LEASE REVIEW UNCOVERS ERRORS AND SECURES SIGNIFICANT CREDIT FOR OFFICE CLIENT
Emplacements
- Toronto, ON
Services Fournis
Client Objectives
- A Cresa Global client with an office in Toronto received a lease credit after settling their rent reconciliation. Instead of assuming everything was accurate, they engaged our expert team to review their lease to ensure information was accurate and no incorrect charges were overlooked.
Results
Following Cresa Toronto’s review, they uncovered a number of errors, such as:
- Incorrect variable expenses gross-up calculation
- Major expenses were recovered in the fiscal year rather than capitalized as per accounting and industry-accepted standards.
- Capital projects’ costs were accrued and recorded in an expense account.
Our review resulted in an additional $141,000 credit for our client.
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