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Occupier has proven to be a valuable solution for accounting teams seeking to improve efficiency and compliance with lease accounting …
Overview
What is Occupier?
Occupier, headquartered in New York, offers software used by commercial tenants to maintain compliance with lease accounting standards, manage real estate leases, and execute lease transactions.
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What is Occupier?
Occupier, headquartered in New York, offers software used by commercial tenants to maintain compliance with lease accounting standards, manage real estate leases, and execute lease transactions.
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Product Details
- About
- Tech Details
What is Occupier?
Occupier offers software used by commercial tenants to maintain compliance with lease accounting standards, manage real estate leases, and execute lease transactions.
Real estate is typically the second largest expense for a business next to payroll, yet the technology used to manage it is no more sophisticated than spreadsheets and email. This leaves companies vulnerable to multi-million dollar risk due to missed lease obligations, slow decision making and misinformed real estate strategy. Occupier offers automated workflows to enable companies to ensure compliance, mitigate risk and make more informed decisions that align with key business initiatives.
Capabilities
Real estate is typically the second largest expense for a business next to payroll, yet the technology used to manage it is no more sophisticated than spreadsheets and email. This leaves companies vulnerable to multi-million dollar risk due to missed lease obligations, slow decision making and misinformed real estate strategy. Occupier offers automated workflows to enable companies to ensure compliance, mitigate risk and make more informed decisions that align with key business initiatives.
Capabilities
- Lease Administration - Manage critical dates, analyze financial obligations and digest a portfolio’s real estate analytics
- Lease Accounting - Recognize every lease, generate journal entries, and close the books.
- Transaction Management - Brings the broker and real estate team together to collaborate with tasks, track all documents, and analyze real estate comp data.
- Broker Deals CRM - Get more deals to the finish line by bringing brokers, tenants and external stakeholders together to collaborate on the entire deal life cycle from search to close.
Occupier Videos
Lease Administration by Occupier
Lease Accounting by Occupier
Broker Deals by Occupier
Occupier Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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- Pros
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Occupier has proven to be a valuable solution for accounting teams seeking to improve efficiency and compliance with lease accounting standards. With its lease accounting and reporting capabilities, users have found that Occupier simplifies the organization of leases by providing easy access to critical dates, clauses, and financial information. This eliminates the time-consuming task of navigating through folders and improves overall productivity. By automating complex calculations and ongoing journal entries required for ASC 842 compliance, Occupier saves users substantial time and effort. Additionally, Occupier enhances visibility and decision-making by tracking critical lease dates and providing a comprehensive outlook of real estate portfolios, including a map view. This centralized platform helps teams stay organized, streamlines processes, reduces redundant reporting, and assists in complying with lease accounting rules. With Occupier, businesses can consolidate databases and track facility costs in one place, improving organization and efficiency. The software also serves as a central hub for contracts, reminders, and implementing lease accounting rules across different countries and currencies.
Furthermore, users have noted that Occupier bridges the gap between real estate and lease accounting functions, ensuring consistent and accurate information flow between departments. Its clean layout eliminates the need to track information through Excel, improving productivity. Occupier also solves the problem of creating ease of access for information while avoiding the loss of documents due to account deactivation. This makes it particularly useful for private companies with significant portfolios who can easily track rents, key provisions, and receive notifications about their portfolios through the system. The tagging feature in Occupier facilitates streamlined communication and task completion among team members. From an accounting perspective, the implementation of new accounting standards becomes easier with Occupier as it removes guesswork and provides a centralized way to store leases and associated documents. Moreover, Occupier serves as a source of validity for tracking critical dates, solving portfolio tracking issues for real estate teams. Overall, Occupier enhances collaboration among cross-functional teams involved in property review before final selection, reducing reliance on busy real estate teams and improving transaction efficiency and communication.
Clean and intuitive platform: Users have consistently praised Occupier for its clean, well-organized, and intuitive platform. Many reviewers have stated that the user-friendly design enhances their overall experience with the software and allows for efficient lease management.
Customizable fields: The ability to edit and create custom fields in Occupier is highly valued by users. This feature enables them to provide more information to their company and tailor the platform to their specific needs. Several reviewers have mentioned how this customization enhances the usefulness of Occupier.
Efficient lease breakdown: Users appreciate how Occupier breaks down each lease into components, making it easier for them to find specific clauses without having to search through pages. This feature saves time and effort, improving productivity. Numerous reviewers have highlighted this aspect as a valuable time-saving feature of Occupier's platform.
Limited Mapping Capabilities: Some users have expressed that Occupier's mapping capabilities are limited and not suitable for large portfolios requiring richer functionality.
Manual Data Entry: Users have mentioned that the software does not provide comp data automatically from services like Costar, resulting in the need for manual entry.
Lack of User-Friendliness: Several users have found the user interface of Occupier to be less intuitive than desired, often requiring them to seek assistance on how to navigate and complete certain tasks.
Users have made several recommendations based on their experience with Occupier:
Thoroughly gather and submit all necessary documentation. It is recommended to be meticulous in collecting and submitting portfolio documentation, rent invoices, and other relevant information. This ensures that Occupier can effectively manage multiple properties across a broad geography.
Utilize all functionality and reach out to the Occupier team. Users find that making full use of all the features offered by Occupier is beneficial. The platform provides actionable insights quickly, particularly for smaller or midsized companies. Users also suggest reaching out to the Occupier team for any questions, suggestions, or assistance needed.
Consider other options and involve relevant departments. While users express satisfaction with Occupier, they recommend exploring other options in the market before making a final decision. They advise involving the accounting team and considering how various departments can benefit from a single platform like Occupier. This ensures that the chosen solution aligns with the company's requirements.
Overall, users recommend giving Occupier a try to see if it fits their company as it is user-friendly and saves time in managing leases and transactions. However, it's important to thoroughly evaluate alternatives, involve relevant departments, and leverage the support provided by the Occupier team throughout the process.