green bar

COVID-19 Information

COVID-19 and the “New” Normal 2020 Operating Expenses

There has never been a more critical time to have a professional Lease Audit your expenses.

The global pandemic has changed many aspects of how we ‘do business,’ and real estate leasing and commercial leasehold expenses are no exception. Many companies have down-sized, furloughed workers, or shifted components of their businesses to a ‘work from home’ environment.

Dramatic occupancy level shifts and new health requirements have created shifting building scopes of service and landlords have had to adjust to billing tenants in unfamiliar territory. And as many large lease holders reconsider their space needs and landlords look to their future mortgage liabilities, the confluence of factors heightens the chances of commercial tenants facing overcharges in this potentially ‘creative’ 2020 billing period.

Areas of concerns include:

  • Cleaning
  • HVAC and Utility Charges
  • Insurance
  • Real Estate Taxes
  • Caps on Controllable Expenses (are Covid-related expenses ‘Uncontrollable?’)
  • 2020 Base Year Leases