San Diego, California / September 14, 2020 – National Lease Advisors, Inc. today announced the addition of Tiffany Smithson to the team as its Director of Client Services. Tiffany will assume a leadership role in the company’s lease administration division.
As a result of the COVID-19 pandemic, many companies have negotiated rent deferrals with their landlord. Under a normal environment, ASC 842 would require a remeasurement of the right of use asset and lease liability. Of course, this is not a normal environment.
Under normal circumstances, a 2-4% increase in operating expenses could be expected. However, in our current COVID-19 environment where businesses are struggling to control costs, properties should be looking to keep CAM budgets flat for the upcoming year.