Lease Administration Services
Money-Saving Advice for Tenants From Our PLA Team
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Operating Expense Reconciliation Season is Here: What Should Businesses Be Looking For?
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This is the time of year when you can expect to receive your landlord’s operating expense reconciliations for the prior year. You have likely noticed in previous years that these reconciliation statements are often lacking in detail or they are sometimes presented in a way that doesn’t give you the information you need to understand…
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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.
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A local business paper recently compiled a list of San Diego’s largest buildings as part of a commercial real estate report. Looking at the square footages reported by these marquee high-rises, we were reminded that this is an industry that rarely works to the tenant’s benefit. Thanks to our friends at the Building Owners and Managers Association (BOMA), buildings continue…
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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.
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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…
