Fortune 500 Clients
Tenant Move-in, Move-out, Termination and othersUpdate on any movein/moveout and any amendment updation.
Gross Sales UpdateUpdate on tenant gross sales and bill percentage rent
Critical Date ManagementTrack the critical dates as specified in the lease
Certificate of insurance (COI)To track the expiration and availability of the current COI.
Security Deposit:Deposit movein/moveout
Tenant CorrespondenceSending letters to tenant on lease activity notifications and request on lease obligations
In commercial real estate, lease administration has emerged to be a key strategic function to ensure portfolio optimization, cost containment and risk mitigation. However, most companies lack data management skill, infrastructure and expertise in lease administration, which restrict their ability to manage this function effectively. Inadequate focus on lease administration can result in underutilized assets and missed opportunities to optimize cost and streamline operations. It can also make it increasingly challenging to stay compliant with regulatory standards such as FASB and IASB lease accounting standards.
Springbord offers comprehensive lease administration services to support property managers, commercial real estate owners, retail managers and real estate investment trust (REIT). We help optimize portfolio management while remaining compliant. Whether it is commercial, residential, office space, retail, tower or ATM, we have been closely working with some of the leading real estate players helping them contain cost and drive strategic planning. Our lease administration services include:
Collect, standardize, and consolidate unstructured data and convert in user-friendly format to make analysis easier, simpler, and faster.
Extract critical details including deed of trust, promissory note, identify inefficiencies and improve revenue opportunities.
Convert, migrate, audit and integrate lease data with all the major accounting and financial and property management systems.
Accurately allocate recoverable expenses across tenants, maximizing receivables and in turn profitability.
Ensure billing is accurate and as per lease terms, identify any financial miscalculations and recover overpayments.
Abstracting multilingual leases require specialized skill. Our team is adept in abstracting multilingual leases using advanced solutions by extracting and managing critical lease data while ensuring accurate and exact interpretation.
Want to learn more about how we can help you improve data quality and optimize its potential?