Written for the person who owns the leases
Dental, medical and physician groups
You acquired most of these practices, and you acquired their leases with them. No two are drafted the same way, nobody read them at the time, and the reconciliation statements go to accounts payable.
The portfolio below is an illustration, not an average: change the sites, the footprint and the rate on the calculator and the arithmetic follows your own estate.
The arithmetic on a portfolio this size
90 sites at 3,200 square feet and $11.00 per square foot is $3,168,000.00 of operating expenses billed in a year. At the $63,360.00 to $158,400.00 band typically recoverable on review, that is what a first pass puts at issue, before the years still open multiply it.
Base year deflation and category mismatch
Base year understated or missing categories present in comparison years
Remeasurement and load factor
Rentable area raised mid-term without a remeasurement right; BOMA version switched
Tenant-specific services in the shared pool
Work on one tenant's premises, after-hours HVAC for one occupant, or a service billed to all and consumed by one
What your lease forms have in common
A roll-up carries every lease form its acquisitions were signed on: different landlords, different base years, different audit clauses, different measurement standards. That is exactly the portfolio a rate card cannot price and a single audit engagement cannot cover. Base-year and remeasurement errors are the ones that survive an acquisition, because the figures were agreed by somebody who no longer works there.
Your portfolio will split three ways
Some of your leases will let us act for you and take a share of what comes back, some bar it and are priced flat, and some bar a representative altogether and run in self-service with your team sending what we prepare. You get the split, site by site, with the clause reason for each, before anything is signed.
Start with five representative sites
Pick five leases that look like the rest of the estate, send the lease and the last reconciliation for each, and you get the findings, the open years and the route per site. It is the fastest way to know whether the same error is on all of them.