Can I abstract a lease using iLeasePro?
iLeasePro is a lease abstraction tool that has been designed to minimize the abstracting effort and time to complete for both equipment and real estate leases. For equipment lease abstracting, iLeasePro enables you to walk through a lease in a wizard-like fashion and record the lease terms and dates, clauses & options, insurance, the critical equipment information like location of asset, asset description, serial number, useful life and asset value. For real estate lease abstracting, iLeasePro enables you to walk through a lease in a wizard-like fashion and record the Property & unit, lease terms and dates, clauses & options, insurance, the critical financial information including base rent, taxes, operating expenses, escalations, percentage rents and expense chargebacks or common area maintenance (CAM). In addition to these key lease values, iLeasePro allows you to record personalized Notes for each leases and keeps a History of every change made to the lease data.
Can I attach electronic documents to my lease?
Yes. iLeasePro has a powerful Document Management feature that enables you to attach any electronic document to the lease. You can use the pre-populated values, or define your own Document Types and Descriptions of the documents that will be stored to ensure consistency across your organization. Each document is automatically categorized according to your location within the solution. For example if you are in the Insurance section and attach an insurance related document, the document will be attached to the lease and categorized under Insurance. This feature works cooperatively with the Report Center to allow you to instantly identify the documents, or any missing documents, associated with each lease by category like Insurance, Rent, Expenses etc. Also note that this feature allows you to report by category across your portfolio.
Can I attach pictures to a lease?
Yes. Using the iLeasePro Document Management feature you can attach any type of electronic document to a lease. Any image that is stored with a lease can be accessed through the Document Management feature or as a collage from the lease List View.
Can I manage my equipment leases?
Yes. iLeasePro offers you the ability to manage equipment leases. Once you start the process to add a new lease, iLeasePro asks you which type of lease you would like to add. Select Equipment and the iLeasePro solution will be customized for you to begin abstracting your equipment lease.
Can I manage my real estate leases?
Yes. iLeasePro offers you the ability to manage real estate leases. Once you start the process to add a new lease, iLeasePro asks you which type of lease you would like to add. Select Real Estate and the iLeasePro solution will be customized for you to begin abstracting your real estate lease.
Does iLeasePro offer any type of contact management feature?
Yes. iLeasePro allows you to link contacts by role with each lease. Add a contact only one time and link that contact to any number of leases. This gives you instant access to your key resources for each lease at the click of a button.
Does iLeasePro offer Lease Portfolio Management?
Yes. The iLeasePro Portfolio Management feature is a very powerful feature that allows you to segment your portfolio of leases in whatever way you like. You can set up as many Groups or SubGroups as you like and assign leases to these Groups or Subgroups to allow for an enhanced data aggregation and reporting experience.
I am looking for a solution that will calculate the rent payment automatically. Does iLeasePro do this?
Yes. For both Real Estate and Equipment Leases. The iLeasePro Rent and Rent Step feature eliminates calculation errors and the need of a standalone calculation process when performing these complex lease term rent calculations.
- Pre-defined types of rent payments (by Year, by Month and for Real Estate lease PSF by Year and PSF By Month)
- Apply Free Rent concessions
- Amortize additional lease costs across the lease term
- Calculate rent steps as Flat Rent increases, Incremental increases or Simple or Compounded Percentage increases (for CPI based rents).
What is the maximum number of leases that iLeasePro can handle?
Unlimited. iLeasePro is a cloud-based solution = highly scalable
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