Traditionally, lease management often relied on manual methods, primarily using Excel spreadsheets to document lease details. While Excel is a powerful analytical tool, it’s not designed as a dedicated lease management software. Excel’s lack of built-in dashboard functionality makes it difficult to generate real-time reports, providing a fragmented view of the entire lease portfolio. This can increase the risk of overlooking critical lease terms.
Common Problems in Real-time Reporting and Analytics Using Excel Sheets
1. Manual Data Entry Leading to Data Inaccuracy
Manually entry of lease data into excel spreadsheets is time-consuming and prone to errors. Human error can lead to inaccurate information, which can have significant financial and legal consequences.
2. Difficulty in Extracting Correct Information
As the number of leases grows, navigating and extracting specific information from multiple excel sheets becomes difficult. This manual process is inefficient and can delay decision-making.
3. Lack of Real-time Updates
Excel doesn’t automatically calculate key metrics like lease expirations, rent due, or occupancy rates based on real-time data. This requires manual calculations, which can be error-prone and time-consuming.
CRE Lease Matrix – A Solution for Leasing Managers
CRE Lease Matrix, a lease management software, equips leasing managers with digital lease documentation. One of its key features is an interactive dashboard, a centralized interface that provides a real-time overview of critical lease information.
By accessing this dashboard, a leasing manager can quickly identify potential issues, monitor performance trends, and make data-driven decisions. With this interactive dashboard, the leasing manager can generate customizable reports tailored to their specific needs.
How CRE Lease Matrix Dashboard Helps
1. Real-time Data Visualization
CRE Lease Matrix dashboard provides a centralized platform for visualizing lease data in real-time. This eliminates the need for manual data abstraction and updates, ensuring that information is always accurate and up-to-date. It offers clear insights into critical metrics such as inventory, total leases, leasing volume and gross leasable area (GLA).
The inventory dashboard provides an overview of occupied leases and vacant leases for leasing managers to get a clear understanding of their portfolio’s status. The total gross leasable area (GLA) metrics in CRE Lease Matrix provides an overview of the total usable space within the leasing portfolio. The leasing volume metric in CRE Lease Matrix offers a visual representation of the portfolio’s leasing activity over time. By analyzing this data, leasing managers can gain valuable insights and make informed decisions.
2. Proactive management
Proactive management through a CRE Lease Matrix dashboard can help identify potential issues before they become problems. By monitoring key metrics and setting alerts for critical events like rent renewal dates and rent escalations, leasing managers can proactively address challenges and mitigate risks.
3. Customizable reports
Customizable reports in CRE Lease Matrix takes data insights from the dashboard that allow leasing managers to create custom reports tailored to specific needs. Real-time reporting and analytics provides a dynamic and interactive view of leasing operations, allowing for timely decision-making & improved efficiency. The leasing manager can have real-time data at his fingertips using lease management software. This helps them to track key performance indicators, monitor performance and analyze market trends to optimize their leasing strategies.
For instance, lease expiry reports can help leasing managers proactively identify upcoming lease expirations. Sales reports allow for easy comparison of sales data across different time periods. This enables leasing managers to identify top performers and track sales trends.
At the click of a button leasing managers can access up-to-date lease reports, such as:
- Lease Expiry Report
- Sales Report
- Security Deposit Report
- Lock-in Periods Report
- Expense Report
- Asset Report
- Franchisee Report
- Clauses Report
By leveraging the insights provided by CRE Lease Matrix’s interactive dashboard, a lease management software, leasing managers can make data-driven decisions, optimize their portfolios, and drive sustainable growth.
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