Lease Audit
A lease audit is crucial for identifying and recovering past overcharges while also preventing future ones. However, a thorough audit requires expertise and a professional approach.
At Richvale Consulting, we have decades of experience in lease auditing, delivering accurate reviews and effective resolutions with landlords. We specialize in uncovering errors and have helped clients recover millions in overpayments. We serve multi-location portfolios across the US and Canada and provide a respected, professional service that addresses discrepancies and prevents recurring overcharges.
Potential areas of recovery include:
- Operating Cost Overcharges – Errors resulting from improper expense allocation methodology or miscalculation of the tenant’s pro-rata share.
- Real Estate Tax Errors – Inclusion of excluded tax (i.e., franchise, personal, etc.), miscalculation or omission of real estate tax appeal credits not reimbursed to tenants.
- Management Fees Overcharges – Miscalculation or overcharging of management fees beyond the lease provisions.
- Gross-Up Calculation Errors – Errors in gross-up methodology that inflate a tenant’s proportionate share of operation expenses that vary with the occupancy level in the building.
- Capital Cost Amortization errors – Capital costs improperly expensed and recovered in a single fiscal year rather than amortized over their useful economic life.
- Lease Exclusions – Recovery of costs that are contractually excluded from operating expenses but improperly billed to the tenant.
- Additional Rent Billing inconsistencies with the lease provisions.
Contact us today to get your complimentary operating expenses initial review.