Many companies are looking for ways to improve their property lease management strategy. In many cases, “strategy” might not even seem like the right word, as lease management is often relegated to the sidelines, only arising as a cost of doing business when paying bills.
The introduction of new lease accounting standards IFRS 16 and GASB 87 makes lease management a fundamental part of any growth strategy in today’s world. It’s no longer possible to treat lease management as a basic cost of doing business and simply pay the bills.
The scrutiny leases are now subject to means companies need to invest in optimizing their property lease management strategy to prove compliance and foster sustainable growth.
In this video, we will explore ways to optimize your property lease management strategy.
00:00 – Introduction
00:31 – 1. Centralize lease data and management tools
00:38 – 2. Set-up controls and processes to ensure reliable financial reports
00:45 – 3. Pay attention to market data
00:56 – 4. Build strategies with a growth mindset
01:06 – Invest in software to streamline your property lease management strategy
#propertymanagement #IFRS16 #GASB87