CoStar Reviews

“lease management done right

Pros

There's a very comprehensive guide built into the program for lease management, including the documents you need which has been really helpful.

Cons

It has made property management much more efficient and I haven't run into any issues with it.

“powerful lease accounting hub

Pros

What really works well with this app for us is how it serves as a single database for every kind of lease, whether that's real estate, equipment or others, while also functioning as a tool for ASC 842 and IFRS 16 lease accounting. Having both pieces in one system makes reconciliation between accounting reports and lease data much more simple and it's very helpful that users can access both the lease details and the accounting information in the same application.

Cons

Reporting datasets seem more complicated than they should be. I'd like to see all fields available across datasets included more clearly and right now there's no way to view the list of available data fields in each reporting dataset until you actually select it and dig through it. On top of that, we need a simpler rollforward for overall lease accounting schedules because the current report is too complex to interpret and difficult to explain.

“Great customization options

Pros

I've found using this software to be very easy and the level of customization it offers is really impressive.

Cons

There were a few bugs at the beginning but the support team handled them and got everything resolved fast.

“Top-notch knowledge base

Pros

The knowledge database is one of the best I've worked with. The ETL tools have been really useful for handling mass updates and user management becomes pretty easy once you learn how it works.

Cons

One frustration is that support tickets can take quite a while to get a response especially when the issue needs research. Designing SOX-compliant security reviews for SODs can also be a real challenge though their out-of-the-box security reports, now referenced on SOC-1, have gotten better--you just have to figure out which reported changes actually matter.

“efficient lease management

Pros

For our accounting team, lease accounting and amortization schedules are fully automated and that really makes this tool a valuable product.

Cons

It would be even better if it included smarter features to catch incorrect data when something is entered or populated wrongly.

“Not very user-friendly

Pros

Having subfolders inside the document section helps us keep everything organized.

Cons

We are unable to edit individual sections, which is really a downside for me. Managing separate buildings and then creating a lease feels like doing the same work twice. The system also isn't very user friendly and there's no support for end users unless you're an admin. On top of that, there's no free training available.

“highly efficient platform

Pros

In my view, Lease Administration and ASC 842 reporting feel best in class and the workflow is outstanding. Compared with other top software that makes you jump through multiple screens, this one is much more smooth and efficient to use. It stands out as the strongest all-in-one solution for both lease administration and lease accounting on the market. They hold a major share of the market and that made the choice easier to support because it's clearly the most mature and capable software option available.

Cons

I really don't have any complaints.

“Reliable support for listings

Pros

After spending more than a year trying to lease a commercial tenant space we turned to this product and it worked out really well. The setup was simple and using it day to day didn't take much effort. On top of that, the customer service team follows up regularly to confirm our listings are current and even shares helpful ideas to improve them.

Cons

It definitely isn't inexpensive although that seems pretty standard for commercial real estate listing software in this industry.

“support team is amazing

Pros

My team had a really positive experience using the product. You could tell the team cared about keeping the information current and whenever I came across something outdated I could submit a request and they would look into it and update the research for us.

Cons

Cost was the biggest downside. That's ultimately why we switched to another product that was more affordable and fit our needs just as well.

“all-in-one CRE powerhouse

Pros

This tool has a lot of useful features for us and really works as a one-stop platform for commercial real estate. It lets us search CRE data, build market stats and promote your listings all in the same place which makes the workflow much more convenient.

Cons

The biggest issue is definitely the cost because it is quite expensive. That said, the quality of the data and the level of support you get make the price feel worth it overall.

“Useful property data and reports

Pros

In my experience, one thing this platform does really well is give you access to just about every commercial property in one place. The information is laid out clearly and most of the time I can quickly find exactly what I need. On the listing management side, the performance report is easily the best feature and the part I value most.

Cons

The downside is that brokers do not always keep their listings updated and sometimes important details are left out on purpose. It also does not replace the need for cold calling since the software mainly serves as a starting point and helps you prepare before making those calls.

“Helpful sales organization tools

Pros

For our sales team, the tools are adequate for organizing sales by agent and that part works well for keeping everything structured.

Cons

Moving over from other software is difficult which makes the transition more complicated than it should be.