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Operating Expense Review

 

How do I know if my office or retail lease portfolio needs to be audited? Am I being billed for operating expenses that I shouldn’t be? Can I get a second set of eyes to confirm my current lease audit firm or lease admin partner is capturing all available savings opportunities?

 

 

These are important questions to be asking about your leases and occupancy costs. Every year, Chelepis helps commercial tenants find the answers, giving them assurance that they don’t overpay operating expenses based on the terms originally negotiated in the lease. That’s why we have developed customized Occupancy Cost Control Programs to assist your real estate team execute a plan to reduce operating expenses.

 

With a Chelepis Operating Expense Review, a senior staff member will review a sample of your lease portfolio including locations suggested by us and any others of specific concern to you. We’ll provide our feedback on potential savings identified with input on how to implement a custom occupancy control program. After we work with you to identify the target list of sample locations, the following documents are all we will need to initiate a no-obligation Operating Expense Review:

  • Copies of your lease and amendments for each sample location

  • Copies of the past three to five years of annual operating expense reconciliations

 

Whether you have an internal audit team, a third-party audit firm, or lease admin facility partner, a Chelepis consultation is a valuable addition to the quality assurance programs required of any sized company to validate key targets in your real estate department.

 

Chelepis is ready to help you be proactive in validating that all the operating expenses you are paying follow the lease terms, and that your current processes are as effective as possible.

Case Study

Landlord failed to reconcile actual electricity costs... Read more

 

 

 

 

 

 

 

Director, Lease Services

Mark Barrett

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