How can I manage the financial risks?
iLeasePro offers several ways to monitor and mitigate your lease related risks. iLeasePro offers Portfolio Management and has been designed to aggregate and disseminate your lease data into customized groups and subgroups to allow you to view your data both horizontally and vertically across your organization. The Dashboard gives you a high level view at your portfolio to allow for quick determination of any upcoming issues. The Critical Date and Notifications feature monitors all of the defined critical dates in the solution and emails a notification alert of any upcoming due dates at intervals you select to keep you informed without having to log into the solution. The Report Center provide you with all of the reporting you will need to identify any potential risks or issues within your portfolio.
Our lease has expense-stops and I would like to make sure that we are not overpaying.
Expense-stops are the agreed dollar amount of taxes and operating expense over which you, as the lessee or tenant, will pay back to the lessor based on your prorated share of increases. These calculations can be very confusing and complex and have been identified as an area where most Lessees overpay. Some expenses may be included and some may not. The iLeasePro Expense Chargeback feature will handle all of this for you so you don't have to worry about tracking and can focus on you other priorities.
The iLeasePro Expense Chargeback feature is a powerful auditing tool that you can use to ensure that you are never over paying the Lessor. iLeasePro allows you to capture and record the Base Rent Operating and Tax Expenses at the detail line level or as one lump sum and the Pro-rated share of these expenses you are expected to pay back to the Lessor as your baseline. For each following year within the lease term, you will enter the actual operating expenses and tax amounts and iLeasePro will automatically calculate the Amount Due and produce a detailed report to allow you to reconcile any discrepancies. This feature could save you thousands of dollars in overpayments!
We need detailed auditing of any changes made to the lease data on an ongoing basis. Can iLeasePro provide this level of detail?
Yes. iLeasePro tracks every change made to any field value for each lease. Each change made is tracked with a date timestamp and the user id of the person who made the change. Select the History tab for any lease to view these actions.
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