CoStar Real Estate Manager
UnclaimedAchieve total lease lifecycle confidence with seamless accounting, administration, and market data.
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TL;DR - CoStar Real Estate Manager
- Manages the entire lease lifecycle for accounting and real estate teams.
- Ensures audit-ready compliance for ASC 842 and IFRS 16 with enterprise-level automation.
- Integrates market data and analytics for portfolio optimization and strategic decision-making.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Industry-leading peace of mind for lease accountants regarding audits and compliance.
- Provides real estate professionals with accurate data for portfolio optimization.
- Offers dedicated migration tools to simplify switching from other platforms.
- Backed by resident CPAs and commercial real estate experts for complex challenges.
- Leverages the world's largest lease dataset for enhanced innovation and analytics.
Cons
- Pricing is custom and requires a quote, which may not be transparent upfront.
- The platform's extensive features might have a learning curve for new users, despite claims of ease of use.
Key Features
Audit-ready lease accounting (ASC 842 & IFRS 16)Automated rent payments and lease renewalsCritical date managementIntegrated CoStar Market Data + AnalyticsSpecialized migration tools for competing platformsEnterprise-class controls and automationDay 2 accounting for roll forward and reconciliation reportsEquipment lease functionality
Pricing
Paid
CoStar Real Estate Manager offers paid plans. Visit their website for current pricing details.
About CoStar Real Estate Manager
By Toolradar Team·
CoStar Real Estate Manager is a comprehensive platform designed for managing the entire lease lifecycle, catering to both lease accounting and real estate teams. It provides a shared view of lease data, ensuring audit-ready compliance for ASC 842 and IFRS 16, and streamlining lease administration tasks. The platform automates workflows, including rent payments and lease renewals, and offers critical date management to prevent missed deadlines.
This solution is ideal for enterprises with complex real estate portfolios that require robust controls, accurate reporting, and integration of market data for strategic decision-making. It aims to reduce manual workarounds and expensive upgrades often associated with less integrated systems. With the acquisition of Visual Lease, CoStar Real Estate Manager leverages the world's largest lease dataset to offer unparalleled innovation and analytics, helping organizations optimize their real estate expenses and make confident lease management decisions.
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CoStar Real Estate Manager FAQ
How does CoStar Real Estate Manager ensure compliance with both ASC 842 and IFRS 16 lease accounting standards?
CoStar Real Estate Manager was first to market with ASC 842 and IFRS 16 disclosures, having successfully completed pre-release testing with an international Fortune 50 partner. It provides enterprise-level controls and automation specifically designed to meet these standards, including features for retrospective, impairment, and lessor remeasurement functionality.
What specific benefits does the integration of CoStar Market Data + Analytics bring to lease administration and portfolio optimization?
The integration of CoStar Market Data + Analytics provides real estate professionals with the most accurate and comprehensive data available. This enables better reporting, identification of portfolio cost savings, and more informed decisions for critical date management and overall portfolio optimization, leveraging the world's largest lease dataset.
Given the acquisition of Visual Lease, how does CoStar Real Estate Manager combine the strengths of both platforms for its users?
With the acquisition of Visual Lease, CoStar Real Estate Manager now combines the top two lease accounting and administration platforms. This merger brings Visual Lease’s mid-market innovation and advancements in GASB and sustainability to the CoStar platform, offering customers unmatched innovation and analytics for smarter portfolio decisions and serving more leases than any other platform.
How does CoStar Real Estate Manager facilitate the migration process for companies switching from other lease management platforms?
CoStar Real Estate Manager offers specialized migration tools designed for competing platforms. This ensures an easy transition, as they have successfully migrated several major companies, providing guaranteed implementation and support throughout the process.
Beyond initial lease accounting, what 'Day 2 accounting' capabilities does the platform offer to lease accountants?
For 'Day 2 accounting', CoStar Real Estate Manager enables lease accountants to complete roll forward and reconciliation reports efficiently. It also supports the execution of mass remeasurements, ensuring ongoing accuracy and compliance after the initial lease accounting setup.
Source: costarmanager.com