What are Visual Lease users saying about the software?

Visual Lease

Overall, A+ experience.

Pros

Visual Lease makes Lease and Asset Management simple and easy to Administer.

Cons

Visual Lease is pretty versatile and there wasn't much I can say to improve it.

Great integration of Lease Admin and Accounting

We have only just begun our journey, but I am very impressed with the customer service and knowledge of our implementation manager and our account manager. It gives me great confidence that we will get the support we need going forward.

Pros

Visual Lease is exactly what we were looking for. We had an existing lease administration system, but were still doing the accounting manually. The lease administration functions are much easier to use and there is a seamless flow into the lease accounting functions. Our implementation manager was amazing. She was able to walk us through the setup process and answered all of our questions. I am confident that I can find the right data quickly in Visual Lease where I just stopped going into the old database because it was much too cumbersome to extract the data in the format I needed it. I also have the confidence that our accounting team is getting the correct data now that we are no longer manually sending reports.

Cons

They have some side features like project management that are limited in nature. Although not a primary purpose of the software, some additional improvements in these areas would make it that much better of a product. Also, the mapping had some inaccuracies that we were able to manually overcome, but should continue to be improved.

Experience with Visual Lease

Pros

This product is user friendly, I have never experienced an outage to the site or slow performance as I have with other products.

Cons

My only wish is that we could customize more fields.

Capterra-DA

Pros

Reporting for accounting and AP feed for journal entries.

Cons

Difficult at first to learn. Had difficulties with contacts set up as payors and when the property sold there is a certain order to follow; otherwise, you are updating the new contact as the previous contact and losing the history.

Easy to use for real estate attorneys

Excellent. My client isn't very organized in any other aspect except their leases - all thanks to Visual Lease!

Pros

Visual Lease is easy to use to review and confirm any information about a lease in one place - address, landlord, important dates, all the related documents, and even common names that my client uses to identify the lease internally.

Cons

I had a hard time (and still do) with the report feature. After a couple of years, I accidentally figured out what I needed. Before that, I had the administrator run reports.

It's Okay

Pros

The interface is easy to follow and it's not a difficult program to learn/navigate.

Cons

The reporting is lacking in capability, ease of use, and reliability.

Visual Lease makes managing your company's leases a breeze.

Pros

Reporting, accounting and compliance management features provided by Visual Leases are critical for my company's global lease management, compliance with GAAP & IFRS standards, financial statement and disclosure note preparation, and maintaining lease key dates.

Cons

The document management feature does not allow for all lease files to be uploaded and we have to post a file path to an offline location for those leases.

Ease of use

Pros

Easy to setup leases and users and also the management of both. Its very intuitive for the ones whos using lease management software for the first time.

Cons

I have yet to come across something which I don't like about.

Review

Everyone has been very helpful with any issues I have ran in to. My overall experience has been very good.

Pros

Able to view leases and abstracts quickly. Since I pay the rent for over 100 locations I look at the financials and this is very helpful.

Cons

As of now I have not found anything I do not like about Visual Lease

Easy to use product with good funcionality and customer service

Pros

The bulk upload feature is a real time saver, particularly when you have a lot of leases to include.

Cons

Perhaps it could have a better filtering functionality.

Very Functional & User Friendly

Pros

Ease of use and the capability to pull many different reports for rent and other clauses.

Cons

Better functionality in retrieving data for special reports -- such as an Option Notice Report that has more detailed information for our needs. Too detailed to explain here. When entering "increase" dates for rents, can put in notes but not all notes appear even though they are there. Thus, enter increases separately. However, if entered in this fashion and an "increase" report is pulled these entries do not pull up.

Visual Lease For The Win!

Pros

Visual Lease helps my team keep track of all current leases and takes away the manual time and effort it takes to create ASC 842 lease accounting schedules. Additionally, it makes my life in the financial reporting capacity easier by pulling together my disclosures for me.

Cons

We are currently working through issues with connecting Visual Lease with our ERP.

A great tool for lease management at governmental entities

Our previous methodology for operational administration of leases was disorganized, and we often overlooked things like adjusting lease payments to comply with contractual terms or tracking a tenant's payment history. Visual Lease has given us all the tools we need to resolve these issues. Also, prior to acquiring Visual Lease, we had no processes to ensure compliance with the GASB 87 financial standard, and we are very pleased with the support that the Visual Lease application provides in that regard.

Pros

Visual Lease is configured to provide the full support we need with compliance to the emerging GASB 87 financial standard that applies to leases at governmental entities, and also gives us ready visibility to upcoming actions required (e.g., modifying lease payment amounts, updating insurance certificates, and acting upon scheduled contractual options). Both of these features were critical to us, and we are very pleased with the performance of the application in these areas. Pre- and post-implementation support was also terrific. We received excellent guidance in setting up our system, and have not been abandoned after going live.

