Real estate lease administration teams across retail and other industries having to manage large property portfolios are under immense pressure to reduce operating costs. Managing CAM costs is a time consuming. Add to that list utility and tax expenses, and the task can easily become tiring and stressful.
These “back of the house” duties are challenging the resources of many property management departments. While it might appear harsh, most CFOs don’t want to hear the reasons why lease administrators can’t get the job done, as one department manager of an over-taxed lease administration team found out. His team failed to complete three critical lease renewals on schedule, resulting in the loss of three important sales centers and revenue streams. Sadly, that failure also proved to be a career-ender, but potentially could have been prevented had they realized they needed more staffing resources and looked into hiring a BPO for dedicated staffing services.
This is not a time for status-quo thinking on the part of in-house lease administration teams. As the pressure of a “whatever it takes” atmosphere pushes many teams to consider new strategies, a particularly effective approach has been to employ a dedicated staffing lease administration partner. This strategy allows department managers to expand staffing capabilities for lease audit recovery, meet critical lease renewal obligations, and improve lease obligation efficiencies.
Outsource administration specialists such as Eximius BPO are filling their assignment calendars at a rapid pace. They put a dedicated staffing team on assignment and quickly identify invaluable cost recovery results. In short time, these recovery credits easily pay for the costs of other services. As the COVID economy continues to force retailers into “lean and mean” cost control strategies, administration specialists such as Eximius BPO are proving to be a viable, cost-effective option. Their quick response to a client requiring an “all hands on deck” response proves to be an effective tool to control spending, implement better performance methods, and improve bottom line positions.