In today’s day and age, it has become increasingly important for businesses to incorporate lease administration as a vital aspect of their day-to-day operations. The process of lease administration India comprises paying the rent due for leased amenities and receiving the rent that is owed for owned facilities. The majority of the real estate companies consider lease administration to play a significant role in the legal and accounting requirement of the real estate portfolio.
Businesses have typically used spreadsheets for managing their leases. But it has often left a lot of room for human error. This has led to the rise of a centralized lease management system that can help in gathering important lease data under one roof and allowing it to be navigated in a simple user-friendly manner.
CRE Lease Matrix is one such lease management platform that not only has stored authentic and accurate lease data but also enables you to compare your standing in the market with others in the industry.
How does Lease Administration Work in India?
Here is a guide pertaining to the workings of lease administration:
Data & Document Collection: Gather all lease documents, title deeds, amendments, plans & pictures in a digital and properly cataloged format for uploading them into the CRE Lease Matrix system.
Generally, the document collection and cataloging will be done by the client internally and shared with the CRE Lease Matrix team electronically or in hard copies. Then, you can collate these documents in an indexed manner for a swifter accurate – access and retrieval.
Data Collection & Review: The team will evaluate the entire data and all the documents delivered and may get in touch with clients for any additional queries. Then, the lease data will be submitted in a stepwise & segment-wise approach for enhanced understanding and proper representation. CRE Lease Matrix incorporates a maker-checker process to ensure the data is accurate.
Assess Data via Reports: A pre-defined set of reports are fed into the lease management software, thereby giving the user an all-encompassing tool to conduct a thorough analysis of the abstracted lease data. Numerous filter selections and user success mapping facilitate the viewing of the categorized lease data.
Explore Data with Simulations & Alerts: Lease data abstracted will aid the user to explore significant metrics such as Critical Data, Escalations, KPIs & Portfolio Summary more smoothly and without having to scroll down much. You can keep an eye on lease data by configuring periodic alerts. Additionally, forecasts and budgeting of lease expenses/revenues are made simple with pre-built formats to assist the business to avert working in silos and having a centralized reference source.
Digital Documentation: Digitization is other of the day, particularly after the pandemic. Why is CRE Lease Matrix the best lease administration platform India? It is because the lease documents are stored in a digitized manner with just a click. You don’t need to have scanned copies in common folders or network drives or even separate digital file maintenance software.
When you’re using this system, critical clauses will be indexed to the pages from the reference documents. This enables the user to catch a quick glimpse without going through the trouble of scrolling through the entire document.
In a nutshell, this is why CRE Lease Matrix is India’s finest lease management software.
To know more, visit our website www.creleasematrix.com now.