Take a proactive approach to assessing your lease administration.
Prior to establishing a comprehensive audit program, Chelepis offers a lease administration assessment to review your current processes and identify areas of improvement and potential for immediate savings.
A selective assessment can compare a sample of leases to their abstracts including critical dates and rent payments.
A comprehensive assessment would include:
Ensuring lease abstract accuracy
Evaluating timeliness of rent payments and estimates
Assessing responsiveness to landlord communications
Confirming receipt of annual reconciliations, statements, or other rent related notices
Establishing best practices for the estoppel process
Cataloging of key lease dates
Additionally, an effective lease administration team will create a database of key lease dates for every location that requires a reconciliation of tenant’s estimated payments. Chelepis has trained lease admin teams on how to create and maintain such reconciliation tracking databases.
Lease Admin Process Assessment