Lease Management Software: Automate the Lease Lifecycle From Lead to Renewal
If your leasing team is struggling with managing the lease lifecycle through spreadsheets, emails and calendar reminders, chances are that you need a software. A lease goes through several stages (enquiries, approvals, payments, documents and renewals) and things can go wrong in any of these stages
A lease management software helps residential and commercial property teams create leases, track occupancy, collect rent and manage renewals.
What problems does a lease management software solve?
Leads get lost as nobody follows up in time
Lease drafts remain pending as it takes days to get approvals
Rent invoices and refund do not match accounting records
Document expiry and renewals are managed manually
Managers cannot get a bird's-eye view of revenue, occupancy or collections except when they have to build reports
What should a lease management software offer? Here are the key features to look for
1. Lease CRM
Where there are leads, there needs to be a CRM. A lease CRM will help your team capture all enquiries and follow up with reminders until a lease is created.
2. Digital lease creation
The process of lease creation, approvals and signing should be digitized to avoid the print-sign-scan routine. Having a software that follows the same approval process for every lease will save the team hours spent tracking approvals or trying to figure out who approved what.
3. Rent management
Invoicing, collections and refunds should be managed from the same software and synced with your ERP and accounting system to ensure that your leasing and finance team are looking at the same numbers.
4. Document and KYC management
Documents are often a pain point as they have an expiry date that are hard to track. The software should help you track expiry and renewals.
5. Work order management
SLAs ensure that the team responds to maintenance requests and completes them on time, ensuring that tenants renew their leases with you.
6. Parking and access control with utility billing
Managing parking, access control and utilities together with your lease makes it easier to avoid billing errors.
7. Real-time dashboards
Having a central place for revenue, occupancy, collections and expiry helps asset managers and portfolio heads make decisions without having to dig into Excel sheets or wait for the finance team's monthly reports.
How LeaseGOTO can help
LeaseGOTO is Property Automate's lease management software, built for residential and commercial property teams. It manages the lifecycle of a lease from lead capture to digital lease creation, rent management, document management and renewal. We also offer mobile apps for operations teams and tenants, open APIs and integrations with accounting software such as Zoho Books, Tally and QuickBooks.
Who is it for?
Property managers to manage day-to-day lease processes and operations
Leasing teams to track leads, renewals and lease creation
Finance managers to handle invoicing, collections and sync with accounting software
Asset managers and portfolio heads to get a bird's-eye view of revenue and occupancy
Final thoughts
Good lease management software does not add more software to your stack but eliminates friction and points of failure in your lease management process. Having everything in one place means fewer approvals to track, documents to share and things to remember. With that, your team can spend more time sealing deals instead of chasing approvals or signing PDFs.
To understand how the software can help your business, request a demo of LeaseGOTO.
FAQs
What is lease management software?
Lease management software is a platform that manages the lease lifecycle, from lead capture to lease creation, approvals, rent, documents and renewals.
Is it suitable for both residential and commercial properties?
Yes. LeaseGOTO works for both residential and commercial leasing teams.
Can it integrate with accounting software?
Yes. We offer open APIs and integrations with accounting software such as Zoho Books, Tally and QuickBooks.
Can leases be signed digitally?
Yes, you can create digital leases with approvals and e-signatures.
Does it track document expiry and renewals?
Yes. Document and KYC management tracks expiry and renewals, and the dashboards show lease expiry.
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