How Cloud Storage of Lease Documents can Benefit The Business
Nov 14, 2022
What is Cloud Storage?
Many businesses in this modern world generate, store and maintain an arduous
amount of data required for their business.
These data can help the business in multiple ways, and thus, it creates a need
solutions that provide efficient and secure document storage systems accessible
Cloud solutions enable storing documents, files, agreements, and records online
digital format. In addition, it offers increased security and efficiency, which is why
many businesses are starting to adopt cloud solutions.
Traditional methods versus Cloud methods
Every enterprise uses the computer to perform business-related operations.
Traditionally, we used computer hardware to store data. As the data produced by the
organizations increased exponentially over the years, they built and maintained
Storage Area Networks (SAN) to manage the company's records.
The disadvantage of these SANs was that, as data increased, it created a
for more servers. But these servers were expensive to build and maintain, thus
Here's where Cloud solutions come in handy. The storage provided by the
scalable, enables instantaneous access over the internet, and reduces protection
In the case of Commercial Lease agreements which are usually long-term,
documents and records maintained for the same tenure need a storage element.
When storing physical documents, they pose many challenges that include
and misplacing while it takes up a lot of office space. Moreover, these hard copies
can be accessed and manipulated by anyone, thus making them prone to forging.
On the other hand, storing documents on the cloud can save them from being
misplaced. Also, they don't occupy space in the office and provide instant access.
Benefits of Storing Lease Documents in the Cloud
Cloud storage is capable of providing more options than local storage
lease agreement usually will be of 10-20 pages document. An enterprise that may
hold many branches throughout the country would engage in numerous lease
agreements. Managing and storing these rental agreements without a
comprehensive system is challenging.
Hence, storing Lease Agreements in the cloud can provide some fruitful
A lease management software hosted on a cloud platform is easily accessible
authorized person with an internet connection. Cloud software enables multiple
access, so if anyone needs any agreement, they need not visit the premises to fetch
it and can access it by logging in. Lease Portfolio 365, a cloud-based lease portfolio
management software, allows multiple authorized access to any lease agreement.
The lease agreements are easily prone to manipulation. They have to be
retain their legitness for the lease period. Hence data security plays a significant role
in property administration. Cloud solutions offer tight-knit protection for documents.
Lease Portfolio 365, also known as LP365, protects the lease agreements from
third-party manipulators with SSL encryption scrambles.
When managing a large-scale lease portfolio, reminders on lease payment
deadlines, termination, and renewals are mandatory. These notifications help avoid
penalties for delayed payments. In addition, it enables lease managers to be
punctual and makes it easier for them to account for the finances on time. LP365
sends a prior notification for lease deadlines so that the lessee can manage to pay
rent on time. It also sends reminders for renewals, escalation, termination, and every
One of the foremost advantages of a cloud solution is the cost-benefit. As
features are scalable, it benefits the property manager by preventing them from
spending humongous amounts on servers. The investments made for building and
maintaining the storage servers get reduced when we adopt cloud-based software.
Thus cloud-based solutions offer more valuable advantages to property
management than traditional methods. Almost all enterprises are moving towards
cloud-based solutions specifically for the added assistance they provide.
Lease Portfolio 365
LP365 is a cloud-based
property management software that assists customers with
24x7 availability. It simplifies the process of data abstraction, report generation,
notification generation, termination, escalation, document, invoice, and billing
management. It offers many cloud features and is customizable based on the needs.
To book a free demo, do visit LP365. You can contact us