Property management is a complex task. With the enormous amount of leases in the portfolio, it is challenging to track every detail manually. Hence we require software that assists us with the lease portfolio administration.

Before deciding whether to opt for lease management software or excel for property administration, we must consider the software's tasks.

The lease Portfolio consists of many tasks we can automate to make management more effortless. They include,

● Storing information,

● Report Generation,

● Sending Notifications/Alerts,

● Data analysis,

● Documentation maintenance etc.

Then we interpret which software suits our needs the most and opt for it. There are multiple options available for property management in the market. But searching and finding the one that meets our needs can help us in the long run.

Here are five reasons why we can avoid Excel spreadsheets for storing Lease agreements.

1. Managing complexity

As the portfolio grows, the spreadsheets become complex, so managing becomes overwhelming. It becomes challenging to track every lease's details manually. Many accounting calculations are complex, and spreadsheets can't support the unique nuances that lease portfolio management requires. Hence managing the complexity of an excel spreadsheet can be challenging.

Lease Portfolio 365 is a property management software that handles rental contract-related duties. It is a cloud-based SaaS model product that simplifies the lease administration process by helping with lease accounting and lease audit trials.

2. Handling data

A portfolio generates a lot of data for each property mentioned. Handling this large-scale data in a spreadsheet requires advanced knowledge of the spreadsheet's features. Hence the property management team needs to be well-versed in excel formulas and conditional formatting to utilize the advanced features and simplify the management process.

On the other hand, property management software is user-friendly, and users are not required to learn complex formulas for managing processes. One of the substantial advantages of property management software is that a team of developers takes care of the technical part and offers assistance in almost every administration process.

Lease Portfolio 365's team offers prompt assistance to its customers. Our dedicated team simplifies data abstraction, lease translation, and document and contract management in lease administration.

3. Automating tasks

We wouldn't be able to use spreadsheets for data processing and automated report generation processes. But property management software enables automation for many tasks like sending alerts/notifications on rent payments and other deadlines.

When we manually process in a spreadsheet, we might get errors. But when the process is automated, chances are less. In addition, it consumes less time, allowing the managers to focus on significant work rather than repetitive and tedious tasks. Consequently, productivity increases as the computer handle multiple tasks simultaneously.

Lease Portfolio 365 automates,

● Reminders on lease deadlines

● Report generation

● Invoice and Provision booking

● Organised access control

● Key Business insights and much more..

LP365 is a customizable software. Our team sets up and modifies LP365 according to your portfolio's needs.

4. Accessing Data

Multiple access is available in spreadsheets. Different sheets in a single spreadsheet can confuse the portfolio handlers. So when one person alters something unknowingly, it may cause countless issues. Also, when spreadsheet management becomes more complicated with the increase in lease agreements, it becomes tedious to handle the management process.

On the contrary, lease management software stores every data in a systematic order so that the lessee can access the required information through search options. In addition, User Experience design elements in the software enable faster engagement. Consequently, lease administrators are less likely to make mistakes while entering the data.

5. Security

Multiple access to a spreadsheet can make it prone to manipulation. Anyone can counterfeit confidential content, and therefore it compromises data protection. A large amount of money is at stake surrounding the lease portfolio. On that account, data protection is one of the foremost significant tasks.

Property management software allows only authorized access and is also password protected. It uses SSL encryption scrambles and an authorization verification process to ensure security. It stores data in a private repository and backs up data for future reference.

Lease Portfolio 365

Lease portfolio 365 is a customer-friendly software with an easy-to-operate user interface. We can customize the software's dashboard based on our requirements and priority. LP365 is integrable with existing API and ERP in any workspace. Furthermore, it offers a free demo for users to learn more about the software beforehand.

You can discover more about Lease Portfolio 365 by visiting LP365.

Or you can contact us at,

Email: info@leaseportfolio365.com

Phone number: +91 7200146160