Lease audits help you gain control over one of your largest and most critical expenses: occupancy costs

Real estate can be one of a company’s most significant expenses, and commercial leases are one of its key components.  Up to 70% of the cost of a lease can represent the tenant’s obligation to share in building operating costs, taxes and utilities.  Because leases and these charges can be complex, it is common for these bills to be incorrect.

Unfortunately, most leases place the burden on the tenant to identify errors and bring them to the landlord’s attention, and to do so within a limited time period.  Because most tenants don’t have the time or resources to do this, they simply pay their bills as rendered.  This can lead to overpayments that can recur year after year. 

What is a Lease Audit?

A lease audit is a comprehensive analysis of lease terms and validation of charges to ensure that amounts billed are correct.  It involves a disciplined review of lease documents, invoices and various other materials.  It can also include a review of the property manager’s books and records as well as public records and other data.

Lease Auditing Benefits

• Brings leases back in line with original financial projections
• Recovers overpayments
• Provides security in knowing that leases are in material compliance
• Increases landlord awareness of errors
• Improves internal controls
• Identifies areas for improvement of future leases