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No, you cannot terminate your lease through LeasO.
Read MoreYes. Just let us know your requirements and we’ll do it for you.
Read MoreYes. Just let us know your requirements and we’ll do it for you.
Read MoreYes, your financial information is fully protected with LeasO.
Read MoreYes, LeasO gives you a Customer first experience. We assign a dedicated Point of contact for all your queries!
Read MoreYes, you can provide feedback or make suggestions for improvements to the software.
Read MoreYes, the software is fully secure and you don't have to worry about your privacy.
Read MoreYou can access the software through the web app.
Read MoreNo, you cannot set up automatic rent payments in LeasO.
Read MoreYou can contact your landlord through LeasO's system-generated emails.
Read MoreYes, you can view your payment history and track rent increase in LeasO.
Read MoreYou can contact your SPOC of the team to report any change in address or other personal details.
Read MoreNo, you cannot renew your lease through LeasO.
Read MoreYes, you can view your lease agreement and other important documents online through the web app.
Read MoreYes, the software has auditing and reporting capabilities for lease and finance agreements.
Read MoreLeasO comes with an in-built lease calculation that works depending on the country and currency you've chosen.
Read MoreYes, LeasO can handle lease renewals and rent increase management.
Read MoreNo, LeasO doesn't have a mobile app.
Read MoreYes, LeasO supports multi-currency and multi-language.
Read MoreSome of the key features of LeasO are: (1) Automated Rent Calculation (2) Bulk Approval (3) Robust 3rd party integration.
Read MoreLease management software helps organizations manage their real estate leases, including the tracking of rent payments, lease renewals, and other important lease-related information. The software provides an efficient and centralized method for organizing and tracking lease information, making it easier for organizations to make informed decisions about their real estate holdings.
Read MoreYes, LeasO supports lease classification.
Read MoreLeasO can handle all types of standard commercial leases.
Read MoreLeasO Lease Administration is an end-to-end lease management solution with automated rental calculations, robust integration capabilities, and customizable workflows.
Read MoreYes, LeasO works as a standalone Property and Lease management system without connecting to an ERP.
Read MoreYes, you can import lease data into LeasO using template excel files (.xlsx files).
Read MoreYes, you can view and pay your rent directly from LeasO. We'll take care of the integration of your bank's payment API.
Read MoreYes, you can manage and track lease incentives, concessions, and rent-free periods with LeasO lease administration.
Read MoreLeaso handles tax calculations based on your country selected and method with the help of an in-built taxation system.
Read MoreYes, you can set up a workflow that suits your organizational needs.
Read MoreYes, you can track and manage rent payments and arrears for invoices.
Read MoreLeasO doesn't support automatic rent invoice generation. It has to be done by the lessor. Once uploaded, the system will take care of the distribution based on the set workflow.
Read MoreYes, you can generate reports and analytics with LeasO lease administration software.
Read MoreYes, you can. You'll get a sample upload file and you'll have to format your upload file in the same format.
Read MoreMiddle-of-term changes will be recorded as addendums to pre-existing leases. An addendum is an attachment used to clarify and add things that were not initially part of the original contract or agreement. The addendum has to go through the same approval process as in the case of a fresh lease.
Read MoreLeasO Lease Administration is for lessee accounting.
Read MoreYes, you can create as well as set roles as per your organization's structure and requirements.
Read MoreYes, there is an administration console to manage users as well as their roles & responsibilities.
Read MoreThis refers to the expenses incurred by lessees related to their lease arrangements. Under both IFRS 16 and ASC 842, lease expenses include depreciation of the ROU asset, interest on the lease liability, and any other lease-related expenses, such as variable lease payments or contingent rentals.
Read MoreThis refers to the revenue earned by lessors from leasing out assets to lessees. Under both IFRS 16 and ASC 842, lessors are required to recognize lease revenue over the lease term, either on a straight-line basis or based on the pattern of the lessee's use of the leased asset.
