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Imagine you’re a business owner who has leased a commercial property to operate your business. After a few months, you receive a notice of lease violation from your landlord stating that you’re in breach of the lease agreement. You’re surprised because you thought you were following all the terms and conditions outlined in the lease.
One such audit is the critical audit matter (CAM) audit, which has its own set of pros and cons. In this article, we will explore everything you need to know about CAM audits, including their benefits and drawbacks, and how collecting and using real estate data can be affected by this type of audit. What
As a real estate company, keeping accurate accounting records is crucial to your success. Accurate financial statements provide insights into your business operations and help you make informed decisions about where to invest and grow. However, real estate accounting can be complicated, and without proper guidance, it’s easy to make mistakes that could lead to
Lease abstraction is a fundamental process in the real estate industry, providing a concise summary of vital lease terms, clauses, and relevant data extracted from original lease contracts. It greatly facilitates the review, assessment, and execution of leases for property managers and landlords. While lease abstraction simplifies lease management, the extraction process can be labor-intensive
Are you struggling to keep track of your leases and their terms? Do you find yourself buried under piles of paperwork and endless spreadsheets? If so, it’s time to gain a clear understanding of the lease administration process. In this article, we will provide an overview of the lease administration process and explain how Springbord
As a real estate company, Springbord understands the importance of knowing how to calculate lease liability. Whether you are a tenant or landlord, it is crucial to have an understanding of lease accounting principles to accurately calculate your lease liabilities. In this blog, we will discuss the basics of operating leases and the accounting standards
Springbord is a service-providing company that assists businesses in managing their real estate portfolios effectively. One of the critical aspects of managing a real estate portfolio is lease administration. This is a time-consuming process that involves tracking lease agreements, and payments, and ensuring compliance with regulations. Many businesses are turning to outsourcing lease administration services
Lease abstraction is the process of summarizing complex lease agreements into a standardized format. Lease abstraction automation has become an essential part of real estate portfolio management, as it helps businesses manage their leases efficiently and effectively. With the advancement of technology, automated lease abstraction has become increasingly automated and streamlined. In this article, we
The real estate market is just one area that has been severely impacted by the COVID-19 pandemic. As a leading real estate service provider, Springbord has been closely monitoring the effects of the pandemic on the real estate industry. In this article, we will examine the key trends and insights shaping the real estate market
Springbord is a leading service-providing company that specializes in helping businesses manage their real estate portfolios efficiently. One of the most crucial aspects of real estate portfolio management is lease administration. Effective lease administration requires a thorough understanding of regulations, contracts, and financial analysis. In this article, we will discuss best practices for lease administration