When we onboard a new lease administration client, identifying erroneous charges is standard practice. The result is an immediate return on the investment clients make in partnering with National Lease Advisors. We recently had a client with 400 leases move to NLA from a global real estate firm. Following a smooth transition, we dug into the leases to ensure charges were appropriate for expense and income leases.
What we found was the previous provider missed many critical rent dates, security deposit returns, and operating expense protections. Free rent had not been taken on many leases, operating expenses were continued to be paid even after the lease base year was reset, and operating expenses were not being reviewed to see if they were in compliance with the lease. In total, we were able to save our new client over $300,000 when we corrected these mistakes and reconciled with landlords.
National Lease Advisors performs our lease administration service domestically and provides a dedicated, experienced team for each of our client accounts. This results in us taking ownership of the integrity of data and rent payment accuracy, as well as having the knowledge to identify landlord errors.