Real Estate Portfolio Management / Lease Administration

Lease Administration: Application Overview

The Lease Administration application includes tasks that facilitate lease data entry and that enable you to track critical lease and option due dates. The application includes a wizard interface and forms that present data in panels, so you can choose the data entry method that best suits your needs.

The application also includes the Lease Portfolio dashboard that provides easy access to comprehensive lease data, and includes notifications for alerts. You configure the alerts so that you receive notifications of critical due dates using the schedule that you define.

You can track and manage suites, including highlighting vacant suites on a floor plan drawing.

Typical Workflow

A typical workflow to manage your leases includes the following tasks.

Step 1: Enter the background data that lease administrators need to enter lease information.

This information can include cost and responsibility categories used when entering clauses for leases. Additionally, the business process owner can define how and when alerts for options and lease due dates are issued, and define lease templates.

See Background Data for Lease Administration.

Step 2: Lease administrators add and maintain information for leases, using the tool that best suites their needs.

Lease administrators can enter leases using the Lease Portfolio Console, a wizard that guides them through the process, or a simple form that enables them to enter a subset of lease information quickly.

See Overview of Tasks for Editing Leases and Portfolio Items.

Step 3: Using a dashboard view, lease administrators track critical dates for lease and option expiration, validate responsibilities, track lease changes, and issue cash flow reports.

See Lease Portfolio process and Lease Portfolio Dashboard.

Step 4: Lease administrators and portfolio managers review data when making key decisions on leases.

When deciding whether to renew a lease, or to exercise lease options, lease administrators can review key details for individual leases and portfolio items, or review summary information that provides a high-level analysis of your real property inventory. When deciding whether to buy or to sell property or buildings, portfolio managers generate lease financial reports.

See Lease Administration Reports.

Optionally, lease administrators enter notes about a lease using communication logs.

For example, these notes can include particular events pertaining to a lease, tenant complaints, and legal correspondence. You can associate a document with the communication log, and can review the log and associated document as needed.

See Lease Communication Logs.

Optionally, lease administrators can develop a suite inventory.

The suite inventory can include floor plan drawings developed by a CAD specialist if you need this level of detail, but you can also track suites with only an alphanumeric inventory. See Suite Analysis Process Overview.

1. Review vacant suites, suites with leases that are about to expire, or suites for specific leases, buildings, or floors. See Suite Reports.
2. Draw Suites: Optionally, your CAD specialist can use the Archibus Smart Client Extension for AutoCAD to create suite asset symbols. See Draw Suites. and Graphically Documenting Leased Areas.
3. If you have a CAD inventory that depicts your leased areas as suite asset symbols, you can view unaccounted suite area - portions of the floor that are rentable but that are not currently being charged to any lease. See View Unaccounted Suite Area.

Step 5: Both executives and lease and cost administrators can use the Global Portfolio Dashboard to access data for footprint, employee headcounts, and projected operating costs, both current and in the near future.

The Global Portfolio Dashboard presents overall statistics on your total Real Estate portfolio in your organization’s Budget Currency. You can review statistics for all real estate portfolio items and transactions, even for parts of your portfolio that are located in foreign locales using cost transactions entered in the locale's local currency.

See Global Portfolio Dashboard.