The latest release of Nakisa Real Estate (NRE) software, version 2023.R2, takes commercial real estate management to new heights. With an array of powerful features designed to streamline lease administration and property management, this update offers real estate teams enhanced tools to manage everything from CAM and reconciliation to multi-currency support.

Key Features in the NRE 2023.R2 Release

Nakisa Real Estate 2023.R2 introduces a set of robust capabilities that simplify complex commercial real estate processes. The highlights of this release include a comprehensive document management system, flexible CPI indexation, advanced reporting options, and better multi-currency handling, among others. Let’s dive into how these features improve the user experience and the efficiency of real estate management teams.

Virtual Library: Centralizing Lease Documents

Managing paperwork is one of the biggest challenges in commercial real estate. NRE’s new Virtual Library feature addresses this by providing a centralized location for all documents related to each lease. Users can easily access, tag, and track documents, even identifying missing files. The library allows for quick linking of date-specific documents, ensuring fast retrieval when needed, especially during audits. Additionally, files can be exported for offline use, giving users more flexibility.

Flexible CPI Indexation: Adapting to Inflation

Adjusting lease agreements to keep up with inflation is a necessity. NRE 2023.R2 introduces a flexible CPI (Consumer Price Index) indexation tool, which allows users to apply indexation to individual contracts or even specific expense categories within a lease. The new Mass Indexation module makes it possible to apply indexations across multiple contracts in bulk, ensuring consistency and reducing manual work. This feature also allows for different indexation rates for base rent and other expenses like common area maintenance (CAM), all while ensuring compliance with IFRS 16 and ASC 842.

Multi-Currency Support: Managing Global Leases

As businesses expand globally, dealing with multiple currencies within a single lease is increasingly common. NRE’s multi-currency support allows users to specify different currencies for various components of a lease, such as base rent and CAM. This flexibility makes it easier to manage international leases, ensuring that currency conversions are handled automatically for accurate reporting and compliance with accounting standards like IFRS 16 and ASC 842.

Dynamic Reporting and Dashboards: Custom Reports at Your Fingertips

Real estate managers need the ability to generate reports that reflect the unique needs of their organization. NRE offers customizable, dynamic reporting tools that allow users to filter and generate reports with user-specific data. The dashboard feature enables real-time analytics and visualizations of entire property portfolios, offering both global and asset-level reporting. This flexibility is essential for making quick, data-driven decisions. Additionally, NRE allows users to embed no-code scripts to create custom calculations, further enhancing its reporting capabilities.

Financial Obligations Reporting: Tracking Financial Impact

The new Financial Obligation Report is a crucial feature that provides clear insights into the financial impact of expenses on leases. This tool breaks down expenses by vendor, period, and lease, making it easier for users to understand the financial details and track obligations. The report is especially useful for budgeting and expense planning, offering greater transparency for financial decision-making.

Operating Expense Provisions and Reconciliation: Simplifying Complex Calculations

NRE 2023.R2 improves how operating expenses like CAM are handled. The new system allows for better management of provisions for operating expenses, including the ability to reconcile these provisions with actual costs through vendor invoices. By automating the reconciliation process, NRE simplifies the task of comparing provisioned, invoiced, and adjusted expenses. This helps reduce errors and ensures accurate year-end processes with landlords.

Percentage Rent Calculation: Automating Complex Scenarios

For many commercial leases, percentage rent is a key component. NRE makes it easier than ever to calculate percentage rent by automatically incorporating sales data and applying business rules based on specific thresholds and break-even points. The software allows for the creation of complex scenarios with multiple sales categories, both natural and artificial break-even points, and can even incorporate advanced calculations such as If, Average, and SumProduct scenarios.

Sub-Leasing Support: Managing Subleased Spaces

With the rise of flexible office spaces and sub-leasing arrangements, NRE now offers enhanced support for managing sub-leases. Real estate managers can track subleased areas within a larger property, keeping track of square footage or square meter allocations. This feature improves efficiency by providing a more granular view of sub-leased spaces, making it easier to manage and report on these parts of a lease.

Conclusion

Nakisa Real Estate 2023.R2 is a comprehensive solution for managing the complexities of commercial real estate. With features that improve document management, automate calculations, streamline reporting, and support global operations, this release helps real estate professionals handle their tasks with greater accuracy and efficiency. By providing tools to manage inflation, multiple currencies, and complex lease scenarios, NRE empowers businesses to optimize their real estate portfolios and improve overall management.