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 and 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) to 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:
- Lease Abstraction - Collect, standardize, and consolidate unstructured data and convert in user-friendly format to make analysis easier, simpler, and faster
- Due Diligence – Extract critical details including deed of trust, promissory note, identify inefficiencies and improve revenue opportunities
- Lease Data Migration – Convert, migrate to, audit and integrate lease data with all the major accounting and financial and property management systems
- CAM Reconciliation- Accurately allocate recoverable expenses across tenants, maximizing receivables and in turn profitability
- Lease Audit Services- Ensure billing is accurate and as per lease terms, identify any financial miscalculations and recover overpayments
- Multilingual Leases – 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.
To learn more about our portfolio of services or individual offerings please get in touch with us and we will be happy to assist.