CoStar Real Estate Manager Reviews

“Effective Lease and Property Managing Approach

Pros

This program offers an extensive resource for managing leases and required documentation.

Cons

This software has significantly streamlined my property management tasks, and I haven't encountered any issues so far.

“Review of lease accounting function of CoStar Real Estate Manager

Pros

I like that CoStar serves as a comprehensive database for various lease types (real estate, equipment, etc.), while also functioning as a tool for ASC842/IFRS16 lease accounting standards. This integration simplifies reconciling accounting reports with lease data, providing a unified view within one application.

Cons

The reporting dataset is a bit complex. I wish all fields could be included across all datasets, and it would be helpful to see a list of available data fields before making selections. Additionally, I find the current lease accounting schedules report overly intricate and challenging to interpret.

“Best software for lease management

Pros

The software is simple to use and highly adaptable.

Cons

There were a few bugs initially, but the support team resolved them promptly.

“CoStar as a lease management application

Pros

Most administrative functions are intuitive and easy to apply. Any support queries related to admin tasks are promptly addressed and resolved.

Cons

CoStar operates as a SaaS application, which limits access to more advanced admin functionalities.

“User Friendly with great customer support

Pros

The system is intuitive and easy to navigate. As the system admin, the excellent customer support we receive from CoStar is an added benefit.

Cons

While there's always room for improvement, I don't anticipate seeing any changes in the near future.

“Review

Pros

It's a useful tool for tracking real estate details like dates, rents, and locations.

Cons

Creating reports is restricted to particular datasets and isn't easy to adjust.

“Clunky software (though continually being updated/improved) that does the job for ASC842 and rent

Pros

The knowledge database is outstanding, among the best I've used. The ETL functionality has been invaluable for bulk updates, and managing users becomes simple once familiar with it.

Cons

Support ticket responses can be slow, particularly for issues requiring research. Designing SOX compliant security reviews for SODs can be complex, but their out-of-the-box security reports (now referenced in SOC-1) have improved though it's crucial to identify key changes among the reported updates.

“Reivew

Pros

The search capabilities and accounting flexibility are standout features.

Cons

I would prefer more flexibility for physical period calculations and percent rent calculations rather than just monthly periods.

“CoStar review

Pros

Overall, CoStar is user-friendly for the most part.

Cons

The customer service and follow-up are disappointing. I often need immediate responses, but it sometimes takes days for issues to be resolved.

“Lease accounting and management

Pros

It provides a complete solution with customization options and excellent support.

Cons

System changes and training accessibility could be improved more frequently.

“Costar Cirion

Pros

While the product itself is easy to use, integrating it was challenging, but we managed to achieve it.

Cons

The report parameters are complex to set, and I can't request everything I need.

“CoStar Real Estate Lease application is more Sophisticated application

Pros

CoStar is designed with a user-friendly interface and robust internal controls, making it an advanced lease application. It simplifies complex lease accounting schedules for both US GAAP and IFRS GAAP, and serves as an end-to-end lease repository.

Cons

So far, I haven't identified any major areas for improvement.

“CoStar - great application for lease management & accounting

Pros

Automated lease accounting and amortization schedules make this tool highly valuable.

Cons

It would be beneficial to have smart features that can detect incorrect data inputs in CoStar.

“Meh

Pros

The ability to organize documents into subfolders enhances organization.

Cons

It's frustrating that individual sections can't be edited. Managing separate buildings and leases feels like redundant work. End-user support is lacking unless you're an admin, and there's no free training available.

“Lease Administration & Accounting

Pros

Lease administration and ASC 842 reporting capabilities are top-notch. The workflow is streamlined compared to other software that requires navigating multiple screens.

Cons

CoStar is unmatched as a combined "Lease Administration" and "Lease Accounting" tool in the market! They dominate XX% of the market share a testament to their maturity and excellence in software options.

“Good Product for Listing Commercial Real Estate

Pros

After struggling for over a year to lease commercial tenant spaces, using this product was simple and setup was easy. Regular customer service check-ins ensure our listings are up to date and offer helpful suggestions.

Cons

While it's not inexpensive, most listing software in the commercial real estate industry comes at a cost.

“Great Product But Very Pricey

Pros

The product was excellent to use, with a strong emphasis on maintaining updated information. Requests for updates were promptly addressed.

Cons

The price was the major drawback for us. That's why we switched to a more affordable product that met our needs just as well.

“Use it to Get your Money's Worth

Pros

CoStar offers a wide array of features essential for commercial real estate professionals. It consolidates CRE data search, market statistics creation, and listing marketing into a single platform.

Cons

What I find least appealing about CoStar is its high price tag. However, the quality of data and support it provides outweighs the cost.

“Up to the Users to Update Listings

Pros

I value the extensive database of commercial properties on CoStar. It's effective and offers in-depth performance reports for managing listings.

Cons

Brokers don't always update listings or may omit information intentionally. Cold calling remains a necessity with this software, it provides a foundational understanding before making calls.

“Great software for real estate managers

Pros

The tools provided are sufficient for organizing sales by agent effectively.

Cons

Transferring data from other software to CoStar can be challenging.

“Overall Great Product for anyone on real estate

Pros

This product is invaluable for researching properties for real estate purposes. It provides detailed insights into past sales, property values, demographics, pricing, and competitors.

Cons

Sometimes, I question the accuracy of the data despite regular updates. It's not always the company's fault as some properties provide inaccurate information.

“An Absolute Necessity!

Pros

CoStar is indispensable for anyone in the real estate industry. It helps us ensure compliance with leasing procedures and market value benchmarks.

Cons

While I wish the pricing were more competitive, overall, it's still a great product!

“Costar - Great Customer Support

Pros

I love the ability to quickly access all listings for lease or sale within a specific city, trade area, or custom polygon.

Cons

There are so many tools available in CoStar that I'm sure I'm not fully utilizing the software's potential.

“Costar is a great tool when you know how to use it.

Pros

Having all commercial data consolidated in one place is a major advantage. The customer support is reliable, readily providing contact information when needed.

Cons

I dislike the fact that it's expensive and could be more user-friendly. The report options should offer more criteria for generating reports.

“Beware! They will renew your agreement even if you do not want it.

Pros

CoStar provides a wide variety of listings and is easy to navigate. It includes photos for most listings, simplifying property assessment.

Cons

We used the software to target new businesses moving into our area, expecting accurate contact information. Unfortunately, many contacts were outdated, some even deceased. Despite requesting updates, nothing was done, and now they're trying to charge us for a service that didn't deliver as promised.

“Very Useful for property management

Pros

I find this software incredibly useful for analyzing market conditions in a specific area, examining competitors, and gathering data for my own properties.

Cons

Navigating the software can be somewhat challenging. Without any formal training, I had to explore it on my own to locate the information I needed.

“CoStar is user friendly, best choice of software!

Pros

CoStar is highly intuitive to navigate and facilitates obtaining the necessary information to make informed real estate decisions.

Cons

I wish the software had faster updates, but apart from that, I can't think of any other drawbacks.

“CoStar is very easy to use, provides great results.

Pros

One feature I love about this platform is how it consolidates all details about a property or development into one interface, organized neatly with different tabs. It's visually appealing and effortless to navigate.

Cons

I've noticed that some information is occasionally outdated. CoStar might consider finding a way to keep the data more current.

“Best All-Around Choice for Lease Accounting and Real Estate Management

Pros

Utilizing a system like CoStar not only drives business outcomes but also ensures compliance with new accounting standards, making it a compelling choice across all facets of your business. Amid numerous options available, I believe it stands out as the most comprehensive solution.

Cons

I can't think of any negatives.