Lease

Lease Audit is a broad topic that means different things to different people. In most cases Lease Audit is associated with auditing Operating Expenses ("OE"). OE reconcilliations are an annual ritual in which the Tenant scrutinizes the Landlord's numbers for variable and reimbursable expenses. This...

Auditing Operating Expenses (O.E.) is like going to the Dentist without Novocaine. That's because the audit process is typically arduous, confusing, convoluted and time consuming. On the other hand, done successfully, an audit can uncover mistakes & errors, over-billing, duplicate invoicing, non-allowable charges, etc., etc....

Most commercial real estate lease transactions include some construction modification to the space ("Premises"). The improvements can be as simple as paint and carpet, or more complex with demolition and new construction. Negotiating the Tenant Improvements ("TI's") often is the most crucial part of the...