Visual Lease Reviews

Pros
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.

Cons
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.

Rating breakdown

Likelihood to recommend: 10/10

Pros
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 the financial tracking function has cut our annual budgeting process time in half. I don't know how we'd manage our leases without Visual Lease. The best feature of VisualLease is the company's customer service. There is always a person available to respond immediately to every question and to find a solution to an issue in very short order. The new web version has virtually eliminated all technical issues, and new updates are frequent and well announced.

Cons
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.

Rating breakdown

Pros
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

Cons
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

Rating breakdown

Likelihood to recommend: 8/10

Pros
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.

Cons
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.

Rating breakdown

Likelihood to recommend: 10/10

Pros
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.

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

Rating breakdown

Likelihood to recommend: 10/10

Pros
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.

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

Rating breakdown

Likelihood to recommend: 8/10

Pros
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.

Cons
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.

Rating breakdown

Likelihood to recommend: 10/10

Pros
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.

Cons
Are usually taken care of in the latest update.

Rating breakdown

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

Cons
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.

Rating breakdown

Pros
The product is very intuitive and easy to use. The vendor is attentive and works to make every member of our team feel included and like their own special needs are met.

Cons
I can't think of anything I dislike about the product or vendor. I have worked for 25 years implementing various types of property management software. Visual Lease is by far the best.

Rating breakdown

Likelihood to recommend: 9/10

Pros
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.

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

Rating breakdown

Likelihood to recommend: 10/10

Pros
Customer Service is excellent, prompt and efficient. The value given for the cost is very attractive; Visual Lease is very cost efficient

Cons
Whenever I have one, they find a way to solve it.

Rating breakdown