Law Firm Saves $24,000

As part of our lease administration service, the team at NLA reviews all of our clients’ CAM budgets and reconciliations. For one law firm, the result was an immediate savings of $24,000. At first glance, the landlord’s calculation appeared correct and the increase in expenses over the prior year was reasonable.  However, looking further into the lease document, we identified a concession negotiated by our client’s broker in which the CAM charges were to be abated during the year. It is not unusual for the property manager or accountant to overlook a concession like this that can get buried in the lease. We presented our findings with the landlord and they quickly acknowledged the mistake, resulting in our client saving $24,000 over the course of the next year!