Lease Audit
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Transcript of Lease Audit
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Lease Audit Services
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AmCorp Management, Inc. has been highlighted by the following media outletshighlighted by the following media outlets.
Plus many more…
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AmCorp Management, Inc. is the Nation’s most successful Lease Analysis Firm
AmCorp’s lease auditing team’s sole practice is to identify and secure overcharges made through lease overpayments.
most successful Lease Analysis Firm.
secure overcharges made through lease overpayments.
We have the highest recovery rate in the industry and our experts will precisely analyze landlord fees and your payments and provide you a
i h fi di W ill h l dreport with our findings. We will then plan and manage recovery negotiations with your landlord, subject to your approval.
We are a performance and contingency‐based company which means p g y p ythere are no recovery fees unless we are successful in securing your overpayments.
Above all we respect the delicate tenant landlordAbove all, we respect the delicate tenant‐landlord relationship and ensure fair and honest practicesin dealing with your lease negotiations. With an uncompromising process we are true advocates of your rights as a tenant.
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AmCorp Management, Inc. is the Nation’s most successful Lease Analysis Firm
We have had the opportunity to serve and recover money
most successful Lease Analysis Firm.
From excess lease payments for many well known clients. (Here are just a few)
Chase Bank (Bank One), First Data Corporation, ReMax Realty, New England Financial, R. T Welter & Associates, Inc., Aim Tax Advisors, Automated Office Systems, Inc., , , y , ,Cash Flow Direct, Inc., Arizona Heart Institute, ScottsdaleRadiology Group, Scottsdale Orthopedic Associates, Kilpatrick, Luster & Co., CPA’s, LLC, Price–Kong & Co., CPA’s,Kilpatrick, Luster & Co., CPA s, LLC, Price Kong & Co., CPA s, PA. Coldwell Banker Realty, Olympic Mortgage, Pacific Coast Mortgage, Interlink Mortgage Corporation,Plus many morePlus many more…
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The problem is highlighted in theseNational Lease articles
"OFFICE TENANTS CHECK FOR LEASE OVERCHARGES“ Wall St. Journal
National Lease articles
Uncle Sam isn't the only one performing audits these days. More and more office tenants are taking a closer look at their landlords' books.The goal: to make sure they are not being overcharged.
“TENANTS ARE LOSING MONEY” The Chicago Tribune"Eighty percent of all commercial tenants are overcharged by their landlords.“
Sarbanes‐Oxley and Control of Corporate Real Estate LeasesFor corporate real estate managers, Sarbanes‐Oxley presents a problem because much of theOxley presents a problem because much of the data they report to management are incomplete and only marginally reliable.
How do you know if you have un-known lease issues?
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The problem persists because
• Landlords fail to properly manage and administer facilityexpenses and issue tenant adjustments
• Landlords are unaware how to adequately measure the square footage of their facility
• Landlords do not secure proper tax adjustments of their property
• Tenants are not aware of the practice of getting standardized measurement verifications before they sign their leasemeasurement verifications before they sign their lease.
• Tenants unreservedly trust the Landlords practices and information
• Tenants are busy running their business and do not have the time, resources or knowledge to properly review the landlords billings
Do you know if you are overpaying lease fees?
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Potential areas for overcharges.
RentInaccurate facility measurement ‐ Improper Increases (CPI’s, Step‐Ups.)Rent Abatements ‐ Co‐Tenancy Requirements ‐ Offsets for TaxesCommon Area Maintenance (CAM) Escalations / Operating ExpensesCommon Area Maintenance (CAM) Escalations / Operating ExpensesDeclaration of Covenants, Conditions, & Restrictions (CC&R’s) Association Dues ‐ Reciprocal Easement Agreements (REA’s) Capital Costs ‐ Pro‐rata Shares ‐ Administrative Fees ‐ Management Fees Home Office Charges Tenant Specific Charges OriginalFees ‐ Home Office Charges ‐ Tenant Specific Charges ‐ Original Construction Costs / Initial Installations ‐ Building Related Costs vs. Common Area Related Costs ‐ Proper Base Year Charges ‐ Caps, Fixed Increases, CPI Adjustments, etc.Real Estate TaxesReal Estate TaxesBuilding Taxes ‐ Land Taxes ‐ Common Area Taxes ‐ Pro‐rata Shares Assessed Values ‐ Valuation Methods ‐ Fiscal Tax Years ‐ Personal Property Taxes ‐ Consulting Fees Base Year Charges ‐ Caps Fixed IncreasesBase Year Charges ‐ Caps, Fixed Increases, CPI Adjustments, etc.Utilities CAM ConsumptionElectric ‐ Water / Sewer ‐ Trash ‐ HVAC ‐ Etc.
Are you certain that you are not over paying for any of these items?
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AmCorp Management Lease analysisand report
A lease expenses analysis will:
and report.
A lease expenses analysis will:
• Verify fees that you are being overcharged
• Verify fees that your company is not obligated to pay
D t i f d th t f• Determine fees and the amount of money we can recover
• Outline the process in which AmCorp Management will l d k hlocate and recover any unknown overchargesand expenses to you and your business
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The Analysis Process.
PRE-AUDIT DATA REVIEWWe will collect and review the necessary lease data to yverify whether you are a lease audit candidate.
FACILITY MEASUREMENTOnce we determine that you are a lease audit candidateOnce we determine that you are a lease audit candidate we will measure your facility and verify it meets BOMA or state standards or as lease specifies.
PREPARE YOUR AUDIT REPORT
The pre-Audit report will include:
Initial measurement fee
Processing and recovery fees
Initial recovery amount
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The Recovery Process.
INITIATE LAND LORD COMMUNICATIONSOnce you have reviewed the Report our experts willOnce you have reviewed the Report our experts willProceed with professional and non-confrontational communication with your landlord. We simply ask them to confirm and explain the actual charges that disagree with our findings.
CONDUCT SETTLEMENT DISCUSSIONSAfter the landlords response we will proceed withAfter the landlords response we will proceed withsettlement negotiations with your landlord and proceed with the appropriate avenue to resolve the lease discrepancy.
RESOLVE CLAIMAll negotiations are done professionally, however Our main concern is securing your g yoverpayments.
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The Next Step
YOUAuthorize the auditSupply the necessary data pp y y
(Copies of lease documents and expense records)
A CAmCorpAnalyze leaseAnalyze lease paymentsAnalyze expense recordsAnalyze expense recordsVerify facility and building square footageProvide Lease Audit ReportI iti t d l t ttl t ith l dl dInitiate and complete settlement with landlord