Operating Expenses and services contracts

  • Pro rata share miscalculations
  • Base year inadequacy
  • Expense stop inadequacy
  • Charging of excluded costs
  • Improper charging of capital expenditures
  • Incorrect calculation of savings for allowable cost-saving capital items
  • Misallocation of costs among buildings
  • Failure to bid service agreements
  • Charging above-market fees for non-arms-length services
  • Excessive management fees
  • Inclusion of profits for building materials
  • Improper allocations of expense pools
  • Marketing fund charges
  • Excessive administrative fees
  • Improper calculation of association dues
  • Improper inclusion of unrelated costs

Base Rent

  • Per square foot rent miscalculations
  • CPI miscalculations
  • Rent commencement errors

Space Measurement

  • Improper inclusion of vertical penetrations
  • Use of incorrect BOMA standard for the building’s classification
  • Improper inclusion of exterior building areas
  • Measurement to incorrect interior surface
  • Mismeasurement of rentable and common areas

Real Estate Taxes

  • Failure to apply tax refunds
  • Failure to pursue tax certiorari consistently from year to year
  • Improper inclusion of personal property taxes
  • Improper inclusion of income taxes
  • Failure to properly account for costs of tax professionals

Electric and Other Utility Charges

  • Misapplication of rates
  • Use of incorrect rate schedules
  • Addition of surcharges to utility costs
  • Wiring of meters to unrelated spaces
  • Misreading of meters
  • Miscalculation of multipliers
  • Incorrect assumptions as to usage
  • Incorrect counting of equipment for surveys
  • Failure to properly notify tenant of survey results
  • Excessive charges for chilled water and condenser water.

and so much more ...

  • Bring your leases back in line with their original financial projections
  • Recover overpayments
  • Know that your leases are in compliance
  • Increase landlord diligence
  • Improve your internal controls
  • Improve future leases