How voice commands linked to AI-powered negotiation tools will shape the future of property management Posted on July 30, 2024 (September 27, 2024) The rapid advancement of artificial intelligence (AI) is revolutionising numerous industries, and property management is no exception. One of the most promising innovations in this field is the integration of voice commands with AI-powered negotiation tools. This combination promises to enhance efficiency, accuracy, and convenience, profoundly impacting the future of property management. Streamlined Communication Voice […] Read More… from How voice commands linked to AI-powered negotiation tools will shape the future of property management
Understanding the Impact of Using Different CPI References in Lease Reviews and How AI-powered Lease Abstraction can mitigate costly mistakes Posted on July 2, 2024 (September 26, 2024) Rent reviews based on the Consumer Price Index (CPI) are common in commercial leases. However, the specific CPI reference and timing can significantly impact the calculated rent adjustments. This blog delves into the differences between the last published CPI and the immediately prior CPI, comparing the impact of using the Sydney-based index versus the average […] Read More… from Understanding the Impact of Using Different CPI References in Lease Reviews and How AI-powered Lease Abstraction can mitigate costly mistakes
Why Commercial Lease Management Software is Critical for Lessees Posted on July 2, 2024 (September 26, 2024) Commercial and retail leasing has grown exponentially in complexity as the business world has changed dramatically in recent years. Due to three main drivers, managing leases from a lessee’s perspective has become impossible with simple spreadsheets. First, IFRS (AASB 16), which was enacted on 1 July 2019, requires lessees to “capitalise” future rental payments on […] Read More… from Why Commercial Lease Management Software is Critical for Lessees
Eliminate Errors with AI-powered Lease Abstraction Software in Australia Posted on June 17, 2024 (July 30, 2024) In Australia and globally, research indicates that approximately 1.3% of commercial leases are either over or undercharged, caused by human error in manual abstraction. A $25 million rent portfolio could translate to circa $325,000 per annum in over or undercharging. On a typical 5-year leasing deal, this could translate to millions of dollars. As there […] Read More… from Eliminate Errors with AI-powered Lease Abstraction Software in Australia
Recover excess rent charges through AI-enabled, risk-free audit review Posted on June 17, 2024 (July 30, 2024) The problem Commercial leases often face overcharges, affecting an estimated 1.3% of all leases. A rent roll of $25 million translates to approximately $325,000 in lost income annually. The absence of a standard Australian commercial lease format makes quality assurance and cross-referencing during audits time-consuming and costly. Compliance and litigation risks are significant sleeper issues […] Read More… from Recover excess rent charges through AI-enabled, risk-free audit review
How AI can Produce Quicker & More Accurate Lease Abstraction Posted on February 28, 2022 (March 26, 2024) Accurate and timely lease abstraction is critical for many types of organisations; from retailers and occupiers wanting to manage their leased portfolios, to landlords and property managers seeking to ensure their obligations are met, and accountants and lawyers trying to deliver for their clients. Unfortunately, the process is labour intensive, time consuming and error prone. […] Read More… from How AI can Produce Quicker & More Accurate Lease Abstraction
What is AASB 1060 and What Does it Mean for your Business? Posted on January 28, 2022 (March 26, 2024) New AASB 1060 standards were issued in March 2020 by the Australian Accounting Standards Board (AASB) to come into effect from periods beginning on or after 1 July 2021 (years ending 30 June 2022 and onwards). So what do these new standards actually mean for your business? Will you have to change your disclosure systems? […] Read More… from What is AASB 1060 and What Does it Mean for your Business?
Lease Audits – A Key Risk Management Tool Posted on July 26, 2021 (March 26, 2024) In this blog post we will explore lease audits and how they are a key risk management tool for any business with a commercial lease portfolio, big or small. What is a lease audit? A lease audit is the process whereby lease provisions and obligations are examined and interpreted to ensure they have been appropriately […] Read More… from Lease Audits – A Key Risk Management Tool
How to Review your Lease in Less Time Posted on July 19, 2021 (March 26, 2024) Commercial leases can be extremely complex and difficult to comprehend, with hours of manual review often required to accurately understand your obligations. For any business who deals with numerous properties and therefore a multitude of leases, the lease abstraction process is time consuming, laborious, error prone, costly and inefficient. There is a better way. Accurait® […] Read More… from How to Review your Lease in Less Time
Key Features of an Effective Lease Management System Posted on April 12, 2021 (March 26, 2024) Property Lease Management Systems are sophisticated and powerful tools which assist lessees across the country (and around the world) in organising and managing their obligations of their leases. However, a recent influx of software solutions of all shapes and sizes for commercial businesses begs the question, “How do I tell which one is the best […] Read More… from Key Features of an Effective Lease Management System
