Written for the person who owns the leases
Veterinary and childcare groups
Long leases with institutional landlords, signed years ago, reconciled every spring by somebody who has never read them.
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
40 sites at 4,000 square feet and $10.00 per square foot is $1,600,000.00 of operating expenses billed in a year. At the $32,000.00 to $80,000.00 band typically recoverable on review, that is what a first pass puts at issue, before the years still open multiply it.
Tax bill tie-out and proration
Billed amount against the actual bill; fiscal versus calendar year proration
Special assessments and improvement bonds
Mello-Roos, business improvement districts, landscape and street assessments require explicit authorisation
Base year deflation and category mismatch
Base year understated or missing categories present in comparison years
What your lease forms have in common
A long term with a stable landlord is where a wrong base year does the most damage: it compounds quietly for a decade, and nobody revisits the figure. Tax pass-throughs and special assessments are the other pattern, because these sites are often on parcels that get reassessed or levied for district improvements.
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.