Imagine the total headcount within your company. There are hundreds, possibly thousands of people that work within your company that create value and revenue for you within your real estate. Now imagine each employees full potential being realized when placed within the right environment. What would be possible? Our Lee Corporate Solutions platform was built with the entire organization in mind. We understand the effects of M&A, talent turnover, competing interests and excel at orchestrating internal alignment.
Now imagine the financial effects of each piece of real estate within your company. When six and seven figure savings are possible with one single office or industrial leasing assignment, you can imagine the cumulative effects of 100 leasing assignments on your company’s financial statements. Our goal is to create an environment whereby real estate further adds value to the organization. How is this possible? Read on.
First, we start with a Portfolio Management Process that provides for simplicity, clarity and consistancy:
|1.1||Support staff in retrieval of all lease documents|
|1.2||Identify missing documentation|
|1.3||Create digital and hard copy files|
|1.4||Provide documentation to all internal departments|
|1.5||Create lease abstract standards|
|1.6||Abstract all leases and amendments|
|1.7||Verify, document and upload operating expenses|
|2.1||Review all landlord invoices|
|2.2||Update database with all monthly expenses|
|2.3||Provide monthly reports outlining all rent obligations and liabilities|
|2.4||Document commencement date memorandum and match to lease abstract|
|2.5||Monitor and reconcile tenant improvement allowances|
|2.6||Coordinate move out|
|2.7||Collect security deposits|
|2.8||Review and upload estoppels|
|3.1||Rent obligations and liabilities|
|3.3||Critical dates and option dates|
|3.4||Tenant improvement allowances|
|3.5||Support internal departmental and personnel needs|
|4.1||Review annual operating expense reimbursement invoices|
|4.2||Request all applicable documentation from landlords|
|4.3||Scrutinize reconciliation and compare with local standards|
“What gets measured, gets managed.” – Peter Drucker . In real estate this means abstracting every single lease. Only through lease abstracting can an organization have the data needed, in a productive medium, to manage its many real estate assets. Once all locations are identified and leases abstracted, we can go about the quantitative and qualitative process of assessing the current state of affairs and priority level of each location.
ePortfolio mobile technology is an agnostic, mobile technology platform that is flexible to each project, identifies process improvement and provides customized mobile management of the transaction process, business analytics, and our clients’ real estate portfolios.
- Location Intelligence
- KPI Tracking (Business Analytics)
- Portfolio Management
- Data Layering
With ePortfolio you will be able to visually see every current location and prospective location while being able to drill down to lease files, floor plan, pictures, videos, drive times, demographics, competitor locations, stacking plans, and space plans. Do you have a need for customized reporting? No problem. We tailor each portfolio to your needs and we provide you the ability to decide each team members level of access. Preview our PDF introduction here.
Our duty to our clients is to aid the lease administration process in the most beneficial way possible. We have the staff and resources available to supplement your existing efforts, to fully outsource to our team or to help design an entire new system by bidding our services to new vendors. The most important process within the lease administration module is to ensure that the system is consistent with the business goals and complements the current business infrastructure.
Lease & Operating Expense Audit
Most tenants do not audit their leases or contest their operating expense reimbursables. It is very common that there are savings in these lease audits. The most likely saving is based on operator error in which your landlord has inadvertently passed through an expense to you without their knowledge. Alternatively, one can think of lease audits as another negotiating position. Often times able to get landlords to forgo charging a tenant operating expenses increases at the time of lease renewal. You’d be surprised at the savings that are possible.
Justin’s strengths include multi-market transactions, focused on providing best in class solutions through a systematic and controlled process. Client’s benefit from his transactional experience and sound advice.
Do you have one specific location that needs work? Review our Transaction Management to find out how we can work together.
Do you want to learn how you can improve the way you manage your portfolio? Contact us today.