Read MoreThis refers to the interest expense incurred by the lessee on the lease liability. Under both IFRS 16 and ASC 842, lessees are required to recognize interest expense on the lease liability separately from the depreciation of the ROU asset.
Read MoreThis refers to the assessment of whether the leased asset or the ROU asset has become impaired, which means that its value has decreased significantly. Under both IFRS 16 and ASC 842, lessees are required to test for impairment of the ROU asset and the underlying asset, if applicable, when there is an indication of impairment.
Read MoreThis section of the ASC 842 standard provides guidance on the accounting treatment of leases with bargain purchase options, which allow the lessee to purchase the leased asset at a price significantly below its fair value.
Read MoreThis section of the ASC 842 standard provides guidance on the lessor accounting for different types of leases, including sales-type leases, direct financing leases, and operating leases.
Read MoreThis section of the ASC 842 standard provides guidance on the transition to the new lease accounting standard and the effective date of the standard.
Read MoreThis refers to a transaction in which an entity sells an asset to a third party and then leases it back from the buyer. Under ASC 842, sale and leaseback transactions are subject to specific accounting rules.
Read MoreThese are lease payments that are dependent on future events, such as sales or usage levels. Under both IFRS 16 and ASC 842, lessees are required to estimate and include the expected amount of contingent rentals in the calculation of the lease liability.
Read MoreThese are the costs incurred by a lessee to obtain a lease, such as legal fees or broker fees. Under both IFRS 16 and ASC 842, initial direct costs are capitalized and amortized over the lease term.
Read MoreThese are assets with a low cost, such as office equipment or small tools, that are exempt from the recognition requirements of the new lease accounting standards. Under IFRS 16, low-value assets are defined as those with a cost of up to $5,000, while under ASC 842, they are defined as those with a cost of up to $5,000 or less.
Read MoreThis refers to the adjustment of the lease liability and ROU asset when there is a change in the lease term, lease payments, or discount rate. Under both IFRS 16 and ASC 842, lessees are required to remeasure their lease liabilities and ROU assets when there is a significant change in the lease terms.
Read MoreThere are two main types of Commercial Leases: (1) operating leases and (2) Finance leases. Under IFRS 16 and ASC 842, operating leases are treated the same as finance leases, and lessees are required to recognize ROU assets and lease liabilities on their balance sheets for both types of leases.
Read MoreThis refers to the periodic allocation of the cost of the right-of-use (ROU) asset over its useful life. Under both IFRS 16 and ASC 842, lessees are required to recognize ROU assets and lease liabilities for most leases. Depreciation of ROU assets is one of the key expenses that lessees need to account for under the new lease accounting standards.
Read MoreLease payments that are not fixed, such as payments that vary based on changes in an index or rate, or payments that are based on the lessee's sales or usage of the underlying asset.
Read MoreThe percentage of available space in a market that is not leased or occupied.
Read MoreThe area of a space that is available for the exclusive use of the tenant, including offices, conference rooms, and restrooms.
Read MoreA lease in which the tenant pays for all operating expenses, including utilities, maintenance, property taxes, and insurance, in addition to rent.
Read MoreA monetary allowance provided by the landlord to the tenant to cover the cost of building out or customizing a space to meet their specific needs.
Read MoreThe lessor's ability to substitute the underlying asset during the lease term and the conditions that must be met for the substitution rights to be considered substantive.
Read MoreA lease in which the lessee transfers some or all of its rights and obligations to use the leased asset to a third party.
Read MoreRecognition Exemption: An exemption that allows lessees to recognize short-term lease payments as an expense on a straight-line basis over the lease term without recognizing a right-of-use asset or lease liability.
Read MoreLeases with a lease term of 12 months or less.
Read MoreAn asset that represents a lessee's right to use an identified asset for the lease term.
Read MoreThe lessee's right to obtain substantially all of the economic benefits from the use of the identified asset throughout the lease term.
Read MoreThe lessor's ability to direct the use of the identified asset throughout the lease term.
