Lease Administration Services: A Worthwhile Investment
By Kiki Dedakis, a Lease Administration Expert, Landmark
For companies with multiple branches and locations, managing individual leases can be an overwhelming task. Haphazard reviews of invoices become the norm, leaving the company unnecessarily exposed.
Partnering with industry experts in lease administration will mark a fundamental shift in a company’s experience that is unaware of that critical part of their real estate. By partnering with experts, it will help them build a sustainable model they can count on. Here are a few reasons companies should consider outsourcing their lease administration services to an industry expert.
Neglecting a real estate portfolio is one of the biggest mistakes that can be made. In this complex commercial world, companies who omit to inspect landlord invoices due to a lack of time will see their profits decrease.
Does my landlord have the right to bill me for structural repairs?
Can I be charged common area expenses without being provided with an explanation?
Am I charged the appropriate proportionate share on property tax invoices?
Why do I pay invoices without questioning the said charges? Out of fear of being evicted or just to get a bill off my desk?
By outsourcing their lease administration function to industry experts, companies can address a pressing need and have direct impacts on their profits.
Relieve your company of these concerns, cut real estate costs and save time by allowing lease administrators to do the thorough analytical reviewing for you.
The decision to partner with the experts will ultimately be beneficial for your bottom line.
Faster Execution means better cash flow
Hiring a new employee to perform lease administration can be expensive and requires a significant learning curve. In contrast, outsourcing will get the job done professionally and in a timely manner. Industry experts will help you uncover and solve problems that you might have not known existed.
Partnering with professionals will result in recurring cost reduction every year and reduce the leg work of your internal financial departments. Are you in need of an expert lease decision maker? Lease administrators who will take charge and truly understand the real estate world can be your best viable option in today’s competitive environment.
A partner is for long term
Are you in need of a trusted advisor? A partner who will be by your side for long term. When internal real estate employees leave your company, hiring the right person and training them is very difficult and time consuming. By outsourcing this function, you no longer rely on undertrained staff to perform complex real estate administration.
An external service provider will have the experience and knowledge required to provide long term continuity and familiarity with your real estate interests. They can avoid internal politics and focus on delivering results, based on performance targets pre-defined by the client. Partnering up for today, tomorrow and for the future is the smart way to do business.
Avoiding careless mistakes and optimizing cost reduction is made simple with lease administration experts. As the commercial real estate industry evolves, can it be the competitive advantage your company is looking for?