Lease Administration and Management
Newmark Global Corporate Services (GCS) Lease Administration and Management clients often reap first year savings of up to four percent (4%). Lease Administration and Management services provide lease abstraction; rent and tax payment and processing; annual reconciliation reviews and real estate database creation and maintenance.
Recognizing that an organization’s requirements for Lease Administration and Management services must align with its business goals and initiatives, Newmark has successfully managed and administered leases for over 50 years. Today, GCS provides services to over 160 clients with more than 20,000 leases.
GCS Lease Administration services utilize a central database for all relevant information (space, cost, options, expiration dates and escalations) ensuring critical dates are managed and opportunities to reduce costs are identified and implemented. NGKF finds and resolves landlord overcharges, avoids unnecessary lease holdovers and integrates our services with real estate advisors to capitalize on market opportunities and generate return on investment (ROI). Typically, GCS Lease Administration services have a cost recovery period of less than one year, with clients realizing savings of approximately two to four percent (2%-4%) of their total real estate cost in the first year alone.
GCS Lease Administration experts have an average of 15 years of experience in real estate and a cross functional backgrounds in property management, accounting, corporate real estate and real estate law. These professionals ensure lease compliance while identifying potential risks and opportunities for savings.
GCS Lease Administrators are “technology-agnostic” but experienced with all Lease Administration and Management software. GCS Lease Administrators can also work with an organization’s existing technology or recommend and implement a technology based on a needs analysis. Integrating technology with Lease Administration services is required to reduce the time and costs associated in the lease administration process.
The unique methodology utilized by GCS Lease Administrators is another critical component; Key Performance Indicators (KPIs) are quickly established to measure overall quality and performance. Lease Administration service packages are offered in three tiers and are fully customizable. Plus, organizations can evaluate and modify their services regularly.