Owned, Leased and Subleased Property Management with a Full-Featured Lease Administration System that Complies with all FASB and SOX Requirements
Virtual Premise is a full-function, integrated real estate management system that tracks owned and leased properties of any type. In the Portfolio Management Module, the building (or location) record serves as the top level record to which users can attach as many premises, leases (or contracts) as needed to accurately reflect your property. The comprehensive lease administration module contains advanced lease financial management functionality with Express Charge Entry. Virtual Premise can be integrated with other critical business system, such as ERP, Accounting, Finance, Facility Management System, or even with a retail Point of Sale System. When combined with Virtual Premise's integrated Project Management Module to manage your Projects and Transactions, you can achieve visibility into all of your critial real estate information. Key portfolio management and lease administration features are:
- Accounts Payable (AP) Management and Processing
- Accounts Receivable (AR) Management and Processing
- Expense Allocation Management (Can be integrated with Spacing Planning System)
- Advanced Financial Functionality with Express Charge Entry
- Critical Date Management
- Automated and User-Defined Reminders and Notifications (Email, Dashboard, and Reports)
- Operating Expense Reconciliation and Desktop Audit (Advanced Desktop Audit Manager)
- Integrated Workflow Management and Status Tracking
- Flexible Hierarchy (Organize and report the way you do business)
- Field-Level Change Tracking Throughout. (System retains history of changes for every field)
- Integrated Contact Management
- Integrated Document Management
- Embedded Email Capabilities
- Copy Lease Function (Duplicate existing leases to speed up abstracting)
- Integrated Clause Bank
- Multiple Abstract Forms Supported
- Owned Property and Asset Tracking
- Multiple Searching Abilities – Key Word Search, Advanced Search and Search within a Lease
- Multi-National Currency Conversion (All currencies supported - Nightly or fixed treasury updates)
- CPI Escalation Management
- CAM Reconciliation (Catch-up and True-up payment processing)
- Automated Lease Verification
- Month-to-Month / Holdover Batch Processing