lets each user build a personalized menu of frequently used links and provides a portfolio of reports and report views that display information in a variety of ways.

Requirements: Pentium 133 processor; Windows 95, 98, or NT; 32 MB RAM; 100 MB hard drive space

Price: $25,000 for five users, plus support and maintenance fees

Gold Collection
Timberline Software Corp., 15195 N.W. Greenbrier Parkway, Beaverton, OR 97006; (503) 690-6775; http://www.timberline.com/

Features: Developed for property owners, managers, and developers and suitable for office, industrial, retail, and multifamily properties, the Gold Collection provides integrated accounting, lease and maintenance management, and reporting functions. The lease-based design accommodates any combination of leases, tenants, units, and properties. The general-ledger account structure allows the tracking of multiple fiscal entities and profit centers in one database. The modular program can be integrated with software programs for construction estimating and accounting.

Requirements: Pentium 133 processor; Windows 95, 98, or NT; 32-48 MB RAM; 500 MB hard drive space

Price: $10,000-$12,000 depending on the number of modules

MILM++ 5.0
MacMunnis, 1920 Waukegan Road, Glenview, IL 60025; (847) 657-8300; http://www.macmunnis.com/

Features: This program offers lease-management, accounting, and reporting capabilities for leased/owned portfolios of office, industrial, and retail properties. Using an icon-driven, split-window format, MILM generates both lease information and status reports for abstracts, contacts, inventory, payments, and rents. The system comes with no predetermined set of options or preferences, letting users adapt the program to a company’s needs.

Requirements: Pentium 133 processor, Windows 95 or NT, 12-16 MB RAM, 30 MB hard drive space

Price: $599

MRI for Windows
Management Reports International, 23945 Mercantile Road, Cleveland, OH 44122; (800) 321-8770; http://www.mrisystem.com/

Features: This software suite includes modules for commercial, residential, asset, and advanced retail and facilities management, as well as analysis tools for forecasting, budgeting, and projections. The commercial management module, designed for property managers, developers, and investors, combines accounts payable and general-ledger functions with lease and tenant management operations. It tracks and integrates information about leases, locations, taxes, tenants, maintenance, and expenses across the entire organization. The lease-administration assistant provides control over lease tracking.

Requirements: Pentium II processor, Windows 95 or NT, 64 MB RAM, 100 MB hard drive space

Price: Commercial management module starts at $3,500

Multi-Family Property Management
RealData, 78 N. Main St., South Norwalk, CT 06854; (800) 899-6060; http://www.realdata-inc.com/

Features: Designed by real estate professionals, this program combines accounting with a property management system. For owners and managers of condominiums, multifamily complexes, or portfolios of multifamily properties, it provides management and financial reports, double-entry accounting, tenant tracking and billing, vendor tracking, and lease-traffic analysis.

Requirements: 486 processor, Windows 95, 16 MB RAM, 35 MB hard drive space

Price: 100-unit, single user, $395; multi-user versions available

Property Czar
Czar Software, 1600 Lee Trevino Drive, Suite C-1, El Paso, TX 79936; (915) 595-8787; http://www.czar.com/

Features: Geared toward managers and owners of small retail, office, and multifamily properties, this program provides accounting, reporting, analysis, and lease management. The intuitive interface uses wizards to enter and track new owner, tenant, vendor, and property information. It prints labels, checks, forms, and three types of owner statements. It offers automatic account reconciliation and ensures that all transactions are committed to the database. Customized programs, network options, and an additional report designer also are available.

Requirements: 486 processor; Windows 95, 98, or NT; 32 MB RAM; 6 MB hard drive space

Price: $395 for up to 50 properties

Real Estate Manager
Link Systems, 1 Dock St., Stamford, CT 06902; (212) 949-5465, ext. 225; http://www.linksystems.com/

Features: Built using the Microsoft Access database, this software tracks leased/owned information for owners of retail, industrial, and office properties. It features lease management, accounting for tracking obligations and payments, reporting, and basic lease comparison analysis. Reports cover critical dates, expense obligations, payments, SEC and minimum rent schedules, and subleases.

Requirements: Pentium 166 processor, Windows 95 or NT, 32 MB RAM, 20 MB hard drive space

Price: $7,500 site license for unlimited number of users

Realwise Millennium
AVM Technologies, 26074 Avenue Hall, Suite 15, Valencia, CA 91355; (800) 884-9399; http://www.avmtech.com/

Features: Used by corporate retail chains, property owners and managers, developers, and asset managers, this program has six functions: accounting, job costing for development, payroll, accounts payable, budgeting, and property management. All modules are integrated, and job-cost accounting and general-ledger features work seamlessly. Property management module has features for common-area maintenance, correspondence, rent rolls, and more, addressing the needs of such property types as manufactured-housing communities, self-storage facilities, and condominiums.

