Lease Administration Services
Money-Saving Advice for Tenants From Our PLA Team
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How A Lease Audit Can Boost Your Bottom Line
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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…
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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, if you have six or more locations, Microsoft Excel is definitely not the best solution to…
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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 the “where” and “why” regarding…
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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 can help your business identify and recover erroneous charges that may also be retroactive for years.…
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As businesses hunker down and look for ways to cut costs and improve their bottom line, one area that typically gets overlooked are the operating expense charges and common area maintenance (CAM) charges in commercial leases. These expenses are confusing for most, and therefore may seem like an overwhelming challenge to tackle. Nonetheless, this could be an area where significant…
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Companies scrambling to adopt to ASC 842 lease accounting changes are evaluating a variety of software and third party options to help comply with the new standards. Lease administration plays a critical role in the accounting compliance. While at its base lease administration is built on quality data management, proficient lease administration can do so much more by allowing a…
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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…
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Landlords would prefer to keep you in the dark – which is why our team at Hughes Marino collectively spends tens of thousands of hours advocating for the rights of our tenants during lease negotiations. But what about after everything is said and done and the lease is signed – how can you be sure your landlord isn’t billing you…
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At some point during your lease term, it is inevitable that your landlord will send a request asking you to execute an estoppel certificate. For most tenants, the request for an estoppel comes as a surprise as it is a legal document and the landlord is likely asking for a turnaround of 10 days. So what is an estoppel certificate?…
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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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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.