Lease Administration Services
The work for lease administration services are completed by Lease administrators, who are responsible for ensuring the accurate administration of all facets of the lease including managing critical dates, rents, real estate taxes, property insurance, common area charges, tenant improvement allowance reconciliation and recovery, etc.
For tenants with overburdened or understaffed lease administration departments and companies reducing staff due to corporate downsizing, a savvy option is to outsource all or a portion of the lease administration functions. With substantial technologies and platforms in place to deliver lease administration services, LeaseProbe can leverage its expertise, offer competitive prices and enable organizations to pay only for the level of service required, depending the size of their portfolio sizes and needs. We offer a myriad of lease administration services aimed at creating efficiencies and improving the corporate bottom line, including:
- One point of Contact
- Provide one point of contact for all lease administration needs. LeaseProbe staff serves as our clients' in-house lease experts - but without the overhead.
- Expense Review
- A comprehensive review of all lease-related expenses, with a deep focus on expense reduction and recovery. This includes expenses related to Common Area Maintenance (CAM) and lease-related expenses paid directly by the Tenant.
- Comprehensive Lease Abstract
- Assists with the effective management of the lease portfolio.
- Invoice Validation
- Validate Landlord’s invoices and/or demands for payment, rent invoices and CAM charges.
- Critical Date & Options Watch
- Monitor lease terms and provide notification to ensure critical dates and options are not missed.
- Track Tenant Rights
- Monitor space expansion/contraction options and available tenant improvement rights.
Additional in-house lease administration services:
- CAM Annual Review
- A complete annual review of CAM charges, assuring proper pass through and reimbursement methodology. Full Base Year and Gross-Up audit.
- Historical CAM Audit and Review
- E-Scan Services
- Scanning services ensure the entire lease portfolio is organized and available electronically.
- Document Storage
- Place your entire real estate portfolio on-line to make it accessible from anywhere in the world through a simple Internet connection.
- Utility Audit
- A complete audit of the property’s utilities, which approximately 75% of the time yields savings.
- Estoppel Certificate Services
- Electronic bookmarking of each lease ensures easy reference.
- Lease Reporting
- Get the lease information you require in the reporting formats that work best for you.
- Lease Management Software
- Data Entry
- Populate lease data into whatever lease management software your company utilizes
- Square Footage Audit and Verification
- Most lease expenses are tied to pro rata share square footage. Ensures you occupy the square footage of the space imputed to you.
Contact LeaseProbe today to learn more about home and commercial lease administration services.