Real estate startup LeaseCake launches new SaaS platform to transform commercial real estate lease management
With more than 5 million leases across the small- to mid-tier commercial real estate market, most property owners still utilize spreadsheets to keep track of buildings and tenants, thus creating a lack of transparency and communication between both parties. We live in a mobile age with instant access, yet millions of commercial real estate “dates and dollar events” are trapped in off-line spreadsheets void of real-time information. LeaseCake is a new startup that is transforming commercial real estate lease management. The startup is a provider of a Software as a Service (SaaS) platform for commercial real estate lease management.
Today, the Orlando-based startup announced the launch of its software as a service (SaaS) platform that simplifies lease management for commercial real estate landlords, brokers, and tenants. Leasecake eliminates the need for disparate spreadsheets, calendar reminders, and notes by streamlining business processes. The software enables property owners to operate more efficiently and tenants to stay focused on their business.
Founded in 2017 by Clayton Mamele, Jim Bankston, Rick Uzcategui, and Taj Adhav, Leasecake helps manage critical dates and important lease data through a mobile platform that also enables engagement within a shared network. As a result, small- to medium-tier property owners and managers can modernize operations and focus on growing their business.
There are more than 5 million leases across the small- to mid-tier commercial real estate market. Most property owners utilize spreadsheets to keep track of buildings and tenants, thus creating a lack of transparency and communication between both parties. With Leasecake’s comprehensive data and its mobile interface, property owners, tenants, and brokers can instantly view all key dates, rental rates, rent increases, and availability. LeaseCake customers realize an 80 percent increase in time savings and 50 percent faster rent collections – providing real value in efficiency and positive impact on the bottom line.
“We’re living in a time with instant access and gratification at our fingertips, yet millions of real estate lease events are trapped in static spreadsheets that lack real-time updates,” said Taj Adhav, CEO of LeaseCake. “LeaseCake reduces friction between owners and tenants and allows small- to medium-tier property owners and managers to modernize operations and focus on growing their businesses.”
LeaseCake was founded after Adhav won the top award in the 2017 Techstars Global Startup Weekend from a field of competitors in 200 cities and 58 countries spanning six continents. Since May, the platform has signed commercial agreements with 16 customers, representing more than 500 leases and 1.5 million square feet in its system.
The company recently added two new major clients: Atlanta Investment Properties, with 100 office suites and 330,000 total square feet, and Harkins Commercial, with 70 tenants and 150,000 square feet.