CRE Occupiers (12)
2021 has started with more uncertainty than many had hoped for despite the development of multiple COVID-19 vaccines. The spread of new, more transmissible variants of the coronavirus has left many who were looking forward to a return to the office now facing further doubts and fresh restrictions aimed at controlling the pandemic while the … Continued
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When the Coronavirus pandemic first led businesses around the globe to close offices at the beginning of 2020, few would have expected that so many people would still be working remotely at the end of the year. But despite ongoing uncertainties and restrictions, the future is certainly looking brighter each day, especially as the rollout … Continued
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During 2020, many commercial office buildings faced an unexpected challenge: empty offices. The pandemic created a sudden shift to remote working, which will likely continue even after vaccines become more widely available. Businesses of all types are reevaluating their use of office space, and as a result, the relationships between commercial landlords and tenants are … Continued
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IFRS 16 Leases IFRS 16 Leases was issued in January 2016 to better manage the lessee accounting model. Essentially, IFRS 16 retains the finance and operating lease distinction for lessors but lessees are now required to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset … Continued
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In this article, we look at GASB vs FASB and highlight the major differences between the GASB 87 and ASC 842 lease accounting standards. It is not intended as a comprehensive listing of all contrasting points. It likely came as good news for state and local government accountants that the Governmental Accounting Standards Board (GASB) … Continued
The post GASB vs FASB: The key differences between new US lease accounting standards appeared first on MRI Software.
Space planning, occupant comfort and cost-cutting are biggest drivers in commercial real estate – even before COVID-19
There is little doubt that COVID-19 and lockdown have had a profound and lasting impact on how commercial tenants are viewing their real estate. The devastating global economic impact of the crisis has left a huge proportion of corporate occupiers looking for ways to control and even slash costs – whether retailers struggling with shuttered … Continued
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COVID-19 has dramatically accelerated trends in office space planning. Work from home practices were already impacting the modern workspace before the pandemic, but now, organizations eager to bring employees back into stable and sustainable work patterns are rethinking office space. As a post-COVID office environment draws near, a key consideration for business leaders will be … Continued
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The COVID-19 pandemic has created uncertainty in nearly every aspect of our lives. But, for those managing real estate, your CAFM (computer aided facility management) software can help provide some clarity. Now more than ever, it’s imperative that your company has accurate, real-time information about costs, space requirements, remote workers, and asset management. Think about … Continued
The post Using CAFM software to reduce your real estate costs – the 15 key questions you should be asking appeared first on MRI Software.
Private companies looking to transition to the new lease accounting standards may be in for a rough ride if they rely on spreadsheets. The deadline for compliance with FASB ASC-842 isn’t until December 2021, but considering that transition efforts shouldn’t be left until the last minute, some companies may already be looking at their spreadsheet-reliant … Continued
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Commercial tenants and landlords have spent their year adapting to the challenges of the pandemic. As stores, restaurants, and other commercial venues shuttered, lease terms and conditions had to be renegotiated and some rent payments needed to be deferred. The question remained: how were these concessions supposed to be recorded on a balance sheet? FASB … Continued
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This article was written by Philip Lehrman, MRI Software. Every business has been affected in some way by the COVID-19 crisis. Successful businesses will see this as an opportunity to re-imagine their workplace and adapt to changing times. Space management software is an essential tool to help manage costs during normal business cycles, but it’s … Continued
The post Using space management software as a tool post-COVID-19 appeared first on MRI Software.
Automating leasing and the lease abstraction process can enable commercial real estate firms to better manage data across the business and effectively integrate data across multiple systems. Today, as the commercial real estate industry navigates uncertain times due to the COVID-19 pandemic, one thing is certain: continuing to rely on what worked yesterday no longer … Continued
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