Today’s economic environment raises intense challenges for businesses managing office and retail property portfolios. These tenants are tasked with reducing lease overhead costs and minimizing occupancy while protecting the bottom line.
Eximius BPO lease administration and lease audit services specialists encourage their clients to pay attention to the complicated language in a typical retail and office lease. Lease terms are often difficult to navigate and even harder to understand. A tenant can easily remain unaware for months, or even years, that they are overpaying for rental expenses such as utilities, insurance, common area maintenance, and more.
As a commercial lease tenant, the most efficient method to avoid making these costly overpayments is to outsource commercial real estate lease audit services to a resource such as Eximius BPO. Their primary job—to conduct a proper lease audit and provide advisory services. By carefully reviewing the small changes in the wording of original lease contracts, professional lease auditors can identify excessive expenditures before it is too late. The bottom line? Lease audit services can save companies thousands of dollars without a large initial investment.
The real estate lease language concerning real estate taxes requires particularly careful examination. Taxes are usually levied by the county and often the local school district, and these taxes can be assessed annually, semi-annually, or quarterly. Various states offer discounts if taxes are paid prior to the predetermined dates and those discounts can be anywhere from 1% to 6%! The issue, once again, is the lease language.
If landlords pay the lower amount but charge the tenants the higher amount, a significant claim has been identified. A proper lease should always state that a tenant is to pay a lower amount if any discounts or rebates are given to the landlord.
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