Share this
CoStar Celebrates 20 Years of Leading Lease Management Software
by Andy Thomas on January 17, 2017
CoStar Real Estate Manager is celebrating 20 years as the industry-leading provider of the latest cloud-based lease accounting software and services. The lease accounting software, lease management software and lease administration software have been battle-tested and proven to be the easy, smart solution for ASC 842 lease accounting compliance and other critical lease accounting initiatives.
“Managing real estate and lease data in one system is not new for us,” said Andy Thomas, president of CoStar Real Estate Manager. “We offer an industry-leading solution that consolidates real estate and equipment lease management seamlessly into one very user-friendly system – that’s why 99 percent of our customers renew with CoStar every year.”
CoStar’s software has been reviewed and vetted by highly respected CPAs and accounting firms and has undergone rigorous SOC 1 and SOC 2 certification, offering data-encryption at rest and other sophisticated security features.
CoStar’s lease manager software offers the extensive functionality needed to manage and report on real estate, equipment and other leases for new lease accounting compliance. It is fully compliant with both FASB and ISAB standards, including current ASC 840, 842 and IFRS standards. In fact, CoStar already has years of experience with the preceding FASB lease accounting standard (FAS 13), a core differentiator from other solutions. CoStar is also Sarbanes-Oxley compliant, completing an SSAE 18 audit annually,
Extensive functionality includes:
- Creating accounting workflows and audit trails of all data changes
- Disclosure reporting
- Balance sheet impact
- Classification tests
- Amoritization schedule
- Journal entry processing
Lease accounting compliance know-how
Transitioning to new software can be a significant undertaking, but CoStar has specialized service teams to help with implementation, best practices and ongoing data management. In fact, no one in the industry has more experience or expertise when it comes to lease abstracting, document management, data validation, due diligence support and best practices consulting.
Clients can tackle implementation and ensure data quality with confidence when they have these CoStar resources at their fingertips:
- An Implementation Team which partners with new clients and serves as a guide through the implementation process
- An ETL tool that helps clients transfer lease data into our system, exporting and importing through a tried-and-true proprietary 4-step process.
- A Lease Services Team helps client achieve optimal performance and confidence in the quality of critical lease data.
The trusted lease accounting solution CoStar Real Estate Manager is a wholly owned subsidiary of CoStar Group, a resource-rich publicly traded company. Not only does this offer stability, but CoStar Real Estate Manager is the only solution that integrates CoStar’s industry-leading real estate data into the software. CoStar has invested over $1 billion in research operations to build and maintain the industry’s most comprehensive database of commercial real estate information. A highly trained research team constantly verifies the accuracy of hundreds of details on the properties in CoStar’s database.
Share this
- ASC 842 (80)
- Lease Accounting Software (66)
- Accounting Teams (39)
- Lease Administration Software (20)
- Retail Tenants (14)
- Commercial Real Estate (12)
- Lease Management (10)
- Market Data and Analytics (7)
- Real Estate Teams (7)
- ESG (5)
- Success Stories (5)
- News and Media Coverage (4)
- Transaction Management Software (2)
- Customer Success (1)
- Office Tenants (1)
- October 2024 (4)
- September 2024 (2)
- August 2024 (5)
- July 2024 (3)
- June 2024 (3)
- May 2024 (4)
- April 2024 (1)
- February 2024 (1)
- December 2023 (4)
- November 2023 (6)
- October 2023 (4)
- September 2023 (2)
- August 2023 (2)
- July 2023 (3)
- May 2023 (2)
- March 2023 (1)
- February 2023 (3)
- December 2022 (3)
- November 2022 (4)
- October 2022 (4)
- September 2022 (1)
- August 2022 (4)
- June 2022 (1)
- May 2022 (4)
- April 2022 (8)
- March 2022 (3)
- February 2022 (1)
- October 2021 (2)
- September 2021 (1)
- August 2021 (15)
- July 2021 (3)
- June 2021 (1)
- May 2021 (1)
- April 2021 (3)
- March 2021 (1)
- January 2021 (1)
- December 2020 (3)
- November 2020 (1)
- October 2020 (2)
- September 2020 (2)
- August 2020 (3)
- July 2020 (2)
- June 2020 (3)
- May 2020 (1)
- April 2020 (1)
- March 2020 (1)
- February 2020 (1)
- December 2019 (1)
- October 2019 (1)
- September 2019 (2)
- August 2019 (3)
- July 2019 (2)
- April 2019 (69)
- October 2018 (1)
- August 2018 (1)
- July 2018 (1)
- June 2018 (1)
- May 2018 (1)
- April 2018 (2)
- March 2018 (3)
- February 2018 (2)
- December 2017 (1)
- August 2017 (3)
- June 2017 (2)
- May 2017 (2)
- April 2017 (1)
- March 2017 (2)
- January 2017 (2)
- November 2016 (2)
- July 2016 (1)
- June 2016 (1)
- July 2015 (1)
- March 2015 (1)
- June 2014 (1)
- April 2014 (11)
- October 2011 (1)
You May Also Like
These Related Stories