What Is New in LseMod Commercial Real Estate Leasing Software.

If you have not seen LseMod lately, you haven't seen LseMod! Just like the Quicken you see today, is not the Quicken you saw 3 years ago, the LseMod you see today, is not the LseMod you saw in the past. Contact us and schedule a demo over the Internet, you will be surprised. Web Demo

We are always looking for ways to make our programs more useful to our customers. If you have suggestions, please contact us at sales@LseMod.com. Note: Since 1989 when LseMod was first written in Lotus 123, we have had at least one update every year.

What's New in LseMod V14?

(PMR) denotes a Product Modification Request that is the result of a customer request. THANK YOU to our customers who continue to make LseMod the best Lease Analysis software solution on the market!!!

– We tweaked the Management Summary comparing multiple properties on 1 page. Similar items are grouped and given a color heading. Check out the sample Management Summary reports for LseMod Tenant Rep or LseMod Pro. (PMR)

– In LseMod Industrial we added cubic capacity, calculations for cost/pallet, cost/door, and pallet capacity. (PMR)

– You can now delete linked files from LseSum so if you were comparing 4 buildings and one drops out, you can just delete the drop out building from LseSum. (PMR)

– We rearranged the costs in the Financial Summary Report to show costs that impact the Run Rate and One-Time/Project Costs. At the bottom of the Financial Summary report we compare Current vs. Proposed Run Rate costs and Space Leased, including a Variance and a V%. On the standard Management Summary Comparison Report we include the Comparison of Current vs. Proposed. (PMR)

– We added a report so P&L costs can be forecasted for up to 15 different Business Units/Cost Centers. The costs can be based on Head Count or Space Leased and the Costs themselves can be just the Run Rate or the total P&L Impact (Run Rate + One-Time Project Costs). (PMR)

– In LseMod’s Silver programs (e.g. Tenant Rep, Industrial, Landlord, Retail) we added an option to make the free rent Net or Gross. We also have adjusted the Concessions Impact of Free Rent so it will be correct if the Free Rent is Net or Gross. (PMR)

– Need to change the background color or change the color of the text – it’s all point & click in LseMod! We added the ability to point & click to change colors, e.g. from blue to dark green, (either Office 2003 or Office 2007 or your own custom colors) and highlight sections, you can even change the font color. It's all point & click! (PMR)

– We have included in all programs calculators for determining the blended rent, weighted average rent and blended space. (PMR)

– For our friends in Canada, we added the Net Effective Base Rent in addition to the Net Effective Rate, which we have had for years. Base Rent covers just the Base Rent whereas Net Effective RATE includes all costs. (PMR)

– To simply entering dates for rent increases and special expenses / credits, you can now use the lease month. Check it out, it’s really slick.

– If you need to know the amount of free rent needed to pay for the Tenant Improvement costs, or any other cost, use our Free Rent Calculator. (PMR)

– We added a section in LseSum summarizing Annual Base, Net, and Gross rents (Total, Avg. per Year, Avg per Yr / rsf. (PMR)

– In LseMod Buy, Condo & Purchase we replaced the ROE with the IRR and re-did the management summary based on requests and input from a CCIM instructor. (PMR)

– In LseMod Buy & Condo, we added the rent break-point and the purchase break-point to the Management Summary, e.g. given a purchase price, what does the rent need to be to make buying a better option than renting.

– We simplified how to add additional files from different LseMod or LseSum reports to an email file. Additionally, we added the ability to add an Internet link (e.g. link to broker profile, link to a building's web site) to the Table of Contents.

– Made Other Rents and Other Monthly Costs variable names that flow through to the LseMod reports and also can be shown on the LseSum reports. (PMR)

– We tweaked the program to include an option to flip a property (from a tenant's perspective), e.g. Purchase and immediately do a Sale Leaseback. (PMR)

– Ease of Use features include a link to check for upgrades, and GoTo Navigation on the Additional Inputs sheet in LseMod and on the Links sheet in LseSum. In the Operating Expense section we added a line item called "Cap Controllable Expenses".

– We are committed to making LseMod Pro the leading lease analysis software that is U.S. GAAP and FASB compliant. In 2009 we will adjust the program as necessary when, and if, the European Union and United States adopt a universal GAAP standard. In addition to the changes listed above (e.g. calculators, changing colors, lease year for data entry, etc.), LseMod Pro now includes the following:

What's New in LseMod V13?

