Excel is OK for Managing Leases. Until it Isn’t.

For franchisors with an expanding list of locations, managing your real estate portfolio is more critical than ever. Mismanaging dozens, hundreds, or thousands of leases can jeopardize your business’s financial health and operational efficiency. Issues like missing renewals, being forced to move, overpaying on Common Area Maintenance (CAM) charges, or lacking a clear overview of your lease obligations can lead to significant financial losses and operational disruptions.

Common Risks in Real Estate Management

Many multi-unit operators rely on Excel spreadsheets and calendar reminders for lease management. While this might work initially, it quickly becomes overwhelming as the number of locations grows, each with different renewal dates and obligations.

Risks of Poor Management of Leases

Imagine managing dozens or hundreds of leases, each with unique terms, renewal dates, and financial obligations. Missing a renewal option or overlooking an escalation clause can lead to significant financial losses and operational disruptions. The more complex your lease portfolio, the higher the risk of mistakes.

The Limitations of Excel

Relying on Excel for lease management is like trusting your business to duct tape. While Excel is powerful for basic data management, it falls short for complex leasing administration:

• One Typo Away from Disaster: A single misplaced digit can cost you a location. Excel errors are more common than you think.
• Tax Tracking: Are you meticulously tracking common area service charges and taxes, or just paying whatever bill comes at the end of the month, quarter, or year? Overpayments can bleed your budget dry.
• Data Loss: Excel files are prone to corruption and loss. Can your business afford to lose crucial lease data?
• Lack of Visibility: Excel doesn’t provide real-time updates. Are you making decisions based on outdated information?
• Human Error: The more manual entries, the higher the risk of mistakes. Is your team equipped to handle the complexities without error?

Benefits of a Dedicated Platform for Managing Leases

This is where Leasecake comes in. Our proprietary software is designed specifically for franchise operators, providing a comprehensive solution to ensure you never miss a critical date or overpay on shared maintenance costs. With Leasecake, you can mitigate risks, streamline operations, and focus on growing your business.

Key Features:

• Automated common area service charges & Tax Tracking: Ensure you’re only paying what you owe.
• Real-Time Data: Make decisions based on the latest information. Leasecake manages any location-based document, not just leases, providing 24/7 access for your entire team.
• Proactive Reminders and Tasks: Automated processes and checks reduce the risk of human error, ensuring your team knows what needs to be done and when.
• AI Tools: Cakebot, our AI tool, acts as your 24/7 real estate assistant, searching across multiple documents to find answers to your lease and location questions.
• Mobile Availability: Access Leasecake on mobile 24/7, ensuring you always have access to your data.

Case Study: Anna Management and Dunkin’

Anna Management operates 102 Dunkin’ locations and has successfully managed the complexities of multiple leases, real estate contracts, and back-office operations with Leasecake.

Dipak Patel, CEO of Anna Management, states:

“Leasecake has been a game-changer for us, providing a clear overview of our entire portfolio and helping us keep track of critical lease dates, which has allowed us to stay proactive and avoid costly mistakes.”

See Leasecake in Action

Ready to see Leasecake in action? Watch our 2-minute demo, or contact us to request a demo. Let us help make managing your business a piece of cake.