A client was facing a significant challenge with the management of lease agreements for the 3,500 retail stores that were acquired through a business takeover. The lack of a centralized lease management system was causing difficulties for the in-house team in managing the leases and keeping track of all the agreements.
Set up an in-house lease management team consisting of lawyers and accountants:
Centralized real-estate accounting
Lease abstraction in a unified format
Lease management in a centralized real-estate management software
Rental property comparative research and financial analysis
The establishment of the in-house lease management team had several key benefits for theclient. Firstly, it gave them better control over their leases and ensured that all agreements were being managed in an organized and centralized manner. Secondly, the team brought in specialized skills and expertise in the field of lease management, which helped to improve the accuracy and timeliness of the management process. Lastly, the in-house team reduced the dependence on external service providers, which in turn, reduced operational costs and improved the overall profitability of the business.