Business owners who are inexperienced with commercial real estate are often unable to perform true “apples to apples” analysis when comparing different facility choices. It can be complicated, even for the professional Tenant Rep, to compare the different lease types such as: Full Service, Gross, Semi-Gross, Net, Triple Net, etc. Additionally, each Landlords interior finish levels, Tenant Improvement (TI) contributions, lease incentives and a myriad of other factors need to be part of the comparison equation.
This confusion leads many owners to make less than optimum decisions and may end up PAYING TOO MUCH RENT!
Companies which do not obtain accurate, current market research may pay too high a rental rate. Landlord “flexibility” changes constantly depending upon many factors including current occupancy rates in both their building and the competition, lease length, tenant’s use, parking requirements, financial strength of tenant, etc.
Negotiations are especially important with lease renewals, since Landlords are most competitive when the space is placed on the open market. Because of these common mistakes TelekomXChange, has launched a program to help its Commercial Customers to stop losing money on their existing Commercial Leases.
While the costs of Commercial Leases is the second highest general ledger expense besides the cost of employees and salaries, Businesses and Organizations alike have no idea whether or not what they are paying on their Commercial Leases is correct.
The problem is that the Property Management Companies that administer the Commercial Leases for the Landlord, are usually not associated in any way with the Real Estate Attorney who wrote the Commercial Lease that was signed by the Tenant and, each year, in buildings that have multiple Commercial Tenants, the apportionment of charges to each Tenant in each building becomes an inexact science, because each Lease for each Tenant has different covenants.
The Commercial Leases themselves are incomprehensible. And, if their Accounts Payable Department doesn’t pay the Commercial Leases, the Tenant pays hefty late fee penalties. Landlords want happy Tenants. Inadvertent overcharges on how each Commercial Lease is a matter of judgment. There is no oversight that protects the Tenant.
Through a strategic partnership with a Commercial firm that can service both the U.S. and Canada, and has performed its services for over 20 years globally, TelekomXChange is encouraging those Companies and Organizations who are spending over $20,000 per month their main facility for their Commercial Lease, and who are in their second year or longer of the current lease term to sign up without any cost for a program that ensures that they are in total control, as the Commercial Lease Auditor will present to them all of the billing errors that have occurred during their Lease, and ask the Tenant to approve their recommendations before the Commercial Lease Auditor presents their findings to the Landlord.
If there are any retrospective and/or prospective savings identified, the service provider will split out the cost savings with them on a performance based shared benefit basis.
To see if there is an opportunity, Clients can sign up for the program by simply providing a copy of their Commercial Lease for every property that they want the Commercial Lease Auditor to review. Signing up for the program is risk-free, as if there is no recovery, there is no fee.
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Fax Number: 1(877) 472-8097