Commercial Lease Insights

Money-Saving Advice for Tenants From Our PLA Team

Private Companies Prepare for Upcoming Lease Accounting Changes

on February 12, 2019

In less than a year, private companies will need to implement a new accounting standard for the reporting of lease obligations. The new standard, ASC 842, was issued by the Financial Accounting Standards Board (FASB) in 2016 and goes into effect in January 2020 for private companies. ASC 842 now requires lessees to record lease obligations that are longer than one year on the company’s balance sheet as a Lease Liability and a Right-of-Use Asset. Prior to the change, these obligations were only recorded on the income statement.

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Our Portfolio Lease Administration & Advisory team is comprised of industry-leading experts with over 30 years of experience focused on this specialization. We know the ins and outs of the business and take the burden of these responsibilities off of your hands. The team's broad expertise have helped tenants save money on their leases, and address issues that arise during their occupancy.