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Lease Harbor LLC celebrates 17th anniversary, creates all new system

March 27, 2017

CHICAGO, March 27, 2017 -- In March 2000, Lease Harbor LLC began developing our groundbreaking web-based lease administration and lease accounting software. Seventeen years and more than 10,000 users later, we are now implementing clients on Apex - our all-new, third-generation system.

Since inception, we’ve prided ourselves on being a company of "firsts". Lease Harbor, our eponymous first-generation system, was the first full-featured, web-based lease administration system with a low-cost subscription pricing structure. We were the first web-based lease administration solution to offer financial system integrations for our clients. We were the first to roll out accurate straight-line expense functionality and SOX reporting. We were the first (and remain the only) company in our industry that focuses solely on software and engineering and not lease abstracting services.

After the 2011 lease accounting preview release in our industry-leading Harbor Flex system, Lease Harbor LLC embarked on a multi-year investment and development effort to build our third-generation system, Apex. The result is another industry first. Apex is the first lease accounting solution that handles accounting throughout the entire life cycle of a lease, including the impact of ongoing changes to the portfolio that occur over time.

Apex allows users to effectively manage real estate transactions, transfer transaction data to the finalized lease commitment, calculate present values, generate amortization schedules, and calculate/export journal entries as well as the adjusting entries resulting from re-measurement, impairment, or late or inaccurately entered base data. Unlike many competing software systems, Apex is working software, not just a roadmap.

Apex is built from the ground-up on an all new architecture. By utilizing current technologies, Apex provides the longevity that our clients demand. By starting from scratch, we were able to design Apex to be even more customizable than both of our preceding systems. Apart from comprehensive lease administration and related accounting functionality, Apex has many other new features:

  • Advanced accounting with higher levels of transaction control and approval authority.
  • Configurable screens and widgets.
  • A new integrated search and reporting model.
  • A new user security model for easier administration with increased auditability.
  • A new project management module with workflow, task management, and email integration.
  • An advanced customization model for addressing client-specific needs.
  • The ability to easily upload or update bulk data.

By keeping our primary focus on software engineering as we have done for the last seventeen years, we have been able to bring Apex to fruition, providing our clients with a complete solution that will serve them well into the future.

About Lease Harbor

Since 2001, Lease Harbor has been the market leader for online lease administration and lease accounting software. Our system is used by more than 850 organizations worldwide to organize and manage real estate portfolios ranging from 100 to 40,000 leases. For more information and to find out how Lease Harbor LLC can help your organization, please visit the company’s web site at leaseharbor.com.

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