Watch: 2 Minute Lease Data Services Overview
Ensure correct calculations for financial reporting
Verify correct payments are made or received.
Avoid costly lease management mistakes
Never miss renewals, adjustments or other critical date related actions.
Comply with ASC 842 and IFRS 16 guidance
Make sure all stakeholders have access to relevant lease data for lease accounting compliance.
Lease Data Services Capabilities
- Data Validation – Gap analysis and audit of missing or inaccurate data
- Lease Abstracting – Lease abstraction and summation of key financial, business and legal information including any unusual lease provisions, financial obligations or other issues
- Document Imaging – High resolution imaging and storage of legal documents for real estate and equipment leases
- Due Diligence Support – For the acquisition and disposition of assets
- Best Practices Workshops – Training for lease administration, new lease accounting compliance, data workflows and process reviews
Why Choose Lease Data Services from CoStar?
- Our highly-trained, in-house team is led by industry veterans with more than 20 years of experience
- Service team members include full-time attorneys, paralegals and lease administration professionals as well as a senior quality control analyst and project manager to lead every initiative
- Quick deployment of team resources that may work on-site at customer locations or at our corporate headquarters, but never off-shore
Success Story: Fortune 500 Healthcare Provider Cures Data Discrepancies with CoStar
CoStar’s Lease Data Services team reviewed approximately 2,700 leases and found more than 1,400 data discrepancies. In doing so, CoStar helped this Fortune 500 company realize thousands of dollars in savings by rectifying over-payments in scheduled rent obligations.
20 Years of Lease Data Services Experience
“With the new lease accounting guidance, there’s a significant increase in the amount of data and details that must be captured. Our team helps get this data populated, validated and or abstracted as needed for financial reporting under the new standards.”
— Kelly Kepley, Vice President of Lease Services