March 31, 2010
Lucernex expert and EVP Ken Brown’s (see Ken’s management summary here) discusses why its time to upgrade your Lease Administration Software.
Real estate organizations have been using lease administration systems for years. What started out as a replacement for clunky, file-based records that were often misplaced and decentralized, modern lease administration systems have turned into centralized, decision-support databases that are critical to maximizing ROI of real estate assets. When these systems first appeared, simply having all of the key leased and owned data in one place and sharable across the organization was the primary goal.
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Tags: commercial lease software, commercial real estate software, IWMS, Ken Brown SLIM, Lease Administration software, retail lease software, SLIM lease :: No Comments »
March 23, 2010
In 2009, Ken Brown, former CEO and Founder of National Facilities Group and the designer of the SLIM Lease Administration solution, joined Lucernex. He along with Lucernex’s President Joe Valeri and former Workplace IQ/Siteseer executive Howard Zola, set out to design a new module of Lx IWMS to manage all Leases and Contracts. The results is Lx Contracts!, a 100% web-based Lease Administration and Contract Management tool. SLIM was the first major lease administration solution to hit the market in the late 1980′s and was managed and developed by Ken until 2003. Ken’s expertise with all of the major lease administration tools including SLIM, REM, Siteseer and RetaiLease allowed Lucernex to create the new industry standard product for Lease Administration and Contract Management.
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Tags: Accruent SLIM, Accruent SLM, IWMS, Lease Administration software, lease analysis, REM, SLIM, SLIM lease Admin, SLIM real estate software :: No Comments »
March 1, 2010
Originally published in the National Association of Realtors RCA Report, Winter 2010
If time is money, then technology is an investment a commercial real estate professional can scarcely afford to neglect. Today, brokers and property managers can produce complex analytical data, transfer the information to an easy-to-read Excel file and present it to clients with a few key strokes. What used to be a laborious, mathematically-inclined and time-consuming process now has been so streamlined by software products that pencil pushing and number crunching are a much smaller part of the job.
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Tags: Commercial real estate analysis, commercial real estate software, Lease Administration software, lease analysis software, NAR, real estate decision software, real estate leasing software :: 2 Comments »
February 21, 2010
Lucernex expert Jim Duport discusses GAAP sublease accounting.
GAAP Sublease Accounting
Summary of GAAP/FASB Accounting for a Loss Associated with a Sublease
Our interpretation of GAAP sublease analysis according to FASB accounting rules is as follows:
Overview: Start by determining the net present value of all rental costs including write-offs of depreciation and subleasing costs, offset by the sublease income (the NPV write-off). The Income Statement (Profit & Loss statement) is then charged the NPV write-off and it is charged an interest expense based on a declining balance of the NPV write-off, the accretion interest expense. The declining balance is determined by taking the net monthly costs (including sublease income) and the interest expense and deducting that cost from the NPV write-off.
Steps are as follows:
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Tags: commercial lease analysis, commercial real estate, Commercial real estate analysis, GAAP Accounting, GAAP Sublease Accounting, Lease Administration software, lease analysis, LseMod, real estate software, sublease analysis :: 6 Comments »
February 5, 2010
Replace Accruent SLM, IWMS, SLIM, REM with Lx Retail
Accruent’s Store Lifecycle Management (SLM) product sold to dozens of retailer and corporate users since 2004 came about due to a license sold to Accruent by Lucernex in 2003 allowing Accruent to market the Lucernex IWMS solution under the Accruent name. The core of the Accruent solution remains, in large part, the 3.81 version of Lx Retail. Lucernex has since updated the location performance management software and is now at version 9.0 having made vast improvements in the capability. The former creator of SLIM, Ken Brown, is now in charge of Lucernex product design and development after selling the SLIM product and his company, National Facilities Group, to Accruent in 2003. As a result Lucernex can provide the smoothest transition for current Accruent clients.
No first year software cost!!
To make this easy to budget, Lucernex will convert any Accruent client to Lx Retail and charge no first year fee for the software. In addition, as a conversion from Accruent is really more of a simple upgrade into the newer version of Lucernex, our professional services team will charge a simple cost plus 20% for the project.
No one can convert you from Accruent faster, cheaper or more accurately than Lucernex!
Please use our Product Information page if you are interested in talking to an Lucernex representative about our Accruent upgrade.
Tags: Accruent, Accruent IWMS, Accruent SLIM, Accruent SLM, commercial real estate blog, enterprise location management, integrated workplace management, IWMS, Lease Administration software, location management software, location performance management, NFG SLIM, real estate blog, SLIM :: No Comments »
February 4, 2010
Lucernex expert and EVP Ken Brown’s (see Ken’s management summary here) article written for IWMSNews: See the article here
While no one can say for sure, it appears based on the recent positive GDP announcement, that the U.S. economy has bottomed out and we are now in the midst of what may be a longer and slower recovery when compared to past economic recessions. The events of the past 24 months have forced growth-minded real estate companies to re-examine or retool their business models to optimize efficiencies and harness opportunities. Economists believe future growth is expected to come from overseas markets, especially Asia and the “BRIC” nations (Brazil, Russia, India, and China).
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Tags: BRIC, commercial real estate, Commercial real estate development, commercial real estate software, Global Real estate, IWMS, IWMSNews, Lease Administration software :: 1 Comment »
January 31, 2010
Lucernex expert Jim Duport provides this response:
In essence, GAAP (Generally Accepted Accounting Principals) rent is an averaging of the rent over the term taking into account rent abatement and fixed/known rent increases. The rent cost calculated based on GAAP is then charged/booked to the Income Statement / Profit & Loss (P&L) statement. The P&L statement is what is reported to the Securities and Exchange Commission (SEC) and is used for tax purposes. In many corporations, the GAAP rent is also the cost that is charged to the real estate department’s or end-user’s budget.
CPI & GAAP — a CPI GAAP analysis
What happens if there is free rent and rent increases are based on the Consumer Price Index (CPI), a “CPI GAAP analysis”? Since increases are not a “known” value, it is difficult to apply GAAP to a lease with CPI increases.
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Tags: Commercial real estate analysis, commercial real estate software, CPI GAAP Analysis, GAAP, GAAP Accounting, GAAP impact on SOX, GAAP rent, lease accounting blog, Lease Administration software, SOX :: 6 Comments »
