Landlord consent and approvals: they're a necessary step in portfolio transactions from purchase and sale, to refinancing and mergers and acquisitions. Obtaining a landlord’s signature may seem like an easy ask, but underestimating the time and relationship management skills required, can tax in-house and outside counsel resources and cost you twice as much as it could.
The Problem: You're Paying Attorney Fees for Administrative Tasks
Companies taking on a landlord consent and approval process in-house, may be startled by how significant an operational undertaking it is. It makes sense that you would gladly pay someone else—anyone else—to take over this process so your team can focus on the daily operations. Unfortunately, when under pressure to get landlord consents handled, the first option many turn to is also the most expensive: attorneys. However, while obtaining landlord consents does require a certain level of expertise, it is primarily hours of project management and administrative work that does not have to be done by an attorney, nor at an attorney's hourly rates. Property Works coordinates with your attorney teams to manage the administrative and time-intensive aspects of landlord consent projects so the legal and business teams can focus on the deal. By bringing in operations support through a partner like Property Works, you can save your time and money pursuing the necessary landlord approvals with an experienced landlord liaison working on your behalf.
The Solution: Property Works' Consent and Approval Service
Property Works has an excellent track record in facilitating consent and approval projects, working on tight timelines to deliver at or above the threshold number of consents required to close a deal. Experienced in coordinating with attorneys, deal teams and landlords, Property Works’ consent and approval process clears the hurdles of a complicated logistical process out of your lane so your team can make it to the finish line on a smooth track. With custom technology and status-tracking solutions, a proven process, and our knowledgeable team to see it through, our Consent and Approval Service is a Transaction Support Service that has helped major brands nationally, with portfolios ranging from 40 to over 1,400 locations.
How It Works
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Phase 1: Setting Expectations
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Our team works closely with the client to understand the project scope in detail, from timelines to deliverables and beyond, ensuring total clarity.
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Phase 2: Preparing Communication
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We load all client contact info into our cloud-based, custom software platform, which also tracks the project throughout all stages. We work with clients to craft messaging that maximizes the potential for swift signature delivery, and handle the busy work of all landlord letters and materials.
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Phase 3: Following Up
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Once landlord packets are received, our team tenaciously executes a concentrated, phased, and thorough follow-up plan, complete with one-to-one contact, swift escalation of any concerns that must be handled by the client, and regular client meetings to closely monitor project status.
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Phase 4: Delivering and Debriefing
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Of course, all executed hardcopy and electronic signatures are delivered to the client in a timely manner, but in addition to landlord approvals, we provide clients with a completed list of all landlord contact information, which has been continually updated throughout the process, as well as any landlord issues that were unrelated to consent and approvals, but noted for client attention.
The benefits: Time, Money, and Resources
Property Works has been handling landlord consent management projects for more than 25 years. You can now leverage that experience by taking advantage of the turnkey solution we've developed and perfected. Don't let your team's daily operations get overtaken by the consent and approval process or shell out for attorneys to do admin work. Property Works is here to support you as an administrative partner and free up your time and resources for your core business.
About Property Works
Property Works has been an industry leader in real estate and lease portfolio management for over 20 years, providing support to companies with multi-unit locations across a range of sectors including restaurant and retail. Since 1996, we’ve handled the portfolios of numerous Fortune 500 companies, as well as small businesses.
Contact Property Works’ Transaction Support Services Team today for more information on the benefits of partnering with us.
