Are You Overpaying On Your Lease?

Conflict-free representation is not something we just talk about, it’s the backbone of our occupier-focused real estate platform and what separates us from our competitors.

But this conflict-free approach doesn’t just give our clients a leg-up when it comes time to negotiate a new lease. We offer a full line of tailored services that create value throughout the life of a lease.

One such offering is Cresa’s Lease Auditing and Forensics service. Providing a deep-dive into the financials of a lease, our team can determine the specific numbers that form the basis of our clients’ annual real estate expenses and find inconsistencies where they may be being charged more than they should.

Over the next few weeks landlords should begin providing tenants their operating expense reconciliations. The Building Owners & Managers Association (BOMA) International, the most trusted source for best practices, guidance, and standards for landlords around the world, estimated that as many as 75% of escalation invoices contain errors.

This creates a great opportunity to earn immediate savings while helping avoid additional future costs for the remainder of your lease. It can also potentially increase your leverage in any future negotiations and sometimes even allow you to break your lease early.

How It Works

Submit your lease and Cresa will perform a preliminary review at no-charge.

Cresa will then propose an audit plan with engagement terms to determine the best course of action.

Cresa will engage the landlord and negotiate recoveries with client support.


Benefits To Tenants

Recover expense overcharges ranging around $1-$5+ per square foot on successful audits.

Mitigate future overcharges with an ongoing reduction in charges that often reaches 10%.

Contingency fees ensure that the lease audit pays for itself.

Don’t overpay your landlord. Make sure you are only being charged what you actually owe and have your reconciliation statement reviewed by a Cresa advisor today. 




Related blog posts

Colleen Murray
Blog
July 16, 2021

Evolving to a Hybrid Workplace with Colleen Murray, Director of Operations for Perkins & Co

As Colleen’s team at Perkins & Co started planning for reopening their office, they knew there would be a lot to contend with, and having a detailed, thoughtful plan was essential to communicate. “We’ve thought about it extensively in our reopening planning. How do we make people feel ok about this? How do we give them the space to re-enter (the office) that works for them and their family?” Colleen said.
Cement Workers
Blog
July 15, 2021

Building material costs - A bubble soon to pop?

For the building materials industry, the COVID shutdown was very short-lived and not only reversed quickly, but demand sent prices of some materials to record levels that to continue today. Are increased material costs here to stay?