Lease Management System

4 minutes read

What is Lease Management?

Lease management, also referred to as lease administration, is the process of following up, developing, and managing each characteristic of a property manager’s lease portfolio. Every detail about a lease needs to be recorded, including the financials. Under novel lease accounting standards, it is a must for both non-profit organizations and corporations to record the right-of-use assets and the payment liabilities. Lease management is important because when the process is done correctly and potently, organizations and business can benefit from it in many different ways. Lease management revolves around the performance of various daily tasks. Because it makes things easier, most businesses rather digitize their lease management  process by using a lease management system.

What is a Lease Management System?

A lease management system is an ample system that has major influence on the entire leasing workflow due to the transparency of the information. The system allows for an easier process to manage your properties, as well as aiding in the development and growth of your business. Lease management systems can improve planning and project management. They can also ensure that all your business activities are on track, for example documentation or tracking tasks, and make sure that your business is running smoothly. 

Tricky and time consuming tasks such as collecting payments can be done more securely using lease management systems. Another big advantage that comes with lease management systems is that they completely eliminate the need for any paperwork to be done, since every document that is needed could be sent and stored electronically.

Why is Having a Lease Management System So Important?

If you manage multiple leases then you know how things can get a bit hectic, so using a lease management system can help with keeping all your tasks under control. There are several reasons why having a lease management system is important. Some reasons include:

  • Consistent performance overview
    A lease management system will allow you to consistently track your business performance based on whatever time period you need e.g. daily, weekly, monthly. You will be able to view all your data faster and with more precision.  With lease management systems, the accessibility to all the data needed is made much simpler.
  • Document automation
    As the lease manager, or even the property owner, it is vital to have all your records in e-documents. Managing all the documents is a lease manager’s main responsibility in whatever way that they chose to do it, either manually or automatically. Manually recording for one or two properties might not be that big of a hassle; however, handling numerous properties and recording for them all manually might hinder the accuracy of your work. Therefore, using a lease management system in order to automate your work will lead to the data being more accurate and easier to access and manage.
  • Saves time
    With lease management systems you would be able to save so much time when it comes to managing various elements of your business. As a business owner, you invest most of your time in order to advance your business. However, you could be sometimes wasting time handling redundant or repetitive tasks that are associated with management. That being said, with a lease management system, you are able to automate most of these tasks and get them done quickly. 
  • Availability of information
    Using a lease management system will allow you to have access to all your information from anywhere you might need them. With all the information and documents present and organized on your lease management system, you would not need to worry about having any physical document on you. All you would need is to connect to an internet connection, and you will have access to all the data on your cloud-based lease management system.
  • Increases clients’ and contractors’ confidence
    A lease management system aids with increasing your clients’ and contractors’ confidence while working with you. Since using a lease management system allows you to have all the insights that you will need, you are able to immediately share any facts with your clients and contractors. In addition to that, using lease management systems aids in the growth of your business, since you will have more time to allocate to running your business. This growth can be reflected in your portfolio which clients and contractors will see.

Having a lease management system can ease your mind and help in making your work more efficient. 

Features That Are Present on Lease Management Systems

As stated above a lease management system serves to help lease managers manage their leases more efficiently. So, for the system to be effective, there are basic features that should be present on it. These features include the ability to:

  • Store and archive documents
  • Accept electronic signatures and verify them
  • Provide cloud functionality, capabilities and connectivity
  • Generate leases and reports
  • Transmit && export data securely

Not having the ability to correctly manage your leases could lead to critically problematic consequences. One of the basic steps in becoming a professional lease manager is the ability to manage all types of documents and be able to execute the correct procedures. With that said, the top priority of a lease management system is to help lease managers oversee their leases. 

Another extremely important feature to consider is the ability of the lease management system to integrate with other external systems. This is important because if the lease management system is missing a feature, or it is still under development, you would be able to seamlessly integrate your lease management system with an external one that fulfils your needs. 


To conclude, lease management systems are used by lease managers in order to help them work more efficiently and in a more organized manner. They offer all the needed information on one platform, and allow lease managers to perform all their tasks on this single platform. As a lease manager, you should choose a lease management system based on what your needs are, and what the system offers. When a lease management system is used properly, it could be a very effective tool in capitalizing return on investment (ROI), particularly when managing multiple leases, and for companies that are growing. 

If you’re a lease manager looking for a powerful lease managing system, we recommend you try using RAY. RAY is a potent property management platform that includes an easy-to-use lease management system as well as numerous other handy features. Check RAY out on