Accruent acquired Lucernex in 2017 to boost its IWMS or asset management portfolio. Lucernex Lease Administration & Accounting is a real estate lifecycle management platform emphasizing compliant financial contracts and accountancy.
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OneSite Leasing and Rents
Score 8.0 out of 10
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RealPage, headquartered in Richardson, offers OneSite Leasing and Rents, the company's end-to-end property management solution which is fully customizable with a suite of modules available supporting accounting and budgeting, facilities management, document management, employee LMS, and other features.
I believe Accruent is well suited for companies with a large amount of leased assets that need to be accounted for under the new accounting standard. Companies with fewer leases would not need an intricate tool of this size. It is suited for both real estate and equipment leases, which makes up the entirety of our portfolio.
OneSite Leasing and Rents is great for a decent-sized portfolio for all property management industries. While I currently use it for the Student Housing sector, I could see it doing the same functions in a Conventional and/or Senior space. I would not say OneSite is suitable for small property management businesses.
Lucernex does an excellent job of listening to its customers to continue enhancing the product to make it the best in the industry and to continue to partner with their customers on this endeavor.
Lucernex's product is an intuitive product that allows its end users to customize and manager their own fields and pages to tailor individual company's needs.
Limited accessibility - Various functions are only available through Internet Explorer.
Reporting errors - Lately OneSite has experienced several errors within their reporting that have taken a decent amount of time to where it is affected business operations.
Customer service - OneSite's general customer service line could use some overall improvement in the process it takes to resolve routine issues.
The support could use several improvements overall. Often times the agents you are speaking to go through a really slow and tedious troubleshooting process and when you attempt to explain what you've already tried, they still insist you begin at the beginning. The support you get doesn't always match the problem you are trying to solve and they have no online chat option available which is difficult when trying to resolve an issue and not having the time to spend on hold on the phone.
The trainers were knowledgeable and engaging in presenting the materials, and their emphasis on important concepts was helpful (I would rate the trainers themselves a 9!). However, I do not believe there's anything we learned in the in-person training that could not have been taught via live web-classroom. Traveling a significant distance (in our case) to Austin, TX for only approx. 12 hours in the classroom was (in my opinion) not necessary, since the same material could have been presented via live web-classroom and saved us the expense and travel-time. I would encourage Lucernex to consider moving to a live web-classroom format in the future; an online live format would still allow for participation and questions from the participants while saving clients' time and money
I cannot recall exactly what other products we reviewed before choosing Lucernex, but one of the leading factors was how highly customizable the software was. We had previously been using Retail Lease which was an older program with buckets of data stored everywhere. During the data mapping process, we were able to easily find a home for all of this "random" data
I have only ever used a company made software and Yardi (for a short time). So I'm not too familiar with other software applications. However, in my experience, they all seem to operate very similarly. Most of the reporting and basic functions need to be universal for daily operations. Outside of that, I feel each has an equal amount of pros and cons to their software.
Lucernex was able to complete our business objective to manage and process all of our Lease Accounting entries within the software.
Lucernex has enabled all of our departments to become better connected, work together to create synergies and transparency to better meet business objectives.
