Name: CoStar Real Estate Manager
Rating: 5.5 (15 reviews)
Author: CoStar Group

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Enterprise

Accounting

CTRM

Cryptocurrency Mining

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SaaS Spend Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Corporate Volunteering

HR Compliance

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Payroll

Recruitment Agency

Succession Planning

Talent Intelligence

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Workforce Analytics

Workforce Management

Human Resources

API Design

Cloud Data Warehouse

Cloud Storage

Container Management

DevOps

Fraud Detection

Hadoop-Related

IT Alert Management

Incident Response

Integrated Development Environment (IDE)

Integration Platform as a Service (iPaaS)

Mobile Data Security

Network Access Control (NAC)

Network Performance Monitoring

Phishing Detection and Response

Relational Database Management Systems

Requirements Management

Tower Servers

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Conversion Rate Optimization

Customer Loyalty Program

Digital Experience Platforms (DXP)

Email Marketing

Location Intelligence

Marketing Automation

Personalization Engines

Product Management

Social Media Management

Survey & Forms Building

Web Analytics

Marketing

AI Meeting Assistants

Email Signature

Project Management

Professional Services

Customer Relationship Management (CRM)

Sales

Automotive

Geographic Information

Hotel Management

Insurance Claims Management

Law Practice Management

Mental Health

Multiple Listing Service (MLS)

Pharmacy

Telemedicine

Vertical-Specific

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### Accounting and Finance
Users generally agree that CoStar Real Estate Manager excels in lease accounting and finance capabilities. The tool is praised for its user-friendly interface, automated accounting processes, and detailed reporting features. However, some users have expressed concerns about the complexity of certain functions and the need for additional system training. Despite these minor drawbacks, CoStar Real Estate Manager is widely regarded as a reliable and efficient solution for managing accounting and finance tasks related to leases.

### Payments and Financial Transactions
Users generally appreciate CoStar Real Estate Manager's efficient handling of payments and financial transactions. The platform's ability to centralize records, streamline rent payments, and provide a robust reporting tool has been well-received. However, some users have expressed a desire for more system trainings, particularly on topics like annual payments. While the software excels in addressing critical issues promptly, it may be slower in responding to security or audit-related inquiries. Despite some challenges with integrating payment automation, users find that CoStar Real Estate Manager significantly aids in database management and compliance with financial reporting standards.

### Compliance and Standards (ASC 842, GAAP, SOX
Users consistently highlight CoStar Real Estate Manager's robust compliance and standards capabilities, particularly in ASC 842 reporting and GAAP adherence. The platform's user-friendly interface and advanced internal controls have garnered positive feedback, making it a reliable choice for businesses seeking to meet SOX requirements. While some users note occasional delays in support ticket responses, overall, CoStar's focus on compliance and standards remains a strong suit according to user reviews.

### Lease Management
Users generally praise CoStar Real Estate Manager for its robust lease management capabilities. The platform is commended for its ease of use in uploading new leases, automating lease accounting and amortization schedules, and providing centralized records for streamlined operations. However, some users express minor frustrations with the platform's reporting complexity and the lack of certain customization features, such as grouping similar lease equipment in reports. Despite these minor drawbacks, CoStar Real Estate Manager is widely regarded as a valuable tool for efficiently managing leases across various property types.

### Property Listings and Tenant Management
Users generally appreciate CoStar Real Estate Manager's comprehensive approach to managing commercial real estate listings and real estate portfolios. While the platform offers a wide range of features for property listings and tenant management, some users have expressed concerns about the reliability of listing information due to potential inaccuracies or omissions by brokers. Despite this, many find the performance reporting feature to be a valuable tool for evaluating property performance. Cold calling remains a necessary practice for some users, with CoStar Real Estate Manager serving as a helpful resource for gathering preliminary information before reaching out to potential tenants.

### Real Estate Portfolio Management
While some users appreciate the diverse features that CoStar Real Estate Manager offers for commercial real estate tasks, others find its real estate portfolio management capabilities to be lacking in certain aspects. The platform's ability to streamline CRE data search, market statistics creation, and listing promotion in a centralized location is acknowledged, but there are concerns about its effectiveness in managing real estate portfolios efficiently. This mixed sentiment suggests that users have varying experiences with CoStar Real Estate Manager's real estate portfolio management functionality.

Based on user reviews, here are the common recommendations for CoStar:

1. Implement a designated person in the office to regularly check and update the account. This ensures effective utilization of the software and maintains accurate and up-to-date data.

2. Utilize customer support for further verification and assistance. The professional guidance provided by CoStar's customer support helps address any issues or questions users may have, enhancing their overall experience.

3. Request a trial of CoStar to ensure that the cost of the product is beneficial for specific needs. This allows potential customers to evaluate the features and functionality before making a commitment, enabling an informed decision-making process.

In conclusion, users find CoStar easy to use and appreciate its top-notch data and services. While it is considered an industry standard and a necessity, some users express a desire for CoStar to listen more to industry feedback and make desired changes accordingly.

