We partner with tenants exclusively to uncover their portfolio’s hidden costs to optimize value.
2024 is shaping up to be a year of implementing strategies for organizational resilience and growth during uncertain times. Fewer companies are functioning on a hybrid model as compared to the immediate aftermath of the pandemic. Many companies have asked employees to come back and are continuing to use their existing space. Throughout the year we are projecting to see an increase in fees related to utilities, wages, insurance and more.
In the dynamic world of commercial real estate, it is crucial for businesses to proactively manage their operational costs. Lease expense reviews are instrumental in this goal. Cresa Toronto's team of experts enable tenants to thoroughly assess their leases and often recoup overlooked funds, mitigating the impact of rising expenses.
SERVICE LINE ONE-PAGER
Does your 2024 additional rent estimate fall outside the standard 3-5% range?
A Lease Expense Review is an invaluable tool to identify billing errors that often occur in commercial real estate leases.
Download this Lease Expense Review one-pager to explore the value of conducting a Lease Expense Review, and when is a good time to do so.
2024 is shaping up to be a year of implementing strategies for organizational resilience and growth during uncertain times. Fewer companies are functioning on a hybrid model as compared to the immediate aftermath of the pandemic. Many companies have asked employees to come back and are continuing to use their existing space. Throughout the year we are projecting to see an increase in fees related to utilities, wages, insurance and more.
In the dynamic world of commercial real estate, it is crucial for businesses to proactively manage their operational costs. Lease expense reviews are instrumental in this goal. Cresa Toronto's team of experts enable tenants to thoroughly assess their leases and often recoup overlooked funds, mitigating the impact of rising expenses.
SERVICE LINE ONE-PAGER
A Lease Expense Review is an invaluable tool to identify billing errors that often occur in commercial real estate leases.
Download this Lease Expense Review one-pager to explore the value of conducting a Lease Expense Review, and when is a good time to do so.
We partner with tenants exclusively to uncover their portfolio’s hidden costs to optimize value.
While mistakes made by landlords are not intentional, they are inevitable. Working with – and not in opposition to – your landlord, our advisors initiate an inquiry on basic lease compliance and fairness.
As your workspace continues to be underutilized, isn’t it time to get a second opinion on your commercial lease, to ensure every penny is accounted for? Talk to your Cresa Advisor today to review your 2023 estimates.
Your 2023 operating cost estimates have likely increased.
LEASE EXPENSE REVIEW
We know that for most organizations, a hybrid structure is inevitable. But a hybrid model isn’t one size fits all – it’s a spectrum. Understanding where your organization falls on the spectrum is the key is creating a sustainable workplace strategy.
Your 2024 Operating Cost Estimates Have Likely Increased.
LEASE EXPENSE REVIEW
According to most leases, Landlords have the right to make adjustments in their calculation methodology which can increase or decrease operating costs, if they determine it is reasonable to do so. As a Tenant, it is crucial to look at the language in your lease to understand the rights required to challenge the Landlord’s determination of Additional Rent. In many leases, Tenants only have a limited amount of time to ask for support documents/information from the Landlord.
Understanding your rights, based on your specific lease, is important, particularly if you are being charged more than your appropriate share as per your lease. So, reading the fine print and being timely in terms of requesting and reviewing the Landlord’s support materials is more important now than ever.
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According to most leases, Landlords have the right to make adjustments in their calculation methodology which can increase or decrease operating costs, if they determine it is reasonable to do so. As a Tenant, it is crucial to look at the language in your lease to understand the rights required to challenge the Landlord’s determination of Additional Rent. In many leases, Tenants only have a limited amount of time to ask for support documents/information from the Landlord.
Understanding your rights, based on your specific lease, is important, particularly if you are being charged more than your appropriate share as per your lease. So, reading the fine print and being timely in terms of requesting and reviewing the Landlord’s support materials is more important now than ever.
Lease Expense Review
Additional rents are on the rise - Market Trends for 2023
Lease Expense Review
When is the ideal time to do a lease expense review
Lease Expense Review
Major Captial Expenditures Pass-through
Lease Expense Review
We recommend clients perform a desktop review annually; however, performing an in-depth lease analysis every year will ensure consistent compliance with the lease over the term.
We provide customized attention to ensure that your best interests are at the forefront of everything we do.
A Desktop Review is a high-level review of the expenses paid, compared to what is indicated in the lease agreement. A Lease Analysis is a qualitative, in-depth investigation of all lease clauses and charges.
Lease Expense Review is an investment that pays off. Experience shows that close to 70% of the lease documents our experts reviewed contained errors. Our goal is to achieve cash recovery and cost avoidance for you while eliminating potential risks from your lease terms.
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Frequently Asked Questions
What are the most common hesitations clients have about Lease Expense Reviews?
Given the multitude of tasks that clients typically have on their plate these days, they often don't prioritize reviewing their lease expenses, because there's almost an assumption that the landlord has been doing it correctly. However, that's not always the case. As a partner to the occupier, we have developed a detailed process of going through this so that it isn't time burdensome on the tenant themselves.
Our Experts
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