As real estate investors, family offices, developers, and property managers confront dynamic markets, the Sage Intacct Real Estate module can help them automate and streamline lease management and financial reporting.
Sage released the Real Estate module, part of its Construction and Real Estate solution, to help companies throughout the real estate ecosystem manage complex administrative and reporting tasks, such as lease management, accounting, and billing and fee collection, more effectively.
Features of the Real Estate Module
Sage Intacct Real Estate helps companies and investors eliminate duplicate data entry, saving time and reducing potential errors. It provides better visibility in a variety of performance metrics, as well as a better understanding of current and upcoming lease agreements.
Lease Management Capabilities
The solution simplifies operational, administrative, and financial tasks by treating lease records as the foundational sources of information about tenants, properties, revenue, and expenses.
Real estate companies and family offices can track lease data in a variety of customizable ways. This can include:
- A specific tenant with multiple leases in a given property (or in different properties)
- Leases that include multiple units
- Leases that include multiple tenants
Real estate companies can add unique provisions for each arrangement. They can also enter future lease information and schedule lease activation at a later date.
The solution also automates the tracking of lease starts and terminations, as well as upcoming move-ins and move-outs, and provides checklists that cover related activities.
Sage Intacct Real Estate can automate the calculation of prorated charges based on move-in and move-out dates, calculate interest on deposits and issue tenant 1099-INT forms, and reconcile final charges, credits, and deposits as well as any applicable tenant refunds.
The Real Estate solution also tracks details such as property taxes paid, property valuations, tax exemptions, and insurance information for a property.
Accounting and Reporting
The Real Estate solution automates complex financial management and reporting functions by integrating with the Sage Intacct platform to provide general ledger data such as expenses and budgets. This helps companies forecast revenue and profit among a variety of dimensions and to identify recoverable expenses.
Billing and Fee Collection
Companies can choose from templated or customized statements and invoices and track recurring charges on the schedule that best meets their needs and tenant agreements.
Miscellaneous and nonrecurring charges can be calculated as needed, and companies can retroactively bill unpaid charges resulting from recoverable expense reconciliations.
Recoverable expenses and escalations can be based on prior-year actuals or future period budgets. Similarly, late charges can be based on a percent, flat amount, formula, or a combination.
Sage Intacct Help
To learn more about the Sage Intacct Real Estate Module, please contact one of our consulting experts.