In today’s competitive business climate, companies need to operate efficiently and economically, keeping a watchful eye on the bottom line. Yet, 85% to 90% of commercial leases in the United States include rent and rent related clauses that are incorrectly calculated year after year. The result can be hundreds of thousands of wasted dollars, depending on the number, sizes and lengths of these leases.
Even companies with top-notch corporate real estate teams find they lose significant money through billing errors related to miscalculated cost escalations, allocations, construction overruns, personal property taxes and real estate property taxes. These miscalculations can add up to six-figure mistakes over the course of one or more years.
Errors are often not attributed to bad-faith or incompetence, they occur due to a lack of time and attention to these costs and fees simply because real estate professionals find they have other pressing matters to attend to on a daily basis. As a result, companies overpay millions of dollars in unnecessary rent payments and associated expenses every year. Imagine these overcharges compounded over a five to ten year lease term. Add to this miscalculated personal property taxes on an annual basis. The cumulative financial losses can be staggering.
These experts bring their respective knowledge, experience, and professional contacts to bear on behalf of our clients to identify and rectify these real estate miscalculations. Furthermore, we create and negotiate long-term solutions to ensure these discrepancies do not reoccur, saving hundreds of thousands of dollars in potential future losses