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What is lease management software?

Aimed at various types of professionals, lease administration software stores important data about leased property or equipment and often the associated financial and legal information. In most systems, much of the core accounting calculations, such as straight-line rent, can be performed automatically. The variety of available applications within lease management software makes it flexible and adaptable to any kind of lease activity.

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What 5 key Lease Management Software features should I look for?

Document storage and management

Document storage helps keep your leases secure, and users can add new documents or perform a search to pull up any specific details from a laptop or mobile device.

Lease clauses

Instead of simply storing leases as text, many systems can move clauses into groups so users can find specific language or generate reports.

Notifications and Alerts

Each lease includes several important dates, such as those for rent increases, consumer price index changes, tenant improvement allowances and more. Alerts can often be scheduled automatically and delivered via email or other methods.

Accounting

Lease accounting requires a significant deal of compliance practices, which is why software typically helps remain compliant with FASB and IASB lease standards. In addition, systems often includes core features like payment tracking and invoicing.

Marketing

Some systems offer marketing tools to help landlords find tenants using online leasing. Prospective tenants can complete online leases with e-signature technology to save time.

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Showing 1 - 20 of 80 products
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Showing 1 - 20 of 80 products

Yardi Breeze

Yardi Breeze is refreshingly simple property management software designed with one goal in mind: to provide our users with a single platform that’s easy to use and takes advantage of the latest advances in cloud-based technology. ...Read more

3.85 (54 reviews)

114 recommendations

DoorLoop

DoorLoop is 50% off your first two months! Get a fully customizable rental property management software that helps manage your properties from one place. Unlimited free training, support, and migration is included. Try it risk-f...Read more

5.00 (36 reviews)

111 recommendations

Buildium

Buildium is a cloud-based property management software that enables managers of residential and association properties to take control of every aspect of their business, whether in the office or fully remote, including online rent...Read more

4.49 (1735 reviews)

89 recommendations

SimplifyEm

SimplifyEm is a user-friendly property management solution that offers everything needed to manage a property's accounting, tenant and lease tracking and building maintenance. It's web-based and ready to go right out of the box. ...Read more

4.11 (117 reviews)

73 recommendations

RentRedi

RentRedi is landlord-tenant software for landlords to easily manage their properties. RentRedi provides an all-in-one platform that enables landlords to collect mobile rent payments, send in-app notifications, prescreen tenan...Read more

4.68 (19 reviews)

50 recommendations

PriceDemo

AppFolio Property Manager

Run your entire portfolio on one modern platform. AppFolio’s intuitive and user-friendly experience gives your property management team the tools they need to provide excellent service to residents and owners. Whether you manage m...Read more

4.56 (1708 reviews)

40 recommendations

PriceDemo

Rentec Direct

Rentec Direct serves as a web-based, full-featured management system for landlords and property managers that is designed to suit the needs of those managing properties between 25 and 5,000 units. Rentec has no startup fees, no te...Read more

4.63 (178 reviews)

27 recommendations

PriceDemo

SKYLINE

SKYLINE from SS&C Technologies is a web-based property management and accounting solution suitable for small to midsize real-estate firms. Designed to handle an array or key operations, SKYLINE is capable of offering integrated to...Read more

3.61 (49 reviews)

20 recommendations

PriceDemo

Rent Manager

Rent Manager is a software system for both residential and commercial real estate entities with portfolios of any size. The accounting component of Rent Manager has full integration and includes everything from standard to advance...Read more

4.37 (207 reviews)

14 recommendations

PriceDemo

Hemlane

Hemlane is a cloud-based property management solution that caters to small businesses. The key features of the solution include property marketing, applicant screening, lease tracking, rent collection and maintenance coordination....Read more

4.84 (119 reviews)

10 recommendations

Software pricing tips

Read our Lease Management Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

ResMan

ResMan is the industry-leading property management platform preferred by owners, operators and investors across the multifamily, affordable and commercial real estate marketplace. Our platform is built for the evolving needs of yo...Read more

4.50 (359 reviews)

6 recommendations

Re-Leased

Re-Leased is a cloud-based commercial property management solution. Key features include accounting, portfolio management, tenant communication, inspections, document storage and compliance management. The solution integrates with...Read more

4.51 (80 reviews)

6 recommendations

Total Management

Total Management is a cloud-based property management solution suitable for midsize to large organizations that manage apartments, mixed portfolio, REITs and commercial or retail space. Total Management helps users multitask ...Read more

4.23 (89 reviews)

3 recommendations

Innago

Innago offers a cloud-based property management platform for landlords with small to midsize property portfolios. With Innago, users can collect rent, manage leases, collect signatures and manage tenants. Landlords can collec...Read more

4.88 (156 reviews)

1 recommendations

PriceDemo

Building Stack

Building Stack is a cloud-based property management solution designed for Canadian businesses of all sizes. Key features include lease management, employee management, building maintenance, automated listing postings, tenant commu...Read more

4.47 (17 reviews)

1 recommendations

PriceDemo

TenantCloud

TenantCloud is a cloud-based property management system designed to meet the needs of landlords, property managers and real estate professionals. The system offers property management, tenant management, accounting management and ...Read more

Avail

Avail is a cloud-based property management that allows independent landlords to find tenants, view their credit history and collect rent. Key features include affiliate syndication, social sharing tools, lead management, automated...Read more

PriceDemo

Yardi Voyager

Yardi Voyager is a property management and accounting platform for commercial and residential entities. Suited for small portfolio real estate owners as well as large enterprises, this system can only be deployed in the cloud....Read more

PriceDemo

Guesty

Guesty is an end-to-end solution for short-term property managers looking to save time, increase revenue and grow their businesses. The software allows users to manage listings across multiple channels, such as Airbnb, Booking.com...Read more

VTS

VTS is a CRE leasing and asset management platform. VTS specializes in centralizing critical data and workflows in one place, VTS empowers landlords, property managers, and brokers to better attract, convert and retain their most ...Read more

4.64 (86 reviews)

PriceDemo

Popular Lease Management Software Comparisons

Buyers Guide

Last Updated: January 18, 2022

Imagine tracking your real estate and lease details manually. Could you keep all the important dates, rent payments, and tenant information straight? Could you truly manage your entire portfolio without help?

