When shopping for lease accounting software, it’s important to know pricing models vary, making an already complex decision even more complicated. To find the most economical way to manage your organization’s lease data and achieve full compliance with ASC 842 and IFRS 16 standards, it’s important to understand pricing models and how your organization will get the most for its software investment. Here is insight on how CoStar structure pricing for real estate lease, equipment lease and other asset lease data services.
CoStar structures pricing for equipment lease data management per amortized asset or group of assets, including:
Individually amortized assets
Coterminous Master Leases or Sub Agreements with multiple assets may be amortized as one schedule
Benefits of CoStar pricing model include:
Unlimited users: access to all needed stakeholders and departments
Integrations: fees to host, manage and support
Infrastructure Add Ons: options for single sign-on, enhanced security (encryption) etc.
Real estate leases
Pricing for real estate leases is economically priced per location which allows for as many leases or subleases under that location. The annual subscription price includes:
Application access, system hosting, user and integrations support, security (SOC) audits and future updates/upgrades
Production and non-production system environments
Ongoing customer support
A consideration beyond software features and functionality is the extent of ongoing customer support available at no additional charge. This is relevant to all organizations, as new hires can get support to help facilitate getting acquainted with the software and seasoned employees can get answers to more complex inquiries.
CoStar’s pricing model offers all of the following resources at no additional charge:
Customer portal provides 24-hour access to training, help center and support tickets
Knowledgeable support personnel available from 8:00 a.m. to 8:00 p.m. EST
International + Multinational Support
Regular user training events
The result: more than 99 percent of CoStar customers renew their contracts annually.