Lease Management Professionals, if your head is spinning trying to understand and implement today’s leasing standards, you’re not alone! Consider this:

Leases vary in length. Monthly lease payments can vary over the term of the lease. Most leases are non-cancelable, although the terms of individual leases may differ slightly. And don’t forget, most leases also have renewal options.

In addition…

    • Some leases contain early termination options which can be exercised by the brand under certain conditions.
    • Most leases require payment of a specified minimum rent PLUS a contingent rent based on a percentage of a store’s gross sales in excess of a specified threshold.
    • Many leases contain opening and operating co-tenancy provisions that allow a company to pay alternate rent in lieu of minimum rent if certain conditions exist.
    • Leases contain other provisions that, if in effect, could also affect the amount of minimum rent that a brand/company is required to pay.
    • Leases for corporate office space are generally longer in term but contain many of the same provisions as retail leases.
    • Most leases require payment of ancillary costs such as real estate taxes, insurance, and common area maintenance costs — all in addition to the minimum rent.

Accounting controls are necessary to operate efficiently. Building a sound financial reporting foundation is critical.

Obtaining the education needed to get ahead, and stay there, as a Lease Management Professional should be a top priority in 2024.

Yes. Procedures vary and are specific to each type of enterprise and management needs. We’ve got this covered.

National Real Estate Tenants Association debuts CCLA 3 System Proficiency in our next 10-week Certified Commercial Lease Administrator Certificate Training educational series starting April 9, 2024.

Learn more and register today.

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