There are a variety of ways brokers can track and record lease comps. Examples include using a CRM application or project management database like Aptotude, recording in a larger database like REapplications or Xceligent, or simply using an Excel spreadsheet.
All of these examples require that data be re-entered or uploaded in to yet another application.
It doesn’t have to be this way.
If you’re a user of LeaseMatrix, lease comps are recorded automatically. Through our proprietary software application, we automatically record and abstract the terms of every lease proposal for you.
Now that that is out of the way – by using LeaseMatrix’s CompVault, you’ll never have to update or upload another spreadsheet or input data into another system again.
In addition to the elimination of this data entry process, your lease comps are all right where you need them. Rather than having to log into your database and search for comps, your entire lease comp database is a click away.
For example, want to see all the Class A office lease comps you have for downtown Seattle? Just run a quick query for “Office “Class A” “Signed Lease” and the related zip code(s), and BINGO!
Not only will you immediately generate a list of comps which match your search criteria, CompVault automatically generates the averages for the following data points:
- Rentable Area
- Rental Rate
- Lease Term
- Free Rent Period
- Improvement Allowance
Using this information, you can generate lease comparable reports and market statistics in no time.
All you have to remember to do is classify the selected deal as a “Signed Lease” on the Basic Information page.
Login to view your Private CompVault.
Not user yet? Interested in learning more? Here are 3 ways the CompVault helps brokers work more efficiently.