From both the tenant’s and landlord’s perspective, the importance of effective and accurate lease administration cannot be overstated. For example, if a landlord overlooks a simple “rent bump” or incorrectly states a “base amount” it can lead to errors amounting to thousands or even millions of dollars depending on the size of the lease. Alternatively, if a tenant has not thoroughly reviewed its occupancy costs or has not tracked lease options and rights, the tenant could be leaving tremendous value on the table. HelmsleySpear knows lease administration and utilizes a step by step system to ensure that lease terms are accurately reflected in all statements and critical dates are anticipated ahead of time.

HelmsleySpear’s Lease Administration solutions address the following:

  • Critical Dates, Rights, Obligations, Options & Kickout Rights
  • CPI, Porter’s Wages, Percentage Rent and Other Escalations
  • Rent Bumps & Additional Rent Review
  • Lost Security Deposits and Letters of Credit
  • Notices & Reporting
  • Lease Abstracting and Validation
  • Lease File Organization and Maintenance
  • Tracking Tenant Improvement Work and Construction Cost
  • Negotiation and Collection of lease administration Disputes
  • Lease Software System Setup & Population
  • Lease Administration Review, Design & Training
  • Lease Audit Preparation