Read MoreThe lessee's ability to direct the use of the identified asset throughout the lease term.
Read MoreA guarantee by the lessee or a third party that the underlying asset will have a certain value at the end of the lease term.
Read MoreAn event or condition that has a low probability of occurring
Read MoreThe reassessment of the lease term and purchase options when there is a significant change in circumstances or events that affect the lease arrangement.
Read MoreA level of confidence or probability that an event will occur or a condition exists, which is greater than 50%.
Read MoreThe implicit interest rate used in lease accounting to determine the present value of lease payments.
Read MoreAn option granted to a lessee to purchase the underlying asset at the end of the lease term.
Read MoreA practical expedient that allows lessees to elect to combine certain lease arrangements into a single lease for accounting purposes.
Read MoreA component of a lease arrangement that is not an identified asset and does not give rise to a lease liability.
Read MoreA period of time during which a lessee has the right to terminate a lease arrangement without penalty.
Read MoreAn element of a lease arrangement that is not an identified asset or group of assets.
Read MoreA lease in which the tenant pays for some or all operating expenses, such as utilities, maintenance, and property taxes, in addition to rent.
Read MoreBuyers and sellers in a market for the same or similar assets or liabilities.
Read MoreA lease arrangement in which the lessor borrows funds to finance the acquisition of the leased asset.
Read MoreA reassessment by a lessor of the lease term of a lease arrangement, which may result in a remeasurement of the lease liability.
Read MoreThe party that grants the right to use an identified asset to a lessee under a lease arrangement.
Read MoreThe party that obtains the right to use an identified asset under a lease arrangement.
Read MoreA business entity that is recognized as a separate legal entity under applicable laws and regulations.
Read MoreThe early termination of a lease arrangement by either the lessor or lessee.
Read MoreThe period of time for which a lessee has the right to use an identified asset under a lease arrangement.
Read MoreThe amount that a lessor is entitled to receive from a lessee under a lease arrangement.
Read MoreThe consideration that a lessee is required to pay to a lessor under a lease arrangement, including fixed payments, variable payments, and lease incentives.
Read MoreA change in the terms or conditions of a lease arrangement that was not part of the original agreement.
Read MoreThe present value of lease payments that a lessee is obligated to make under a lease arrangement.
Read MorePayments or other benefits provided by a lessor to a lessee as an inducement to enter into or extend a lease arrangement.
Read MoreFactors that indicate that the carrying value of a lease asset or liability may not be recoverable, such as a significant change in circumstances or the occurrence of a significant event.
Read MoreAn identified asset or group of assets in a lease arrangement that is accounted for separately from other components of the lease.
Read MoreThe date on which a lessee begins to use an identified asset under a lease arrangement.
Read MoreA practical expedient that allows lessees to elect not to apply the lease accounting requirements to certain land easements that are not physically distinct or have insignificant value.
Read MoreA legal agreement between a landlord and tenant that governs the terms and conditions
Read MoreThe owner of a property who leases the property to a tenant.
Read MoreA document indicating that a tenant has obtained insurance coverage as required by a lease or other agreement.
Read MoreTo protect or compensate a party for any loss or damage incurred as a result of a particular action or event.
Read MoreThe total square footage of a building or space, including common areas and other non-rentable space.
Read MoreA lease in which the tenant pays a fixed amount of rent that includes all operating expenses, such as taxes and maintenance.
Read MoreA lease in which the landlord is responsible for all operating expenses of a property, including taxes, insurance, and maintenance.
Read MoreMoveable property such as office furniture, kitchen appliances, and other items that are not part of the building structure.
Read MoreA document signed by a tenant certifying the terms and conditions of a lease.
Read MoreA provision in a lease or other agreement that allows for an increase in rent or other charges based on certain factors, such as inflation or operating expenses.
Read MoreThe right to use or access a portion of a property owned by another party, such as a right-of-way for utilities.