Lease management software, or lease administration software, helps track all of these details in a centralized location, and it goes further to offer notifications and visualization into the efficiency and profitability of your lease activities.

So not only is it a repository of searchable data; lease management software also gives you a valuable overview of the health of your portfolio.

This guide can help you determine the features and aspects to keep in mind while considering software.

We’ll cover:

What Is Lease Management Software?

Aimed at various types of professionals, lease management software stores important data about leased property or equipment and often the associated financial and legal information.

In general, the key benefits of using lease management software is:

  • Saving time by retrieving lease dates, clauses or other information quickly. If a mobile app is included, this data is accessible at nearly any moment.
  • Saving effort by having dashboard-style information about your portfolio in a centralized system.

Dashboard in Buildium lease management software

Listing of leases with status and date notifications in Buildium

In most systems, much of the core accounting calculations, such as straight-line rent, can be performed automatically. The variety of available applications within lease management software makes it flexible and adaptable to any kind of lease activity.

Common Features of Lease Management Software

These systems can include several types of functionality, but in general, the following features are common:

Document storage and management

Document storage helps keep your leases secure, and users can add new documents or perform a search to pull up any specific details from a laptop or mobile device.

Lease clauses

Instead of simply storing leases as text, many systems can move clauses into groups so users can find specific language or generate reports.

Notifications and Alerts

Each lease includes several important dates, such as those for rent increases, consumer price index changes, tenant improvement allowances and more. Alerts can often be scheduled automatically and delivered via email or other methods.

Accounting

Lease accounting requires a significant deal of compliance practices, which is why software typically helps remain compliant with FASB and IASB lease standards. In addition, systems often includes core features like payment tracking and invoicing.

Marketing

Some systems offer marketing tools to help landlords find tenants using online leasing. Prospective tenants can complete online leases with e-signature technology to save time.

Mapping

For those with multiple properties across a large geographic area, lease management software can visualize your portfolio on a map, often with color-coded tags to identify the status or type of each property.

Reporting

A lease management system contains a wealth of data, and users can generate different types of reports to reveal any trends in your portfolio—whether it’s financial or pertains to inventory of space.

Lease management software can also integrate with other key parts of your operational software, such as:

These integrations help to centralize all lease data with building systems and costs to make more informed, holistic business decisions.

What Type of Buyer Are You?

Depending on the type of real estate or assets you are leasing, software will offer specific benefits:

Residential Property Managers. These professionals need a property management system that automates common daily tasks for multi- or single-family properties, and a valuable part of that platform is lease management. You may find stand-alone lease management software can meet your needs by handling the maintenance of lease documents and allowing renters to review and sign leases remotely.

This lets tenants move-in quicker, and frees managers or owners to focus on other aspects of their portfolio.

Corporate Real Estate Executives. CRE professionals must keep a close eye on their company’s entire real estate portfolio to stay on top of important dates or opportunities.

A lease management system can offer a bird’s-eye view of all lease activities to help identify strategic cost-saving opportunities or make decisions that increase profitability.

Equipment Leasing. Companies often execute leases for assets other than real estate, such as equipment—whether it’s machinery, tools, vehicles or other types.

Tracking these leases can be more complex, and lease management software offers information about the equipment’s location, status and important dates.

Market Trends You Should Understand

The Financial Accounting Standards Board and the International Accounting Standards Board have issued updates since 2010, likely causing a boost in the adoption of lease management software to help companies remain compliant.

Here is some extra details about the most recent changes you should know about:

2016 Changes to the FASB and IASB require that companies must now report all assets or liabilities stemming from lease transactions on balance sheets, including any real estate or equipment leasing.

These new regulations go into effect starting January 2019 for private companies and December 2018 for public companies. 

Compliance to these new changes will require greater effort in accounting, and many real estate professionals are preparing for these changes by adopting new software built with these specifications in mind.

How Is It Priced?

Lease management systems can be offered stand-alone or, typically, within a property management suite. Therefore, the pricing can vary depending on how robust you need the solution to be. 

For most systems, monthly or annual subscription fees based on the number of users or leases. 

Like most other software markets, deployments can be:

  • On-premise, where the system is implemented at the site of the company's facilities.
  • Cloud-based, where the system is located at the vendor’s site, but accessible by the company via the web.

Cloud-based options are often aimed at smaller companies since they require a smaller upfront investment. In addition, upgrades and maintenance are handled on the vendor’s side, so organizations without a dedicated IT department can generally avoid the technical issue that can occur by hosting the software on-site.

On-premise systems, however, often include a larger upfront cost from a perpetual license, and potentially, upgrade charges, maintenance fees, customizations, and implementation services. Some companies prefer these deployments because they can hold onto their data on-site.