– In LseMod Pro, Tenant Rep, Industrial, Landlord, Retail and Economic Development we have created a 1-page report that includes the financials and the assumptions. In v13 we give you multiple choices ( 4 ) on how to present an analysis since not all clients want or need the same analysis. Assumptions that are not used are hidden and do not show in the 1-page report. (PMR)

– In v13, you can add properties to the comparison at any time, and as many as you like. In a consulting assignment, we actually linked 20 properties to evaluate multiple scenarios. In the past, LseSum, the comparison component of LseMod, let you compare up to 100 properties, but you had to specify the number in the beginning of the comparison and you could not add a new property at a later date. That has changed. Add as many properties as you like, at any time, e.g. 3 weeks later when a new property become available. (PMR)

– Starting with version 12.7, all LseMod programs (there are 12) are Office 2007 compatible.

– Point & Click to add floor plans to the Management Summary report. Once added, click on the floor plan and drag it to see a larger view. (PMR)

– NEW - added to LseMod Tenant Rep, Industrial, Landlord and LseMod Pro. (PMR)

– NEW - added to LseMod Tenant Rep and LseMod Industrial. Calculates the cost of the LOC and includes a Burn Down provision. (PMR)

– NEW - users can easily create their own depreciation schedule for the Purchase or Construction. Perfect for GO ZONE depreciation and other segmented depreciation. LseMod Pro has had this feature since v11.

– In the 1-page report for LseMod Pro, Tenant Rep, Industrial, Landlord, Retail and Economic Development we have added a rent schedule showing all the changes in rent during the term. (PMR)

– In LseMod Tenant Rep, Industrial, Landlord, Retail, and Economic Development, we tweaked the calculations for Expansion/Subtraction of space. Using the Additional Inputs sheet, users can adjust the space leased by month at any time during the lease. In the past, we calculated the cost/sf for each year based on the year-end square footage. That's changed and now it is perfect and based on the weighted-average square footage leased each year! (PMR)

– Some users like to have their own custom format for reports. In LseMod Pro, Purchase, and Sale Leaseback we have included a blank report has been formatted to include the year the months leased so users can create their own report using the costs calculated in LseMod. The report is printable and email-able.

– We have added a graph comparing the NER, new formats for graphs that include a data table where appropriate, and in the LseMod Tenant Rep, Industrial, Landlord, Retail, and Economic Development, we have added graphs comparing the Annual Cost and the Cumulative Annual Cost. As with all graphs in LseMod, users can customize colors, fonts, tiles, etc. using the normal Excel commands.

– In the new 1-page report in LseMod Tenant Rep, Industrial, Landlord, Retail, and Economic Development, we have added another place to put pictures and floor plans. You can still add them on the left in a special column or you can add them to the top right of the report.

– In LseMod Buy & Condo we added a pre-programmed Goal Seek so users can click a button and automatically find what hypothetical rental rate would be the same as the NPV After Taxes for a Purchase. (PMR)

– In LseMod Landlord and LseMod Commission (our FREE commission program) we have added a Bonus Commission, e.g. $1.50/sf, and we have included the option when calculating Commissions using a sliding scale to amortize the free rent over the term. (PMR)

– Depending on the program, we have added commands (point & click) to hide line items such as NER, NPV etc. that may not be required for a specific analysis or a particular client.

– We had added additional 1-time costs in the Special Expenses/Credits section so you can easily include those unique costs and credits in your analysis.

– We have added an Agency Fee, e.g. commission. Typical in International transactions.

– We have added the ability to link a LseMod Tenant Rep analysis to LseMod Pro. That way, if you have done a Cash Flow analysis, but need to see it based on GAAP, you can just link the files and the link will fill-in the key assumptions in Pro.

– We just wanted to highlight some of the changes we thought would be of most interest.

What's New in LseMod V12?

– Added room at the top of all reports to include "Prepared by" and enough room to include your name, the firm's name, phone number, and other contact information. (PMR)

– Added Net Effective Rate calculations to all programs. It is the present value of the total occupancy cost (income in the case of LseMod Landlord) amortized over the term at the discount rate. This is the value used by Equity Office. Also, if you do not want to use the Net Effective Rate you can hide the calculations (default has them hidden). (PMR)

– Added calculations for an expansion so that if adding space during the term costs (e.g. rent, opx, etc.) are calculated based on the new space and a weighted average cost is calculated on a per square foot basis over the term.

