Third Party Lease Audit

A financial services company requested that audit reviews be performed on its leases by its outsource provider of real estate services. The vendor was already managing the large regional portfolio of owned and leased properties, concentrating on strategic planning, transactions, and administration.


Solution

CRS was retained by the service provider as an independent auditor of leases where the client was a tenant, from small retail locations to large office facilities.  CRS issued a report for every location reviewed, giving the service provider and client specific comments and analyses.

The overall lease audit program was managed using LeaseBase™, our proprietary web based reporting platform, that enables historic tracking of issues, activities, and savings. Utilizing the standard status reports generated in LeaseBase, CRS kept all parties informed and established a mechanism for expediting follow-up and claim resolution.


Result
Over 2.3 million dollars in savings or over $50,000 per location and nearly $2.00 per square foot.