Lease Administration Services
Money-Saving Advice for Tenants From Our PLA Team
-
Lease Administration Best Practices for Businesses
on
It is truly remarkable, and just a bit worrisome, how many people use Microsoft Excel to keep track of their real estate lease information. While it works well if you are only tracking a few key dates and terms for one or two leases, if you have six or more locations, Microsoft Excel is definitely…
-
When tenants enter into a lease, in addition to the base rent, they typically are required to pay for their share of building operating expenses. This is true whether your lease is structured as “full service,” “modified gross,” or “triple net.” The intent is that these expense charges will increase at an inflationary rate over the lease period. Unfortunately, the…
-
The term “audit” carries many negative connotations. From the burden of a corporate audit to the unknowns of a tax audit, everyone wants to steer clear of an “audit.” Because of this, many businesses avoid entertaining the process of a lease audit, and are potentially leaving millions of dollars on the table by allowing their landlords to charge them expenses…
-
You probably don’t give your monthly office rent statement much thought. After all, they should simply reflect the rent due under your lease, so common sense says you have better ways to spend your time than analyzing them down to the last detail. However, January is the month when landlords typically update their tenants’ share of operating expenses for the…
-
At some point during your lease term, it is inevitable that your landlord will send a request asking you to execute an estoppel certificate. For most tenants, the request for an estoppel comes as a surprise as it is a legal document and the landlord is likely asking for a turnaround of 10 days. So what is an estoppel certificate?…
-
As a commercial tenant, this is the time of year when you can expect to receive your building’s operating expense reconciliation and budgets. If you have never taken the time to study these statements, it’s probably because the information was presented in a way that offered little detail. That’s by design.
-
It’s that time of year again when Southern California landlords are sending out their 2014 operating expense (OpEx) budgets and 2013 reconciliations. If you are leasing commercial space, that means there’s no better time to review your lease to make sure you’re not paying more than you should be.
-
Often overlooked, the establishment of your Base Year is perhaps the most important operating expense statement you will receive from your landlord. Ironically, since you do not pay any excess operating expenses during this period, it is hard to make this review a priority. At Hughes Marino we encourage you to be proactive and review and understand your Base Year…
