For multi-unit operators, managing leases isn’t just about paying rent—it’s about staying ahead of critical dates, ensuring compliance, and optimizing costs throughout the entire lease lifecycle. From acquisition to disposition, every phase of a lease requires time, expertise, and a well-structured process.
Outsourcing lease management allows businesses to streamline operations, reduce risk, and free up internal teams to focus on growth. Here’s how Property Works supports every step of the commercial lease lifecycle:
Acquisition & Development: Laying the Groundwork for Success
When acquiring a portfolio of leased locations or opening new stores, lease management starts well before the doors open. Property Works ensures a seamless transition by:
Acquisition Support
- Pre-Closing Lease Abstraction – We abstract leases before closing so operators know exactly what they’re acquiring.
- Accounts Payable Setup – We build out the accounts payable structure ahead of time, ensuring seamless integration into existing financial processes.
- License, Permit & Utility Transfers – We coordinate the transfer of licenses, permits, and utility agreements from seller to buyer—avoiding costly delays in post-closing integration.
New Development Support
- Development Project Management – Our development tool allows users to manage new builds and remodels by tracking critical milestones and automatically transitioning into lease administration upon project completion.
- New License & Permit Applications – We handle applications for new operating licenses and permits, ensuring compliance before opening day.
Operations: Managing Leases & Controlling Costs
Once a location is open, lease administration shifts into an ongoing process of tracking obligations, ensuring compliance, and managing costs. Property Works handles the heavy lifting by:
- Tracking Critical Dates & Rent Escalations – Our system automatically monitors lease renewals, expirations, and rent increases to prevent costly oversights.
- Auditing Occupancy Costs – We ensure annual reconciliations (like CAM and real estate taxes) are accurate, protecting clients from overcharges.
- Generating AP Files – Our accounts payable file integrates seamlessly into ERP systems, ensuring lease payments are made accurately and on time.
- Ongoing Lease Data Management – As new lease amendments, notices, and documents come in, we update the system to ensure data remains current.
- Landlord Communication & Expense Backup Requests – We manage all correspondence with landlords, including expense verification, lease renewals, and compliance matters.
- Real Estate Tax Compliance – If a tax bill isn’t received, we proactively obtain it from the jurisdiction and add it to the AP file to ensure timely payment.
Compliance & Reporting: Keeping You Audit-Ready
As regulations become more complex, ensuring financial compliance is more important than ever. Property Works supports:
- ASC-842 Lease Accounting Compliance – We generate compliant schedules and disclosure reports, reducing the burden on accounting teams.
- License & Permit Renewals – We track and renew all required licenses and permits, preventing disruptions due to expired credentials.
Disposition: Exiting a Lease Without the Headaches
When it’s time to close or relocate a location, having well-maintained lease records can prevent costly surprises. Property Works makes the process smooth by:
- Organizing Lease Data for Efficient Exits – With all lease details, obligations, and termination clauses properly tracked, businesses avoid unnecessary legal fees.
- Managing Lease Terminations & Buyouts – We ensure clients understand their financial obligations and manage any required negotiations.
One Partner for the Entire Lease Lifecycle
Rather than relying on multiple vendors or burdening internal teams with lease administration, outsourcing to Property Works ensures every lease is managed efficiently from start to finish. Whether acquiring new locations, managing day-to-day lease obligations, or preparing for a seamless exit, our team handles it all—so yours doesn’t have to.
Let’s discuss how outsourcing lease management can streamline operations, control costs, and give your team the support it needs at every stage.