– Upgraded the command to create an email file, prompts the user for a title, fills in "Prepared by" and even prompts the user to add logos to the title page/table of contents. In LseMod programs, added an automatic prefix so the sheet names will include the building's name. (PMR)

– Added a section that calculates the impact on rent of Free Rent (based on the NPV), the Landlord Construction Allowance, and there is space to include additional concessions. This is the amount rent increased due to concessions discounted at the Landlord’s estimated present value discount rate over the term. (PMR)

– Added a preprogrammed Goal Seek so you can easily find the Sale Price required to equal the NPV of the lease cost

– Added LseSum Buy so you can create Buy vs. Buy analysis, comparing up to 100 alternatives. (PMR)

– Added a parking calculator so you can enter the number/1000 sf and LseMod will calculate the parking spaces and fill in the value in LseMod.

– Separated Reserved and Unreserved Parking so you can have different costs, increases, and months of free parking. (PMR)

– Changed the calculation so you can use a fixed cost or a fixed cost/sf. If moving to 10,000 sf or 9,500 sf the cost is probably the same, but if based on $/sf it will be different.

– In LseMod Pro, created a 1 button command to change the timing of all costs to start with an Occupancy Date while rent accrual starts during Construction.

– In LseMod Pro, added additional tests for Bargain and Automatic Renewal Options.

– Added additional metrics for comparing Full Service lease costs, even if a lease is NNN; construction costs, including Landlord's part, in actual dollars in addition to existing $/sf. (PMR)

– Added NPV/sf before and after taxes to the management summary. (PMR)

– Added tips on how to use formulas to include costs of a $/rsf basis even if the input cell is based on actual cost, e.g. $10,000 vs. $2/rsf

– Totals, Annual Totals, and $/sf reports now show Yr 1, Yr 2, etc. and the date, e.g. 5/2007 - 4/2008. (PMR)

– Added Cumulative Totals to LseSum Silver Series for the Totals, Annual Totals, and $/sf reports. (PMR)

– Added Cumulative Total to Silver Series Lease Analysis programs. (PMR)

– LseSum Tenant Rep, Landlord, and Pro/Gold Added 1 step click to show/not show Gross Rent, Rent/usf etc. on graphs.

– Adjusted the Budget to reflect net of LL TI$ if choice was to use GAAP calculations for account for LL TI$

– Added a new category in $/sf for 1-time costs eliminating the confusion between 1-time costs and annualized costs. (PMR)

– We have enhanced the comparison reports to include the Net Effective Rate and we have given user's the option to show or not show the Net Effective Rate, the NPV, and the NOI (in LseMod Landlord), all with the click of a button!

What's New in LseMod V11?

What Was New in LseMod V7, V8, V9, & V10?

Click here to view what's new in Tenant Rep. Click here to view what's new in Lsemod Pro. Click here to download samples of what's new in version 11. Click for what's new in LseMod Buy, v11.

MORE Pictures, Floor Plans, User Defined Text – We have added the ability to insert pictures, floor plans, and user defined text in LseMod's Financial Summary. Sample reports will be available for viewing or downloading November 1st. Check out this feature, it's awesome!

Easily Change sf (or sm) Leased During the Term – In LseMod Tenant Rep, Industrial, and Landlord, we have added the option to adjust the space leased during any month during the term. For instance, you can add 10,000 sf in month 27, another 5,000 sf in month 33, and downsize by 11,000 sf in month 41. Rent, operating expenses, taxes, tenant electric, etc. will automatically be adjusted based on the space leased during that month.

– We have added Top Stops for both operating expenses and real estate taxes so that if the tenant is able to cap to cost of either item, only the costs up to the cap will be passed through to the tenant.

– As GAAP changes, we update LseMod's Gold Series to include the OPTION to include or not include the changes. Version 11 includes options to amortize Restoration over the term and the option to adjust Rent based on the Landlord's TI dollar contribution to construction costs. Additionally, if there are even more landlord inducements besides the TI$, they too can be capitalized and credited against net rent.

