Lease Administration Services
Peace of mind, for all your leases
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 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. 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 and around the world are benefiting from the knowledge and resources offered by Hughes Marino.
– Our team reviews and abstracts every lease to ensure valuable rights are identified and costly traps are avoided.
Rent Invoice Processing
– We encourage our clients to have invoices sent directly to us, so we can review and highlight any nonstandard charges and provide a comprehensive rent report that details all lease related payments that need to be scheduled.
– Our experts assist with budgeting annual rent and unpredictable operating expenses well in advance of when landlords provide their statements, allowing our clients to save time and avoid costly budgeting mistakes.
CAM/Operating Expenses Reviews
– We review annual Operating-Expense Reconciliations and Budgets provided by landlords throughout the year to look for red flags. Each year, we help our clients recover millions of dollars in erroneous charges.
– 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.
– We provide monthly rent reports that highlight recurring charges, expense changes and any one-time expense. Our experts will work with your accounting team for seamless integration into your accounts payable process.
– Clients consider our team a trustworthy ongoing resource for reviewing critical lease documents including Estoppel certificates requested by landlords over the lease term, as well as due diligence for potential new lease acquisition.
– 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.
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 think of us as our in-house experts.
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
A New and Significant Tax May be on the Horizon for California Businesses
An effort is underway and gaining momentum in California to overhaul the current property tax system which will result in billions of dollars in taxes on the backs of businesses. Already one of the costliest states in the nation to conduct business, this tax will flow to the cost of renting commercial real estate in the Golden State.Read More