Lease Administration Defined
skip to navigationSRS Real Estate Partners offers Full Real Estate Administration Services and Critical Date Management. Both services mitigate the risk of critical dates and lease data, thus reducing a client’s exposure. Added benefits include reducing employee overhead costs, centralizing lease data into a web accessible application, generating savings through desk-top audits and ensuring timely management of subtenant receivables.
We also offer Desk-Top Audit Services for companies that perform lease administration in-house but require assistance in reviewing year-end, pass-through reconciliations.
Full Real Estate Administration
For Real Estate Administration clients, we perform the following day-to-day tasks:
- Abstracting locations into our web-based lease administration application called Harbor Flex (or an alternate database of the client’s choosing)
- Scanning legal documents which are then accessible through Harbor Flex
- Monitoring all critical dates
- Processing monthly lease payments
- Performing desk-top audits on monthly invoices and year-end reconciliations
- Managing subleased locations, including invoicing and collections
- Processing estoppels and SNDAs
- Facilitating certificate of insurance requests
- Acting as landlord’s point of contact
- Generating monthly management reports
- Training client personnel on Harbor Flex usage
- Providing read-only access to data in Harbor Flex to designated client contacts
Critical Date Management
For Critical Date Management clients, we perform the following day-to-day tasks:
- Abstracting locations into our web-based lease administration application called Harbor Flex (or an alternate database of the client’s choosing)
- Scanning legal documents which are then accessible through Harbor Flex
- Maintaining accurate data in Harbor Flex
- Monitoring critical dates
- Generating monthly management reports
- Training client personnel on Harbor Flex usage
- Providing read-only access to data in Harbor Flex to designated client contacts
Desk-Top Audits
Desk-Top Audits should be performed routinely because operating expenses and property taxes can represent a significant portion of total occupancy costs. We minimize lease costs and ensure correct billing errors thereby ensuring accurate payments. The goal is to identify and recover amounts paid in excess of contracts, to initiate changes in the methodology for billing these charges, and/or to facilitate modifications to prevent future overcharges.
For Full Real Estate Administration and Desk-Top Audit clients, we perform the following tasks:
- Review of pass-through/CAM reconciliations for mathematical errors, lease exclusions, incorrect prorate share and caps
- Review supporting documentation such as invoices and tax bills on file
- Identify additional documentation required from landlords
- Review payment histories to ensure escrows were properly applied by landlords
- Identify unusual increases and discrepancies
- Identify pass-through/CAM reconciliations due, but not yet provided by landlords
- Communicate variances or discrepancies with the landlord and recover funds or explanation with support documentation for the pass-through/CAM charges in question
- Present results and recommendations to client
- Recommend a full outside audit should circumstances warrant it