Cons

At this writing, there' is no workflow to send staff messages about the upcoming events shown on the dashboard (e.g., modifying lease payment amounts, updating insurance certificates, and acting upon scheduled contractual options), so staff members that aren't using Visual Lease sometimes aren't aware of them. However, to be fair, this was not one of the requirements our implementation team defined, and when we inquired Visual Lease informed us they are already working on implementing workflow - so this is a very mild complaint.

first lease admin & accounting software for the company

positive experience with sales during request for proposal, very knowledgeable and patient implementation team led by [SENSITIVE CONTENT HIDDEN] allowing us to complete implementation on time, some hiccups with trying to have more customised info built into the accounting feed without having to incur additional costs but otherwise have appreciated being put in touch with technical expert [SENSITIVE CONTENT HIDDEN] to understand how the system does or does not accommodate for IFRS 16 specifics

Pros

ability to apply more than one accounting standard to a lease, ease of running reports and creating ad-hoc rpeorts, clear and easy to follow journal entries and lease amortisation schedules, clean user interface

Cons

very US-centric whereas we are UK company applying IFRS and would like more of the US terminology turned off and more of the IFRS 16 accounting rules evident and labelled as such in the application so that users can make direct correlation to what is in the IFRS rules

New Visual Lease User

We have enough leases to justify a software solution versus sticking with Excel. The process starting with demonstrations, through contract discussions and negotiation, to implementation to go-live, were generally smooth. The implementation was simple and was managed in such an excellent way, we were able to go-live two weeks earlier than expected. Customer success is quick to respond to questions. Although we don't always like the responses where the system does not handle a particular situation, we are pleased with the professionalism and care taken to respond.

Pros

The software is very straightforward and easy to use. This solution allows us to stay organized and provides us the platform to be in compliance with ASC 842 Leases. In addition to this we were able to provide our auditors access to read-only documents and calculations and the audit was significantly smoother because of this capability.

Cons

There are some challenges to disposals/terminations of agreements. Improvements are needed to manage the entire life cycle of a leased asset, especially when it comes to accounting and compliance with the new lease standard.

How Visual Lease simplify the way to run reports

Preparing reports become much easier than before. Nowadays it is not required to communicate with all different departments, which very often they are not based in the same country.

Pros

For the Real Estate prospective the most useful feature is the report field. It is very useful and easy to use because you can review and check all the info (General and Financial) for all the units.

Cons

Overall the system works very well and one of the best feature that Visual Lease offers is the financial reporting. At the moment Visual Lease gives you the possibility to run financial reports with simple steps and various options such as customize by month and year. The additional feature that can be add value on these reports could be if the system automatically gives the amount based on the Lease year for all units despite the fact that they have different Lease periods.

Exceptional Product

Reporting was a huge issue with our previous system. That problem has been solved with the fantastic functionality and ease of use. We can add as many users as we want or need and anyone can generate a report from the system to meet their needs. Our lease information can now be shared throughout the company wherever it is needed.

Pros

For me, the best feature of Visual Lease is the report generation. It is so user friendly! There is no point in maintaining a database of information if you are not able to access that information by clicking a few keys! You can literally create a report with any data points from the system in minutes. It has changed the way we do our jobs.

Cons

I can't think of a single thing I would change.

Visual lease from a first time user

Pros

Ease of use for reporting purposes. Accuracy with several currencies. Easy to add people and manage the listing. Easy to add/modify leases

Cons

During the 10K reporting, there were issues which were reported to the customer support but we didnt get a timely response and issue made us wary of the deadlines.

Visual Lease

Overall experience with Visual Lease as a Portfolio Index of properties has been favorable.

Pros

Ease of use. It is fairly simple to navigate throughout Visual Lease.

Cons

Setting up Ad Hoc reports can be a little difficult. Understanding how to get the filtering to work is not as easy as some systems I have worked with. To be fair, I have not taken the time to go through any of the tutorials, but it is not as intuitive as other systems.

Comprehensive Program/Great Customer Service

I can highly recommend VisualLease with no qualifications. They listen to their customers, and frequent updates to the leasing program are largely in direct response to customer needs. The company is very reliable, and offers other leasing services in addition to administering the lease management program.

Pros

We have been using VisualLease as our exclusive leasing program for almost seven years, and it has never failed to fulfill our leasing neeeds. Having all of our office leases easily accessible from anywhere by multiple users has allowed us to respond to every leasing question in a matter of minutes. The abstract function is extremely valuable in accessing quick information on specific topics, and the financial tracking function has cut our annual budgeting process time in half. I don't know how we'd manage our leases without Visual Lease. The best feature of VisualLease is the company's customer service. There is always a person available to respond immediately to every question and to find a solution to an issue in very short order. The new web version has virtually eliminated all technical issues, and new updates are frequent and well announced.

Cons

If there are any "cons," it might be that although the program is ultimately very user-friendly, it does takes some training at the begninning in order to learn all that the program has to offer. This is not really a "con" - it's just a simple learning experience which is to be expected with any new program.

Efficient Program

Visual Lease has saved our company so much money, and has made many of our jobs much easier.

Pros

What I like most about this software is that I am able to keep all of our corporate leases organized with all critical dates and monthly financials. I also utilize the reporting system, making monthly rent payments easier and efficient.

Cons

Creating reports can be confusing at first, but once they are created reports are easy to generate when you need them.

Lease Management

This tool helps to have a better control and management of the leases

Pros

This tool is an option for the lease management

Cons

The customization and creation of the AP Feed

Overall

Great customer service and training thru videos.

Pros

Very intuitive. I like the idea you can create new Lease ID's as a test to "play around" with the software and test out the calculations before they go live.

Cons

User manual very confusing to read. Sometimes input key (especially for dates) doesn't work and have to retype many times to get date in.

Visual Lease is an effective solution

Recording, tracking and reporting of approximately 450 leases. Has been an effective and robust solution for us.

Pros

Allows us to track and report on all our leases, tie in with Accounting for rent payments and FASB compliance.

Cons

Would like a more robust method to track CAM/OpEx expenses, but that's a minor issue.

Visual Lease

Pros

Ease of use, organization of leases, automated monthly entries

Cons

Required updates for complex situations as they were not available in the out-of-box system --- that said, updates were released for all users of the platform