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| Products > ARGUS Office Escalations |
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Escalations Made Easy
Calculating and billing operating expense escalations for an office building is a difficult job. To comply with lease agreements, escalation calculations need to be both accurate and consistent. Otherwise, building owners and tenants will suffer economically and the trust between them will be lost.
Typical accounting software is not flexible enough to capture all types of lease language related to escalations. Additionally, in-house Excel schedules are error-prone, mask formula problems, and can ultimately create more problems for property accounting and property management.
ARGUS Office Escalations uses BOMA International's approved methodology for calculating escalations. Using this product will result in fewer audit problems because of its standardized formatting and formulas. The software works for thousands of different leases and is designed to be user friendly.
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- Spend less time creating and maintaining cumbersome spreadsheets and shorten your accounting cycle times
- End searching for formula errors
- Stop re-entering data from year to year by carrying forward data
- Be confident and prepared for lease audits -- retains each year's data permanently, which can be used for prior years' audits or transferred to the next building owner
- Use BOMA International's approved methodology
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- Automate the entire escalation process, from calculations to billings and cover letters to tenants, for both pre-billing and for year-end reconciliations
- Accurately and consistently calculate escalations including gross ups, capital amortizations, expense pools and expense caps
- Accepts any chart of accounts, an unlimited number of leases and expense pools, and accommodates virtually any lease escalation clause
- Store prior years data for future reference or transfer
- User-friendly, works with any standard Windows-based PC, laptop or server and is flexible enough to accept any owner's chart of accounts
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- “[ARGUS Office Escalations] has removed all of the apprehension from performing the annual true-ups. They are now fast, accurate and never disputed. They have been commended by the auditors themselves.“ – Karrie S. McCampbell, CPM, SVP, Management Services, Transwestern
- “The software has become an essential part of our accounting business cycle. It has improved our operating expense pass-through process and we highly recommend using it for CAM Estimates & Reconciliations.” – Ann-Marie Douglas, Assistant Regional Portfolio Manager, Equastone Real Estate Investment Advisors
- “We used to rely on Excel spreadsheets for our escalation billings. The [ARGUS Office Escalations] software is much more dependable, since formulas can't be changed. It's fast: Year 2 was a breeze, since we only had to input changes. And using BOMA's standards makes our tenants really comfortable.” – Brett Williams, Property Manager, Thomas Property Group
- “The software is great and easy to use. Makes reconciliations much easier.” – Carol Sapstead, Property Manager, Lincoln Property Company
- “I like the invoices for tenants. The breakdown and format are very clean and understandable. The program makes it easy to verify any caps on expenses or gross-up calculations – and there are fewer human errors.” – Karen Bray, Property Manager, Lincoln Property Company
- “We've achieved greater consistency in our year-end reconciliation's, gross-up calculations and our tenant pre-billings. The software easily works with gross and triple-net leases, multiple-expense pools and detail reporting.” – Paul Noetzel, Associate Director, CB Richard Ellis, Austin, Texas
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