CoStar’s Lease Services team provides data management solutions to help achieve optimal performance and confidence in the quality of critical data.
From reporting requirements of the new lease accounting standards to the ongoing need to avoid over-payments and evergreen fees, there’s never been a better time to take inventory of key financial and legal data. Our in-house team of attorneys, paralegals and lease administration professionals helps organizations:
- Prepare for the new FASB and IASB lease accounting compliance
- Ensure lease files are complete and organized
- Confirm that data is accurate and current
- Verify the correct payments are made or received
- Avoid missing critical dates that result in costly mistakes
- Comply with aspects of Sarbanes-Oxley
Data Management Solutions and Capabilities
- Document Imaging – High resolution imaging and storage of legal documents for real estate and equipment leases
- 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
- 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
CASE STUDY: Fortune 500 Healthcare Provider Expands Points of Care with Better Lease Management
CoStar’s Lease 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.
Why Choose Lease Services and Data Management Solutions from CoStar?
- Dedicated, in-house team that is highly trained and lead by industry veterans with 20+ years of experience
- Service team includes full-time attorneys, paralegals and lease administration professionals as well as a senior quality control analyst and project manager
- Quick deployment of team resources both onsite at a client’s location or off-site, but never off-shore
“With the new lease accounting standards, there’s a significant increase in the amount of data and details that must be captured. Our team can put resources on-site to help get this data populated, validated and we can help import or abstract the additional information they’re going to need for the new standard.”
— Kelly Kepley, Vice President of Lease Services
Critical Data and Processes Assessment
Get a Critical Data and Processes Assessment to find out where your organization could be missing opportunities to reduce costs, improve workflows and realize reporting efficiency.