If you have ever been involved with an on-site lease audit of a landlord’s books and records, you would know that landlords hate them. With the widespread use of digitized record-keeping, many landlords are opting to send such records to their tenants electronically. This article discusses the benefits and limitations of sharing digital copies of Operating Expense/CAM records, and suggests sample lease language for that purpose.
Tags: blog, CAM, Common Area Maintenance, CoreNet, Gross Up, Grossing Up, Lease Accounting, Lease Audit, lease auditing, Lease Management Software, Lou Ferro, Marc Betesh, Operating Expenses, real estate operating expenses, Real Estate Tax, Retail, visual lease
Not-So-Impending Doom Finalizing the changes is taking much longer than anticipated. This means the effective date of the changes will be pushed off farther into the future, giving companies more time to deal with the impact. As you have probably heard, extensive public comment over the proposed changes in the Boards’ original August 2010 Exposure [...]
Tags: Commercial Leasing, FAS 13, FASB, Financial Accounting Standards Board, IASB, Jason Aster, KBA, KBA Lease Services, Lease Accounting, Lease Audit, lease auditing, lease audits, Lease Tips, Leasing, Marc Betesh, Real Estate, real estate leasing, real estate operating expenses, Update, visual lease
It’s the end of April, and you should have received your operating expense and tax reconciliations from 2011. But you face a problem: the receipt of these statements starts the clock on when you must notify your landlord of errors. If you don’t, your statements are “deemed” conclusive and binding, regardless of how blatant or obvious errors may be.
This article will show you how to deal with this costly restriction and to avoid it in the future.
Tags: AECRE, building occupancy, building operating expenses, CAM, Common Area Maintenance, CoreNet, DLA Piper, FASB, IASB, Lease Accounting, Lease Audit, lease audit rights, lease auditing, LeaseTips, Marc Betesh, Michael Meyer, office lease, Operating Expenses, Pass-throughs, real estate operating expenses, Real Estate Tax, robert nash, Schulte Roth, SIOR, Speaking
Why would a tenant’s operating expense bill be 10 times higher than expected just 2 years after occupying new space? Many real estate professionals will tell you that 80-90% of all corporate leases suffer from deficiencies; the question is–can you identify and remedy them? We’d like to arm you with some information to help navigate these waters and avoid some of the more dangerous issues. This LeaseTip addresses the dilemma a tenant that moves into an empty building can face.
Tags: building occupancy, CAM, Commercial Real Estate Investment Magazine, Common Area Maintenance, empty building, Gross Up, Grossing Up, Lease Accounting, Lease Audit, Lou Ferro, Marc Betesh, Operating Expenses, Pass-throughs, Strategies, vacancy, visual lease
Don’t miss the discussion between Andrew Zezas of SIOR NJ and Marc Betesh of KBA Lease Services. Together they outline the upcoming changes to lease accounting under GAAP and their potential impact on commercial real estate, developers and occupants.
Tags: FASB, IASB, Lease Accounting, Marc Betesh, SIOR
Duke Long interviews Marc Betesh, President and CEO of KBA Lease Services, about upcoming FASB changes at Corenet’s Chicago conference.
Tags: CoreNet, Duke Long, FASB, Marc Betesh
Realtor magazine, the official magazine of the National Association of Realtors, talks FASB with Marc Betesh.
In the article, titled The Facts On FASB, Realtor Magazine’s Mariwyn Evans questions FASB’s proposed changes to lease accounting rules.
Tags: FASB, Lease Accounting, Marc Betesh
Duke Long interviews Marc Betesh about upcoming FASB changes at Corenet’s Chicago conference.
Tags: blog, CoreNet, Duke Long, FASB, Lease Accounting, Marc Betesh
Tomorrow’s webinar will explore the underlying theory behind the proposed FASB changes. IFMA, a professional association for facility management professionals, and KBA Lease Services, a nationwide lease auditing firm, will outline the potential ramifications and offer advice as to best prepare for the impact. Topics Include: Why the Changes Were Proposed What Will Change [...]
Tags: FASB, IASB, Lease Accounting, Lease Audit, Marc Betesh, Press Release
We recently had the opportunity to chat with Duke Long and Jason Sandquist from CREpodcast about the proposed FASB/IASB lease accounting changes and how all parties can prepare.
Tags: Duke Long, FASB, Jason Sanquist, Lease Accounting, Marc Betesh, Podcast
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Size Matters!Why All Lease Abstracts are Wrong!Bringing the Field to the Desk: Lease Audits in a Digital AgeFASB / IASB Lease Accounting Changes – Don’t Worry, Be Happy!
How can the timing of my lease audit affect the results?Do I have the right to audit my lease?What can be wrong with my bills?How will auditing my lease affect my relationship with my landlord?