– In LseMod Pro, we have expanded the tests to determine if a lease needs to be categorized as a Capital or Operating lease. We include the present value of rent test vs. 90% of FMV, the 75% of remaining life test, as well as the bargain rent and title tests.

– ALL programs now include the ability to evaluate costs in ANY currency and in square feet or square meters so if you are a UK company you can use LseMod for your analysis and see all costs and assumptions in UK Pounds (£) and square feet or square meters.

– LseMod's Gold Series now includes the ability to compare costs in any TWO currencies, e.g. do an analysis in euros (€) and compare or add/subtract costs in UK Pounds (£).

– Currently you can link LseMod Landlord to Tenant Rep or Industrial to see the landlord's side of a deal. We have added links so if you are a landlord, you can automatically fill in Tenant Rep/Industrial and see the tenant's side. The linked file is automatically updated whenever a change is made to the source file, e.g. LseMod Landlord.

– If you are a landlord and want to see the tenant's side, click a button to link LseMod Landlord to LseMod Tenant Rep or LseMod Industrial. Change something in Landlord and the change is automatically changed in Tenant Rep or Industrial. Note: You can already link Tenant Rep and Industrial to Landlord.

– We have added a payback calculation (straight costs and based on NPV) to LseMod Landlord.

– LseMod Pro now includes the ability to set your own depreciation schedule instead of using the default straight-line schedule.

What's New in LseMod V10?

– LseMod is easy to use, easy to understand, and easy to explain. We have made LseMod even easier with a new toolbar, easily understood print and tools options (see goal seek below), construction financing and many more enhancements done with the goal of making the program easier to use.

– The Management Summary has been expanded to include deal points. Over 500 variables can be compared and we have even simplified the point and click to add to delete line items.

– All LseMod programs include an email command (at no additional cost) so user selected reports and graphs can be copied to a new Excel file and emailed as an attachment. Included in the email file is a Table of Contents, and NOW in version 10 you can point and click to add pictures, logos, or even floor plans to the Table of Contents!

– LseMod includes The Lease Wizard, which is a training, and refresher guide that walks users though a detailed occupancy cost analysis with step-by-step instructions. Also, NEW in version 10: You have training videos accessible over the Internet and even a Quick Reference Guide to help you. Free training over the Internet is also part of what you get when you purchase LseMod and we are available 24/7, 365 days a year! Click to see a listing of the videos.

– Use our new proprietary goal seek to find the rent necessary to meet your goals, just enter the new value (rent, total cost, NPV, etc.) and let LseMod do all the work for you.

– We have tweaked LseMod Landlord so that you can link the file to any LseMod lease analysis and see the landlord's side of the deal. PLUS, make a change to your analysis and the landlord side will be automatically updated!

– The data entry for construction financing has been simplified (just enter the interest rate) and it now shows as a separate line item in the reports.

– Free rent data entry has been simplified. Make rent free in any month in the lease term and any percent (e.g. 28% in the 41st month).

– The graphs now include the option to add/delete items and can be easily customized, with or without data labels!

– LseMod Silver series gives you the ability to easily show your financial reports based on a Lease Year (e.g. Yr.1, Yr.2 etc.), a Calendar Year (e.g. 2005, 2006, etc.) or a Fiscal Year that can start at any month (e.g. like the Federal Government, FY05 starting Oct. 1, FY06, etc.). Note: The Gold series has always had these options.

– Need to include VAT, GST, a Management Fee on Rent in your analysis? LseMod v10 provides the flexibility to tax any line item, or just as easily all costs. And, there is even the ability to adjust special taxes as necessary on a monthly basis.

– In v10 a user can define the print formats (e.g. 11 x 17 paper) or use our defaults. The ability to set your own print commands lets you avoid any issues with print too small to be read.

– LseMod is very comprehensive, but sometimes you do not need all that "comprehensiveness". In LseMod point & click to hide costs (e.g. furniture, parking, etc.) that not being used, so you can present a concise report showing just what is required with no need to explain why some costs are not shown. In v10 you can even hide the assumptions you are not using!

– Ever need to compare leases with different terms. In LseMod you can show the costs and NPV for any part of the term, e.g. 60 months of a 7-year lease so you can compare it to a 5-year lease? Additionally we have graphs that compare the average annual cost and the first year cost, capital if applicable, and the NPV of the average annual cost so getting an apples-to-apples comparison is easy.

