Always-on Compliance with Major Standards

With lease accounting constantly evolving, staying ahead of complex standards is a must. CoStar Real Estate Manager simplifies compliance with ASC 842, IFRS 16, and FRS 102, no matter your reporting framework.

Here's how CoStar keeps you covered:

• Automated Calculations: Generate accurate amortization schedules for both lease liability and ROU assets—without the headache of manual spreadsheet gymnastics.
• Comprehensive Reporting: Quickly pull audit-ready reports, disclosures, and journal entries for real estate and equipment leases, ensuring everything lines up for FASB, GASB, IFRS, FASAB, and beyond.
• Support for Lessees and Lessors: Whether you're managing finance or operating leases, or handling both sides under governmental standards, the system adapts to your workflow.
• Expert Guidance: Count on helpful resources and support to navigate the nuances of each standard and minimize risk of error.

Bottom line: compliance is handled in the background, so you can focus on closing with confidence and making smarter business decisions.

Relying exclusively on Excel or Google Sheets for lease management can trip up even the sharpest accounting pros. It’s not just compliance deadlines that can slip through the cracks; you also run the risk of missed renewal dates and payment escalations flying under the radar.

Manual processes mean details get lost in email chains or hidden in outdated files. Without built-in alerts and automations, communication can stall between departments. A single slip-up could spell costly errors for your bottom line.

Why stick with spreadsheets when your lease data, financial contracts, and key dates can live securely in the cloud? With CoStar, all your lease information is centralized and accessible from anywhere, giving your team an advantage Excel just can't match.

Break free from the hassle of sending different versions of the same file back and forth. Cloud-based software lets you grant the right access to every department — from accounting to legal — so everyone is working off the same, up-to-date information. Set up role-based permissions and custom alerts for renewals, critical deadlines, or upcoming decisions and ensure no one misses a beat (or a payment).

And for audits? Invite auditors in with read-only permissions and let them find exactly what they need, all without interrupting your workflow. Say goodbye to more frenzied searches or last-minute reports.

Unlock Real-Time Reporting & Fewer Surprises

With everything in one place, you gain true visibility into your lease portfolio. Automated reporting and customizable dashboards mean you see the big picture — capital allocation, forecasting, budgeting — with the data to back up every decision. When an unexpected event happens, you’ll be ready to pivot with confidence.

Critical date tracking isn't wishful thinking anymore; it’s automatic. Missed escalations, lost renewal windows, or forgotten amendments become a headache of the past.

Superior Collaboration and Fewer Errors

Let’s face it: spreadsheets make it all too easy to overlook important updates or introduce manual errors. Cloud-based lease accounting software keeps everyone on the same page, literally. Whether your team’s in Atlanta, Austin, or Ashtabula, you’re aligned and you’ll catch discrepancies instantly rather than after they snowball.

So if you want always-on compliance, fewer surprises, and a single source of truth, cloud-based lease accounting software is the better, smarter choice.

When it comes to trust and transparency, a SOC 1 Type 2 report is the gold standard for lease accounting software providers. These independent audits, completed by top CPA firms, rigorously assess internal controls related to financial reporting—exactly what's at stake with lease data.

Here's why this matters for you:

• A current SOC 1 Type 2 report (from the past 12 months) signals that the provider’s processes and controls—from data security to transaction integrity—have been tested and verified to be effective.
• These reports give you the assurance that critical functions like journal entries, audit trails, and sensitive lease modifications are safeguarded, meeting or exceeding industry expectations.
• Relying on providers who can offer this certification means fewer headaches during your own audits and smoother collaborations with your IT and finance teams.

With most organizations requiring such external validation, especially for systems handling financial data, a SOC 1 Type 2 becomes not just a nice-to-have, but essential peace of mind.

Look Beyond Price: Finding True Value in Lease Accounting Software

Sure, budgets matter, but choosing lease accounting software isn’t just about picking the lowest sticker price. The real value appears over time and CoStar Real Estate Manager packs features you’ll lean on for years. Before finalizing your decision, take a holistic approach:

• Long-Term Compliance: Make sure the platform stays ahead of evolving standards like ASC 842 and IFRS 16, so you’re not scrambling to catch up later.
• Advanced Functionality: Think about tools like flexible ad-hoc reporting, storage for all your lease and non-lease agreements, and technology like AI-powered document extraction that saves hours of manual effort.
• Room to Grow: As your business changes, your software should keep up. Assess customization options, integration capabilities, and whether it can scale with more users, leases, and locations.

Prioritizing the full spectrum of benefits ensures your solution supports your team, both today and in the future.

Smarter Forecasting, Budgeting, and Capital Planning

Solid financial decision-making starts with clear, actionable data. With CoStar, you gain real-time visibility into every facet of your lease portfolio. That means detailed rent obligations, future payment schedules, and embedded costs are always at your fingertips—no more digging or guesswork.

How does this help you? Quickly pull comprehensive reports to analyze lease expenses, spot trends, and model scenarios for smarter budget planning. Easily adjust assumptions to see the direct impact on cash flow and capital allocation. Whether you're forecasting next quarter's costs or planning for expansion, CoStar gives you the confidence and clarity to make informed choices.

Integrate these insights directly into your budgeting process and support capital allocation decisions grounded in accurate, up-to-date lease data.