Lease Administration Services

Services

We provide "full service" lease administration for businesses. Our immediate value is to help setup best practice processes within your team and train your team by our lead-by-example and teach-them-to-fish approaches. We can then conduct periodic reviews and update processes and procedures that may be required as your business grows or changes.

Establish Lease Administration Systems
This service involves set up and training for:
- Lease review and abstracting
- Information management and reporting
- Operating expense pass through review
- Critical date tracking
- File organization, document storage and maintenance
- Lease administration software system selection
- Defining roles and responsibilities for the team
Lease Costs Reviews
Errors in lease charges can range from simple miscalculations to wholesale misinterpretations of lease language. While most commercial leases share a common basic structure, leases are individually negotiated and almost always contain unique terms that will create errors if not meticulously followed. The scope of lease audits includes the review of calculations and documentation for:
- CAM/operating costs
- Utilities
- Real estate taxes
- Insurance
- Expense allocation methods
- Prorata share determination
- Application of payments and receipts
Lease Abstracting
In order to quantify accurate monetary obligations of the tenant as well as compliance with respect to all other non-monetary obligations of both parties to a lease, leases must be abstracted. Lease abstracts should provide clear, concise, complete descriptions of key lease clauses. Abstracting services include:
- Establishment or review of a lease abstract process
- Abstraction to a new lease information system
- Abstraction of leases
Lease Administration Monitoring for Best Practice
Maintaining a highly productive and effective lease administration system requires regular reviews of the policies and procedures and quality audits of systems and reports. This service provides:
- Review of the policies and procedures with respect to any business and business process changes that have occurred since the last review
- Performance reviews of the systems to determine the effectiveness of the present operation
- Recommendations for process improvements based on any recent best practices available through technology or business regulations
Lease Financial Analysis and Advanced Reporting

Large organizations often discover that they require very complex analysis of the lease information that the lease administration systems cannot normally provide. This service provides the skills to create either complex reports from the lease administration software systems or export of data from these systems into spreadsheets or databases where the information can be analyzed to provide the required management reports.
Setup and Training in Lease Administration Software Systems

This service includes the setup of lease administration software packages for an organization and training the organization’s lease administration staff in the effective use of the applications. Often an organization does not realize the full potential benefit of its lease administration systems without training of the staff and regular updating of the training on new or advanced features.

Lease Administration Responsibilities

Enterprise lease administration business units are responsible for a wide variety of services within an organization. They often are responsible for the second largest (after benefits and salaries) expense item of a business and have to manage on a continual basis some of the most complex business relationships of the organization. In addition, because of their complexity, commercial leases are often one of the most neglected business expense with respect to their review and an area where most businesses are often paying incorrect amounts, which an effective lease administration system will avoid.

Lease administration involves:

Abstracting and interpreting commercial lease documents (leases, amendments, subleases)
Rent analysis, rent payment, rent collection processing
Client/vendor/landlord relationship management
Resolution of rent and other landlord/tenant issues
Reviewing annual landlord reconciliation statements and calculations to ensure accuracy and lease compliance
Data entry and data management of lease documents
Tracking and maintaining critical dates
Financial analysis of leasing costs
Subtenant account management
Billing/collections of third party tenant rents
Reviewing escalation/CAM and real estate tax invoices
Document management of lease contracts and correspondence
Budgeting and forecasting of income and costs
Attestation of systems controls for SOX and internal audits
Coordination for other business units such as Real Estate brokers, Legal, Facilities, Finance, Internal Audit, Accounts Payable and Information Services
Systems management and reporting

Lease Administration Services

Services

Establish Lease Administration Systems

Lease Costs Reviews

Lease Abstracting

Lease Administration Monitoring for Best Practice

Lease Financial Analysis and Advanced Reporting

Setup and Training in Lease Administration Software Systems

Lease Administration Responsibilities