– For those of you doing international analysis, we have created a calculator to calculate the rent increase after five years given different percentage increases in market each year.

– LseMod's Gold series now includes EBITDA in addition to Cash Flow, the P&L impact, and before and after tax calculations.

– If you have ever tried to calculate the impact of a sublease according to GAAP, you know how difficult it is. We have done all the work for you so you can easily show subleases according to GAAP. Even if you only need to do one sublease analysis according to GAAP, the program will pay for itself in time saved.

– LseMod's Gold series gives a user the option of showing rent based on GAAP or Cash Flow. In version 10 we have added an option to over-ride all rent calculations so that if you are evaluating a scenario after the lease has started, and GAAP rent is being used, you can see a correct P&L Impact as well as a correct Cash Flow and before and after-tax NPV.

There's more! We just listed a few of the enhancements you might find the most interesting.

What's New in LseMod V9?

– Have you got color? LseMod's got color!!! User's can change a report's colors, lines, borders and save their custom color format. Reports can be printed in color or in black and white!

– We have always given users the option of just doing the basics; what we have added is the ability to make the Financial Reports just include relevant data. Unused line items (e.g. furniture) are hidden and can be used later to left off the report - all with the click of 1 (one) button! We even include an Error Trap to make sure you have not inadvertently hidden rows with data.

– Two new reports have been added to LseSum, the program that dynamically links the LseMod analyses and creates a summary or scenario report. We have supplemented our square foot cost report with an annual cost report that shows, by year, annual costs for key line items. AND, there is a similar command like the Show only relevant data above - again, all with the click of one button.

– A NEW Totals report in LseSum allows you add/subtract costs by year. Using the same Calculate Totals command in our Management Summary, you can easily calculate differences and evaluate scenarios showing the costs on an annual basis. Since files are dynamically linked, if you change a value in a LseMod file, the Totals report is automatically updated!

– Users can add unlimited user created notes and comments with just the click of a button.

– We have created a NEW Key Assumptions report that consolidates the real estate and infrastructure assumptions onto 1 page. The multi-page Detailed Assumptions reports are still available for users who want this level of detail.

– We have added the ability to start one-time project costs at any time during the term vs. at the beginning of the lease term. Depreciation, where applicable, is automatically adjusted based on the shorter time.

– Included in all products, we have further enhanced our proprietary e-mail program to simplify the process to lock the file from changes.

– The pre-programmed graphs in LseSum can now be easily customized, not only for color and style, but also line items can be easily eliminated. Additionally, our proprietary create a graph command can also be used to create user defined graphs.

– We have dramatically upgraded our Lease vs. Buy programs. In LseMod Buy there is a new Management Summary and Key Assumptions reports. We have added a Sale Price Point of Indifference calculation. You can now do balloon payments such as a 30 year loan due and payable in 5 years. Additionally you can include Opportunity Cost as well as income from leasing out part of the purchased space. The graphs are awesome; they have been re-done to show Annual and Cumulative Costs in the same graph.

– We hired a user interface specialist to work with us to improve ease of use. Additionally, we programmed the tab function to make it easier to scroll down the input/data entry sheet.

– To simplify printing multiple copies we have added that feature to LseMod.

– We have added a loan amortization calculator to all the programs, even space allowing for the changing of the line item description to Loan Amortization. Security deposits can now be added for the first or last month's rent with the click of a button. Parking has been enhanced to include Reserved and Unreserved.

– Version 9 incorporates over 400 hundred changes. We have only listed what we consider the major improvements above. In testing and use since August of 2003, LseMod Version 9 is the most advanced, comprehensive, flexible, and user-friendly tenant analysis program on the market.

What's New in LseMod Version 8

– We have added a new report that compares costs per square foot by year and by line item (e.g. rent, op. expenses, construction, parking, etc.). International? If doing an analysis in Euros and square meters, the comparison converts everything to dollars and square feet. Pictures? You can include pictures of properties too!

– New commands allow users to customize the financial reports as well as the assumptions printouts. Include as much, or as little detail as appropriate.

– Include in your analysis cost/headcount or cost/workstation (user defined metrics) and in addition to comparing costs, compare side-by-side Other Factors such as Class of Building, Renewals, Expansions, Cancellations, Column Spacing, Parking Ratios, etc.

