Are You Neglecting Your Company's Real Estate Portfolio?
You’re not paying enough attention to your real estate portfolio.
There, I said it. Chances are, if your company has multiple leases in its portfolio, you’re not managing them responsibly. How could you? It’s a full-time job that few companies have the time or resources to fulfill.
Did you know that Cresa offers commercial tenants lease administration in its suite of services to abstract and organize your lease data? When you hire one of our expert lease administrators, you receive document storage, lease summaries, notice date alerts, and a plethora of reporting options, including customized reports based on your needs. You’ll not only have your lease data at your fingertips, but you can utilize that data strategically to highlight problems and opportunities in your portfolio. And we’ll help you every step of the way. Here’s why you should consider it:
Professionals do it better
To ensure your data is entered into a lease administration system accurately, completely, and in an easily accessible format, hire a professional. Save yourself from reading through lease tedium to find a specific date, clause, or data point, doubting whether you interpreted the legalese correctly or whether you caught a full reference. A lease administration professional will extract the facts and summarize them succinctly for you.
You won’t miss a date
In a large portfolio, details can get overlooked. Lease administration experts constantly update the system to reflect changes in your portfolio and will alert you to important notice dates like termination and expansion options, expense changes, and security deposit returns. Missing a trigger date can impact your company negatively, so don’t miss out!
Plan for the future
Aggregating your lease data in one location will highlight both inefficiencies in your portfolio and opportunities for growth. Perhaps you’re rethinking the value of a high-cost location with low seat capacity or an underutilized office in a hot market. Or maybe there’s a strategic reason to align or avoid coterminous lease expiration dates. Seeing your portfolio clearly, and how it has been managed in the past, can lead to new and improved practices going forward.
Have I convinced you?
If your real estate portfolio is growing, becoming difficult to manage, or if you just want to improve your lease data management, Cresa can help! Reach out or read more about Cresa Lease Administration here. Doing nothing is not an option.