Visual Lease Reviews

Visual Lease is exactly what we were looking for. We had an existing lease administration system, but were still doing the accounting manually. The lease administration functions are much easier to use and there is a seamless flow into the lease accounting functions. Our implementation manager was amazing. She was able to walk us through the setup process and answered all of our questions. I am confident that I can find the right data quickly in Visual Lease where I just stopped going into the old database because it was much too cumbersome to extract the data in the format I needed it. I also have the confidence that our accounting team is getting the correct data now that we are no longer manually sending reports.

They have some side features like project management that are limited in nature. Although not a primary purpose of the software, some additional improvements in these areas would make it that much better of a product. Also, the mapping had some inaccuracies that we were able to manually overcome, but should continue to be improved.

For the Real Estate prospective the most useful feature is the report field. It is very useful and easy to use because you can review and check all the info (General and Financial) for all the units.

Overall the system works very well and one of the best feature that Visual Lease offers is the financial reporting. At the moment Visual Lease gives you the possibility to run financial reports with simple steps and various options such as customize by month and year. The additional feature that can be add value on these reports could be if the system automatically gives the amount based on the Lease year for all units despite the fact that they have different Lease periods.

ability to apply more than one accounting standard to a lease, ease of running reports and creating ad-hoc rpeorts, clear and easy to follow journal entries and lease amortisation schedules, clean user interface

very US-centric whereas we are UK company applying IFRS and would like more of the US terminology turned off and more of the IFRS 16 accounting rules evident and labelled as such in the application so that users can make direct correlation to what is in the IFRS rules

Hi Karen! Thanks so much for sharing your feedback. We would like to learn more about the specifics of how we can improve our lease accounting nomenclature and usability for clients focused on IFRS 16. I will reach out directly to see if you'd be willing to connect with our Product Team. Thanks again for taking the time to share your input. It is much appreciated.

Very intuitive. I like the idea you can create new Lease ID's as a test to "play around" with the software and test out the calculations before they go live.

User manual very confusing to read. Sometimes input key (especially for dates) doesn't work and have to retype many times to get date in.

The software is intuitive. Each screeen is logical and easy to navigate. Everyday I find something new feature I can use in the adminstrative section along with projects.

When it comes to putting dates there is sometimes a different way to put them in. Depending on the country your are working with dates can be misleading . the first set of number are either the day or the moth. Dates should be 09-MAR-2019 = 99-MMM-9999. Sometimed the drop down date is not as intuitive as you would think. this is a small thing but I have made a mistake or two because of not paying attention.

For me, the best feature of Visual Lease is the report generation. It is so user friendly! There is no point in maintaining a database of information if you are not able to access that information by clicking a few keys! You can literally create a report with any data points from the system in minutes. It has changed the way we do our jobs.

I can't think of a single thing I would change.

Ease of use. It is fairly simple to navigate throughout Visual Lease.

Setting up Ad Hoc reports can be a little difficult. Understanding how to get the filtering to work is not as easy as some systems I have worked with. To be fair, I have not taken the time to go through any of the tutorials, but it is not as intuitive as other systems.

What I like most about this software is that I am able to keep all of our corporate leases organized with all critical dates and monthly financials. I also utilize the reporting system, making monthly rent payments easier and efficient.

Creating reports can be confusing at first, but once they are created reports are easy to generate when you need them.

Allows us to track and report on all our leases, tie in with Accounting for rent payments and FASB compliance.

Would like a more robust method to track CAM/OpEx expenses, but that's a minor issue.

Able to view leases and abstracts quickly. Since I pay the rent for over 100 locations I look at the financials and this is very helpful.

As of now I have not found anything I do not like about Visual Lease

The software is very straightforward and easy to use. This solution allows us to stay organized and provides us the platform to be in compliance with ASC 842 Leases. In addition to this we were able to provide our auditors access to read-only documents and calculations and the audit was significantly smoother because of this capability.

There are some challenges to disposals/terminations of agreements. Improvements are needed to manage the entire life cycle of a leased asset, especially when it comes to accounting and compliance with the new lease standard.