– We have added additional ways to tweak individual line items such as Rent, Other Monthly Expenses, Depreciation Write-Offs, etc., and now, with one click, you can document the tweaks in your reports.

– We have further enhanced our proprietary e-mail program that is included in all products. Not only can you combine reports and graphs from multiple files into one e-mail file, complete with a table of contents; now you can protect the e-mail file from changes, number the pages, and customize the table of contents!

– Show the P&L rent based on GAAP, not just Cash Flow. Test to see if it is an Operating vs. a Capital Lease. (Features in Gold Series products)

– Use our basic analysis input forms (the quick & dirty analysis) and choose between rent on a per year basis or on a per month basis. Tenant improvements being quoted on a usable sf basis? LseMod gives you the option of showing construction costs on a usable or a rentable SF basis.

– Need to see the rent, ops, or sublease income for any particular month, look it up using our new lookup commands. Or, you can easily find the date or lease month using our new lookup commands.

– We have enhanced our graphs and unprotected them so users can easily customize them for colors, fonts, etc.

– Print on any size paper (user defined) - standard, legal, A4 (international), etc.

– We have rewritten our training - just two (2) training modules and an investment of less than one (1) hour will get you up and running! We are also rewriting our help file (due out December 2002).

– In our Gold Series we have added $/SF by line item to the Financial Summary. In LseMod Landlord we have added Marketing Time and in LseMod Sublease we have added LseSum Sublease so multiple sublease scenarios can be compared side-by-side in a management summary report.

– Version 8 incorporates over seven hundred changes. In testing and use since August of 2002, LseMod Version 8 is the most advanced user-friendly tenant analysis program on the market.

What's New in LseMod Version 7

– We have added LseMod Tenant Rep, LseMod Landlord, LseMod Buy (for a lease vs. buy), and LseMod Sublease to our product line. Based on LseMod International V7.2 – the new Silver Series offers greater simplicity at a lower price. Designed to compete with other Excel based Cash Flow analysis programs on the market.

– All present value calculations are based on a monthly beginning of month payment. Users have a choice of using the default or changing the calculation to end of month or annual.

– We've added more ways to enter data including a basic analysis data entry form that requires absolutely no training. Click a button and start entering information. Throw away that old calculator!

– Compare different scenarios – add or subtract costs using selected elements from different LseMod files, virtually automatically using our commands.

– We have further enhanced our proprietary e-mail program that is included in all products. You can combine reports and graphs from multiple files into one e-mail file, complete with a table of contents.

– Use our pictures command to easily insert building pictures into a comparison report such as the Management Summary or the comparison of Unit Metrics.

– Easily add cash flows or compare rents side-by-side for different properties, either monthly or annually. Other costs such as P&L PreTax, P&L AfterTax, Present Value of the Pretax Cash Flow, etc. can also be compared.

– Pre Tax Cash Flow, P&L Costs, Capital Costs, Rent, comparison of the NPV / square foot for rent and occupancy costs . . . and much more.

– Need to tweak the rent, operating costs and/or taxes? We have added an Additional Inputs sheet so you can tweak these costs for any month in the lease term.

– ($54,325 or $54.3) – See costs either in thousands (e.g. 54.3) or in actual dollars (e.g. 54,325).

– Compare not only typical costs but also compare the Average Cost / HdCt / Yr, or the Average Cost / Workstation / Yr, or add your own benchmarks.

– New report - Pretax Cash Flow to go with existing reports such as P&L Costs as well as the After Tax Cash Flow. Now if you don't want to use the P&L analysis you can just use the Cash Flow report!

– Include landlord profit sharing and depreciation carryover or write-offs and when you do an analysis, make it a complete analysis and you'll dazzle your customers.

– Concurrent with the release of Version 7.0 we now offer site licenses as well as an annual Support Agreement for upgrades, new releases, and technical support.

– We have added a true online help file where you can search by key words or use our tips and suggestions for customizing LseMod to fit your unique needs.

– Version 7 incorporates over one thousand changes. In testing and use since March of 2001, LseMod Version 7 is the most advanced user friendly tenant analysis program on the market.

LseMod was first written in 1989; we started selling it as a product in 1996, and only started listing What's New in 2001.