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 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.
– 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.
– 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.
– 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.
– 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.
– 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.
– 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.
Commercial Lease Insights
Lease Administration Best Practices for Businesses
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 monitor one the biggest expenses for your company.Read More
Six Critical Lease Dates for Businesses to Monitor to Avoid Costly Mistakes
Imagine trying to manage your leasing portfolio, with renewal and termination option notice dates, security deposit or letter of credit reduction dates, tenant improvement allowance use-by dates, insurance renewals, expansion & contraction options, base rent increases, and other critical dates in an excel spreadsheet, all while simultaneously juggling your other job functions? Maybe you don’t need to imagine—this could be you! Similar to ensuring your landlord is following the terms and conditions of your lease when reviewing your annual operating expense charges, it is important to diligently track key lease dates to ensure you don’t miss out on the lease options you negotiated for. Overlooking an important key date in a lease can be an easy mistake by an already busy team member when relying on an Excel spreadsheet, and this can manifest quickly into costly ramifications or missed opportunities for the company.Read More