Lease administration is sometimes also called lease management. It covers the process from the inception of the lease through the lease lifecycle and termination, i.e., recording the lease, billing and collecting dues, notifications, mid-life changes, termination, renewal, and return of assets.
Focusing on documentation, leasing system capabilities, compliance, and audits can help lessors enhance efficiencies by streamlining their processes.
Automation & Compliance
Efficiency of lease administration is a combination of having the right technology, developing and refining the systems followed within the organization, and continuous training reinforcing the processes.