The core challenges of retail lease administration and how to fix them

Many commercial businesses’ capacity for innovation and growth are limited by legacy technology systems. Only 20% of retailers are equipped with a centralized system that can handle complex lease administration, seamlessly integrate new technologies, and maintain compliance with global leasing standards ASC 842, GASB 87, or IFRS 16. 

Dependency on outdated technological infrastructure is at the heart of many challenges lease administrators face and holding companies back from utilizing the full strategic potential of retail lease administration. As the market continues to become more volatile and modern customers adopt online shopping en masse, companies must seize the opportunity to proactively optimize profitability and add value through lease restructuring and management.  

Companies with modern processes and tools can facilitate better data management with enhanced cybersecurity protocols, effectively manage complex lease structures, and establish a single hub for accessing and interfacing with information in real time. A centralized system can also eliminate errors due to miscommunications and manual data entry, streamlining workflows across large teams. Ultimately, these improvements allow lessors and lessees to make informed, profitable decisions. 

Read the full blog for a more thorough breakdown of these challenges and to learn how a robust lease administration solution can address these issues.  

• Negotiating lease renewals 
• Accounting for a tenant improvement allowance 
• Accessing data efficiently and accurately 
• Establishing clear lines of communication 
• Handling co-tenancy clauses 
• Managing complex lease structures 
• Maintaining regulatory compliance 

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