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.