Hi Ray! Many thanks for taking the time to share your feedback. It is much appreciated. Our Product Team would love to speak with you further re: your needs around life cycle management and how we can simplify that process. We will be in touch to follow up with you shortly! -Andrea - Manager, Product at Visual Lease

We have been using VisualLease as our exclusive leasing program for almost seven years, and it has never failed to fulfill our leasing neeeds. Having all of our office leases easily accessible from anywhere by multiple users has allowed us to respond to every leasing question in a matter of minutes. The abstract function is extremely valuable in accessing quick information on specific topics, and...

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If there are any "cons," it might be that although the program is ultimately very user-friendly, it does takes some training at the begninning in order to learn all that the program has to offer. This is not really a "con" - it's just a simple learning experience which is to be expected with any new program.

Ease of use and the capability to pull many different reports for rent and other clauses.

Better functionality in retrieving data for special reports -- such as an Option Notice Report that has more detailed information for our needs. Too detailed to explain here. When entering "increase" dates for rents, can put in notes but not all notes appear even though they are there. Thus, enter increases separately. However, if entered in this fashion and an "increase" report is pulled these entries do not pull up.

Allows us to modify fields as needed and houses information in a very user friendly way.

As of now we have yet to run into anything that we do not care for.

Visual Lease is a great product. I think what I like most is the constant improvement they make to the product to meet the needs of their clients. Training is offered on each new version or module that is being introduced.

There is really nothing that I don't like about the product or vendor. Until recently, it would have been the fact that they were not able to offer translation services when abstracting leases; however, that has been resolved and can now be provided.

It is incredibly easy to use and adaptable to our needs.

Some of the features and reporting are a little counterintuitive.

Ease of use. Very user friendly and intuitive.

Implementation was tough. Have a lot of abstraction documents that are rolling so trying to figure out how we can send new documents coming in to VLC to abstract and upload. Trying to figure out a process for that.

The software is very logical and easy to use. Visual Lease places a high priority on responding to client requests/suggestions to improve the process. Any time I find myself wishing I could do something, I email my idea to support. Many of my suggestions have made their way into upgrade releases.

This is a tough one to answer. To be fair, I'm trying to come up with something. Nothing is coming to mind.

This is a good web-based real estate lease accounting and management system. User can customize data fields according to requirements for contracts and the integrated accounting system is great for keeping track of the companies finances. It pretty much covers the bases as a software solution for leaseholders and corporate real estate. And its FASB and IASB compliant.

Not really a con: Needs a bit of a learning curve, but totally understandable- same as with everything.

It's easy to use, and it makes it easy to organize and visualize the lease information. We are able not only to utilize the lease records for information, but also to start using the Project Module for projects that are in progress. It helps keeps the information in one place for everyone to read for updates instead of emailing back and forth.

It's not able to do all of the custom reports our team needs. We have to manipulate some of the standard reports and portfolio reports.

It is a comprehensive software solution that brought together out leases in a manageable platform while accommodating current and future lease reporting obligations. Lease calculations, including transition calculations, are easy to understand and accomplish.

After about the first few leases processed through the system the flow and understanding of the required items become routine and all complications are overcome.

This is one of the easiest systems to understand and to operate once you start working with the system. The updates often reflect items that we have discussed with Visual Lease. The Training videos are very helpful and customer service has been outstanding.

Are usually taken care of in the latest update.

Great product! Support is fantastic, with knowledgable, easy-to-work with reps. Training has been offered with each software version update released.

For us the only con that I can offer is the need to send leases in for data entry and abstraction in batches of 10-20, but I totally understand this requirement.

Visual Lease now offers lease translation and abstracting services.

Tracking lease terms, contacts and key dates is most important to me.

We chose to enter our own lease information in to the system. The bulk upload was nice but entering the data that could not be uploaded took a good deal of time. It was worth it!

Visual Lease automatically generates our ACH feed for monthly rent payments of $1.8M over 56 lease locations. Visual Lease generates reports in a matter of minutes, when I previously devoted a day to complete the same task. The cloud-based software is easy to access on the road.

We look forward to the day when Visual Lease adds the ability to see 20-30 thumbnail images for each lease location.