High Pricing: Many users have expressed dissatisfaction with CoStar's pricing, finding it more expensive compared to similar products in the industry. Some users have even mentioned that the cost of CoStar is a major setback, leading some companies to cancel their subscriptions and switch to other services.

Inaccurate Information: Some users have mentioned concerns about the accuracy and timeliness of the information provided by CoStar. They note that not all information is up to date, and sometimes brokers do not update listings or purposely leave off information. Users have also found conflicting information on the same property across different pages, which can be frustrating.

Difficult Navigation: Users find the software difficult to navigate without proper training and had to spend time exploring the software to find desired information. The user interface of the software seems to be a common complaint as well. Users mention that it is difficult to use and takes a long time to learn how to navigate properly.

User-Friendly and Intuitive Interface: Many users have praised the CoStar tool for its user-friendly and intuitive interface. Several reviewers found the tool to be easy to use, navigate, and manage from an admin standpoint. The simple layout and exciting search capabilities further enhance the user experience.

Reliable Internal Controls and Advanced Features: Reviewers have commended CoStar for its proper design with reliable internal controls and advanced features. This makes the tool highly customizable according to specific business needs, providing a sense of reliability and confidence in its functionality.

Centralized Records for Organization: The centralized records feature in CoStar has been appreciated by users as it helps keep organizations organized and on track. With this feature, multiple teams can stay on the same page, ensuring smooth collaboration and efficient workflow management.

CoStar has proven to be an invaluable tool for organizations looking to address the challenges of implementing new lease accounting standards. Users have found that the software provides lease management and proper accounting capabilities, allowing for compliance with lease standards. With CoStar, users have better control and tracking of all applicable leases in their organizations, enabling them to retrieve lease amortization schedules in their desired reporting format. The software has also streamlined the management of leases and interfacing of invoices with ERP systems, resulting in improved lease management and accounting processes.

The centralized nature of CoStar has been praised by users, as it allows them to store all lease records, including payments, maintenance history, and reminders, in one place. Not only does this eliminate the need for manual calculations of lease amortization schedules, but it also facilitates troubleshooting issues such as discount rates. CoStar also assists in calculating various lease liability balances and automatically adjusts for changes in lease clauses. Additionally, the software provides notifications for lease renewals and aids in audit disclosures, ensuring compliance with ASC 842 accounting and lease cycle management.

Beyond its accounting capabilities, CoStar offers a wide range of functionalities that cater to real estate professionals. It is used for portfolio management, lease administration, document management, planning, scheduling, reconciling maintenance requests, and analyzing real estate data. The intuitive design of the software makes it suitable for the needs of accounting departments while providing valuable market knowledge to users. CoStar has been particularly beneficial when conducting initial due diligence in rural areas or unfamiliar locations by quickly reviewing properties and minimizing research time.

While there are mixed experiences with CoStar, with some users expressing concerns about accuracy, customer service, and pricing, many have found the software to be indispensable in their day-to-day operations. Brokers appreciate being able to keep track of building information, store marketing documents, analyze data, and efficiently conduct surveys and tours for clients. Overall, CoStar has proven its worth as a comprehensive solution for lease management, accounting compliance, and real estate analysis.

BrokerMint

Brokermint

CoStar Real Estate Manager

Real estate property management software helps property managers and real estate owners manage commercial and residential rental properties with capabilities such as online applications and lease agreements, vacancy posting, rent collection, maintenance cycles, and tenant screening.

Real Estate Property Management

Likelihood to Recommend

CoStar Group

Compass MLS

Realtor

CoStar Real Estate Manager 2022-04-20 14:21:34

Dropbox

DocuSign

Dropbox Business

Skype for Business / Lync (discontinued)

Skype (discontinued)

Client Services Specialist

COSTAR 2018-03-09 14:59:19

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There is literally not one good thing that I can say about CoStar. They charge my card $450/month because I signed a one-year contract. They provide very little data and properties and most of the time it is inaccurate. Their customer service is atrocious. They overpromise, underdeliver. STAY away from using Costar!

CoStar is used across our entire company as a research and multiple listing tool (MLS). It allows us to keep track of building information regardless of who the listing agents/owner/managers are. We can store marketing documents for public distribution and confidential back-end data for our own in-house analysis.

For my role within the company, I find CoStars database of historical information very helpful. Previous users, owners, financing lien holders, tax information and county data are things I look for on a daily basis.

In our market (Portland, OR), not enough users implement the tools that could make CoStar so much better. For example, I specialize in medical but brokers and owners don't take the time to mark medical as an approved use in their buildings so I have to search much longer and cross-reference the data by contacting the brokers directly.
I find it really annoying that when I download documents CoStar doesn't use smart technology to automatically name my files. It is especially irritating since every piece of marketing we post to CoStar has a relevant file name yet when we download the same file we have to rename it.

Since CoStar has linked with LoopNet we have had fewer bad data calls. By which I mean old data from LoopNet that was available to the general public is now more regularly updated through CoStar so we have less confusion with our clients.

Skype for Business, Dropbox Business, DocuSign

CoStar Real Estate Manager

Overview

What is CoStar Real Estate Manager?