Requirements: Pentium 133 processor; Windows 95, 98, NT, or Novell; 32 MB RAM; 30 MB hard drive space

Price: $2,495 to $90,000, based on the number of user licenses

Rent Roll 2000
RealPage, 2395 Midway Road, Building 2, Suite 100, Carrollton, TX 75006; (877) 325-7243; http://www3.realpage.com/

Features: This DOS-based program is a remote-site system that automates basic bookkeeping, lease administration, screening, maintenance and inventory record keeping, and market analysis functions for property managers of affordable-housing and conventional multifamily properties. It offers both cash and accrual accounting, as well as a wide array of reports for evaluating property performance. A Windows-based product, InSite Property Management, provides the same functions but is limited to conventional multifamily properties.

Requirements: 486/66 processor, 8 MB RAM, 100 MB hard drive space

Price: $3,175

Skyline II for Windows
SS&C Technologies, 30 W. Monroe St., Chicago, IL 60603; (800) 507-8964; http://www.ssctech.com/

Features: Suitable for corporate tenants, building owners and managers, and developers of all property types, including mixed use, this system offers lease-management, accounting, reporting, and analytical capabilities. A multi-entity, cross-entity system designed for complex ownership structures, its property management, general-ledger, and accounts-payable features are fully integrated. The program utilizes client-server platforms, graphical user interface, and an SQL server that can connect to other databases.

Requirements: Pentium 133 processor; Windows 95, 98, NT, or Novell; 32 MB RAM; 200 MB hard drive space

Price: From $4,000 to $14,000

Slim/Windows
National Facilities Group, 1 N. LaSalle St., Suite 1800, Chicago IL 60602; (312) 223-9700; http://www.nfgslim.com/

Features: Geared toward corporate tenants and landlords, building owners, government agencies, and universities, this program covers lease option tracking, rental components, space allocations, and common-area maintenance audits. Features include contact management, report writing, and accounting and CAD interfaces. It catalogs an unlimited number of buildings, stores, parcels of land, leases, subleases, and space and rent allocations for each property.

Requirements: 486 processor; Windows 95, 98, or NT; 16 MB RAM; 10-20 MB hard drive space

Price: Starts at $20,000

Spectra for Windows
Spectra Computer Services Ltd., 125 S. Wacker Drive, Suite 300, Chicago, IL 60606; (800) 731-8668, ext. 218; http://www.spectra.ca/

Features: This modular system provides lease-management, accounting, reporting, and analysis functions for owners of retail, industrial, office, and multifamily properties. The relational database integrates accounting for accounts receivable, payable, and general ledger. The program includes more than 250 predefined management, operational, and financial reports. Program data can be exported to Microsoft Word, Excel, and Outlook, and new modules provide data conversion from Yardi, Skyline, and Comtronics programs.

Requirements: Pentium 230 processor; Windows 95, 98, or NT; 64 MB RAM; 100 MB hard drive space

Price: $1,975 to $40,000, depending on the number of modules

Tenant Pro
Property Automation Software Corp., 1100 Centennial Blvd., Suite 230, Richardson, TX 75081; (972) 231-7588; http://www.propertyautomation.com/

Features: Geared toward owners and managers of small multifamily buildings, shopping centers, offices, and self-storage facilities, this integrated product includes tenant management, full general ledger, accounts receivable and payable, check writing, word processing, work orders, and more than 200 reports. It tracks information on tenants, owners, units, vendors, and properties. It offers free telephone support and the ability to increase capacity for additional users incrementally.

Requirements: Pentium 133 processor; Windows 95, 98, or NT; 16-32 MB RAM; 20 MB hard drive space. Also available for Macintosh.

Price: Starts at $495

Visual Lease
Visual Lease LLC, 1000 Highway 9, Suite 201, Woodbridge, NJ 07095; (732) 750-4500; http://www.kbalease.com/

Features: Used for tracking and managing leased/owned real estate, this enterprise-level, customizable client-server system follows the Windows format and open database design. Providing accounting, management, reporting, and analysis functions, it outputs data via Microsoft Word and Excel formats.

Requirements: Pentium 133 processor, Windows 95 or NT, 16 MB RAM, 12 MB hard drive space

Price: $22,500 for a five-user license

Yardi Advantage
Yardi Systems, 819 Reddick Ave., Santa Barbara, CA 93101; (800) 866-1144; http://www.yardi.com/

Features: This application is designed for corporate tenants; owners and managers of multifamily, office, industrial, and retail; partnerships and single-owner properties; and condominium associations. It provides simultaneous cash and accrual accounting, intercompany accounting, report and letter writing features, the ability to load images, several security levels, and commercial lease management.

Requirements: Pentium 100 processor; Windows 95, 98, or NT; 32 MB RAM; 200 MB hard drive space

Price: Starts at $12,000

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