Keeping Tabs on Your Critical Lease Obligations

A company’s real estate commitments represent one of its largest expenses. While internal staff might be able to handle a few locations, it can become a significant burden and drain on resources to manage a company’s real estate as the portfolio grows. A well-executed lease administration program can provide key management personnel the strategic advantage of understanding the real estate portfolio and its impact on your business.

Hughes Marino’s Lease Administration Service allows companies to outsource this important function to our skilled team members who can help save resources and avoid costly oversights. Our experienced professionals act as an extension of the client’s own team, keeping tabs on the many details of their leases so they can focus on core business objectives. From banking institutions to industrial manufacturers, companies throughout the United States and internationally are benefiting from the knowledge and resources offered by Hughes Marino.

Lease Abstracts

– We review and abstract every lease to ensure valuable key dates, options and other rights are identified so costly traps can be avoided.

CAM/Operating Expenses Reviews

– We review annual operating-expense reconciliations and budgets provided by landlords throughout the year to look for red flags and ensure compliance with the terms and conditions of each lease. Each year we help our clients recover erroneous charges.

Reporting

– We provide monthly reports that highlight everything you need to know about your real estate portfolio which can be customized to meet your specific needs. From key dates, expenses, and portfolio data, to abstract reporting, you’ll find everything you need to make critical decisions.

Document Review

– Clients consider our team a trustworthy ongoing resource for reviewing critical lease documents and providing lease interpretation guidance. Having reviewed thousands of leases, we’re here to support the client’s need to perform according to the terms of the lease.

Document Storage

– We store all critical lease data and documents in a secure, cloud-based system, making them accessible to clients 24-hours a day from anywhere in the world.

Rent Invoice Processing

– We can also have invoices sent directly to us, allowing us to review and highlight any nonstandard charges and provide a comprehensive rent report that details all lease related payments needing to be scheduled.

Accounting

– We’re also able to provide monthly rent reports that highlight recurring charges, expense changes and any one-time expense. Our experts work alongside your accounting team to provide seamless integration into your accounts payable process.

Budgeting

– Our experts will gladly assist in budgeting annual rents allowing our clients to save time and avoid costly budgeting mistakes.

At Hughes Marino, our clients have a direct relationship with senior professionals who have years of experience working with commercial leases on both the landlord and tenant side of the table. Commercial real estate leases are complicated, and the obligations of a tenant aren’t always clearly spelled out. Our clients know they can reach out to us at any time and consider us as their expert partners.

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Commercial Lease Insights

How A Lease Audit Can Boost Your Bottom Line

Portfolio Lease Administration & Advisory Team | Lease Administration Services
May 8, 2023

Each year, commercial tenants collectively spend millions of dollars above and beyond their base rent in operating expenses. Unlike the rental rate that is negotiated and spelled out in the lease document, these operating expenses (OpEx) are subject to each property owner’s operating and accounting procedures. These charges are presented to tenants twice a year—in the beginning of the year as an operating expense budget, and at the end of the year as an operating expense reconciliation statement. These expenses are subject to interpretation, and unfortunately, errors can be made, unbeknownst to tenants who end up needlessly overpaying.

Lease Administration Best Practices for Businesses

Michael Cavell | Lease Administration Services
June 22, 2022

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,...

Operating Expense Reconciliation Season is Here: What Should Businesses Be Looking For?

Michael Cavell | Lease Administration Services
February 24, 2022

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 the “where” and “why” regarding the prior year’s property operating expenses.

Landlord OPEX/CAM Reconciliation Time is Here – Here’s How Businesses Can Get Prepared

Carmela Roco, Michael Cavell | Lease Administration Services
May 19, 2021

On top of all the responsibilities a business has to juggle, a major item that often gets overlooked are commercial landlord billing errors, resulting in thousands (or even millions) of dollars in unnecessary payments by a tenant each and every year. The right team...