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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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.
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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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Every year at this time, usually between March and June, landlords throughout the land present their tenants with the prior year’s Operating Expense Reconciliation. And while they take months to prepare these statements, the last thing they want is for the business owners and executives who receive them to spend time reviewing this all-important document. So what exactly is this…
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As today’s business leaders strive to stay ahead of the competition and grow their bottom line, the last thing they have is spare time to spend worrying about real estate lease obligations. This includes the burden that may be put on a finance department or a facilities team whose efforts are better utilized focusing on the work environment.