Read MoreThe process of investigating a property or other investment before entering into a transaction.
Read MoreA lease in which the tenant is responsible for paying rent and property taxes.
Read MoreMoney paid by a tenant as security for performance of obligations under a lease or other agreement.
Read MoreFailure to fulfil a legal obligation, such as paying rent or performing under a contract.
Read MoreA condition or event that must occur before a contract or agreement becomes binding.
Read MoreThe parts of a commercial property that are shared by multiple tenants, such as lobbies, hallways, and parking lots.
Read MoreReal estate used for business purposes, such as office buildings, shopping centers, and industrial facilities.
Read MoreThe percentage of common areas, such as lobbies, hallways, and restrooms, that are deducted from a tenant's usable square footage to calculate their rentable square footage.
Read MoreTwo or more spaces that are adjacent and can be combined into one larger space.
Read MoreProperty used for business purposes, such as offices, retail stores, and industrial buildings.
Read MoreA classification system used to rank buildings based on their age, location, amenities, and quality of construction. Class A buildings are typically the newest and highest quality, while Class C buildings are older and less desirable.
Read MoreA document issued by a government agency indicating that a building or space is suitable for occupancy.
Read MoreThe rate of return used to determine the value of income-producing property. It is calculated by dividing the property's net operating income by its value or purchase price.
Read MoreThe portion of operating expenses for a commercial property that is paid by tenants, typically for maintenance and repair of common areas.
Read MoreA payment made by a tenant to terminate a lease or to take control of a space before the end of the lease term.
Read MoreThe construction or renovation of interior space to meet the specific needs of a tenant.
Read MoreA classification system for commercial buildings based on factors such as age, location, and amenities.
Read MoreThe minimum rent payable by a tenant before any additional rent, such as taxes, operating expenses, or percentage rent.
Read MoreThe transfer of a lease or other agreement from one party to another.
Read MoreThe total amount of rent payable by a tenant over a year.
Read MoreThe largest and usually the most prominent tenant in a shopping center, office building, or other commercial property.
Read MoreA document that modifies or changes a legal agreement
Read MoreA security that represents ownership in a non-U.S. company and trades on a U.S. exchange.
Read MoreThe rate at which rentable space is leased or occupied within a market.
Read MoreAs per requirements of section 17 of the Registration Act, 1908, a lease agreement for a term not exceeding one year is not compulsorily registrable. This means that rent agreements for less than 12 months duration can be made without registration.
Read MoreThe purpose of lease accounting is to provide a transparent and accurate representation of a company's lease obligations and assets in its financial statements, which can help investors and other stakeholders make better-informed decisions about the company.
Read MoreAn operating lease is a type of lease in which the lessee (the user) rents an asset, typically equipment or a vehicle, for a specified period of time. The lessor (the owner) retains ownership of the asset and is responsible for maintenance and repairs.
Read MoreA capital lease (finance lease) is a type of lease in which the lessee (the party leasing the asset) effectively purchases the asset and has the right to use it over a specified period of time, while the lessor (the party owning the asset) retains legal ownership.
Read MoreThe International Accounting Standards Board (IASB) is an independent, private-sector body that develops and issues International Financial Reporting Standards (IFRSs).
Read MoreThe Financial Accounting Standards Board (FASB) is an independent, private-sector organization based in the United States that sets accounting standards for public and private companies and nonprofit organizations.
Read MoreA rent-free period, also known as a "rent holiday," is a period of time during the lease term during which the tenant is not required to pay rent.
Read MoreHere’s what you can do: (1) Document the issue (2) Communicate with the landlord (3) Consider withholding rent (4) Seek legal advice
Read MoreHere’s what you can do: (1)Review the lease agreement (2)Send a demand letter asking to return the deposit (3)File a complaint (4)Seek legal advice
Read MoreHere are a few steps you can take: (1) Document the issue (2) Contact your landlord (3) Send a formal complaint (4) Consider withholding rent (5) Consult a lawyer on the issue
Read More