Lease Administration Services
Peace of mind, for all your leases
Keeping Tabs on All Your Critical Lease Obligations
A company’s real estate commitments represent one of its largest expenses. While internal staff might be able to handle one or two sites, 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 team of experts, who can help save resources and avoid costly oversights. Led by a 25-year veteran of the industry, our experienced professionals act as an extension of our 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 are benefiting from the knowledge and resources offered by Hughes Marino.
- • Lease abstracts on every lease to help you identify lease rights and avoid costly traps
- • Management of critical lease dates and opportunities
- • 24-hour-a-day access to critical lease data and documents via our secure, cloud-based system
- • Assistance with annual rent and operating expense budgeting to help you avoid costly mistakes.
- • Annual review of landlords' Operating Expense Reconciliations and Budgets
- • Reports with dates of all expansion, renewal or termination rights to ensure you never miss a critical lease date
- • Review of Estoppel certificates or other documents requested by a landlord
- • Lease audit to identify and reverse charges that are not in compliance with the lease
Commercial Lease Insights
Five Common Mistakes Commercial Landlords Make When Preparing CAM Statements
Whether you are a tenant in an office, industrial or retail building, you are likely familiar with the CAM or operating expense charges passed on to you by your landlord. In a triple net lease, tenants are responsible for 100% of their proportionate share of these expenses on top of their rent. In a gross lease, tenants pay for their proportionate share that is in excess of the Base Year amount. These charges are above and beyond the base rent that is stipulated in the lease document and their unpredictability make them a sore spot for many businesses. Tenants receive these operating expense statements from their landlord’s property manager, but how can they know that they are accurately calculated?Read More
New Lease Accounting Standard Has Finance Departments Scrambling
With the required implementation of new lease accounting standards around the corner, real estate and accounting departments across the country are working feverishly to prepare for the new Financial Accounting Standards Board (FASB) Rule, ASC 842.Read More