SRS began offering lease administration services in 1999 and today we manage more than 10,000 agreements for more than 80 clients. In April 2013, SRS merged its lease administration business with Cresa’s lease administration team to form a bigger, stronger lease administration service for the clients of both firms. The combined entity is a joint venture between SRS and Cresa.
The experience and quality of SRS’ lease administration team are our true differentiators. Many companies offer tools and processes for managing and administering client portfolios. Few can match the experience and tenure of our team members which become extensions of our clients’ real estate teams. By returning an average of $1.50 to our clients for every $1.00 paid to us in fees, SRS’ lease administration service provides extraordinary value and peace of mind with more than 30 dedicated experts.
Lease Administration Service Levels
SRS offers a broad menu of lease administration service levels that have evolved over many years in response to the various needs of our clients. The levels build upon the other for ever increasing levels of lease administration outsourcing and savings generation. They are flexible enough that various levels of service may be combined for a given client depending on portfolio needs:
- Level 1: Critical date management services
- Level 2: Critical date management services with basic accounting
- Level 3a: Full lease administration services with lease compliance audits
- Level 3b: Full lease administration with check cutting services
In addition to the levels of service described above, SRS’ lease administration team performs a variety of project and ad-hoc services for clients:
- Abstracting projects
- CAM, insurance and tax reconciliation audits
- FASB compliance special projects
- Merger and acquisition special projects
- Other consulting and special projects
Benefits of our Lease Administration Services
- Improved Infrastructure: Leveraging your existing platform with increased know-how or installing a new platform to bring your infrastructure up-to-date with improved tools, increased Sarbanes-Oxley compliance and compliance-ready FASB capital lease reporting are all built into our solution. Software as a service (SaaS) is standard in our lease administration offering with no headaches regarding selection or implementation.
- Internal Overhead Savings: Administration costs of this service are typically less than what you would experience internally and because of our experience we can deliver greater results with less organization drain. This gives you cost savings and keeps your resources focused on your core business.
- Amazing Insight: Cost saving and optimization opportunities become immediately apparent because you begin seeing the full picture through our reporting. Now you can focus on strategic planning and lease actions, while we keep the task work moving.
- Portfolio Savings: Create cost savings from our invoice review and desk-top audits, and increase sub-tenant revenue from our coordination of accounts receivable and sublease collection process. In fact, over the history of our lease administration service, our full-service clients have saved an average of $1.50 for every $1.00 paid in fees.
- Risk Reduction: All systems and data are secure and backed up. All processes are cross-trained and documented. We are accountable for any missed dates that occur within your portfolio. We become an insurance policy for any portfolio errors subject to our agreed to limits of liability.
- Scalability: Our service is highly flexible and scalable. If you start with the basics around the places you know you have exposures, you can always add features and increased levels of service later.
- Guarantee of Value: We provide a unique Guarantee of Value. We give you the unilateral right to reduce our fee if you believe we have not provided value in terms of time, money, and qualitative issues commensurate with the fees for the services rendered as set forth on any invoice.