IN THE WORKS

Renewing business licenses and permits can be a complex and time-consuming process for any business owner. With multiple jurisdictions and varying renewal requirements, it's crucial to have a well-organized and efficient process in place. These 7 steps will provide you with essential information and practical steps on how to create a seamless process for renewing business licenses and permits.

After the deal is done and the acquisition team hands off a newly acquired portfolio of leases to the operations team, there can be confusion over what happens next. If your operations team is already working at capacity on the day-to-day tasks of running the business, finding time for someone to comb through each lease to set reminders for important dates, make notes of unusual terms, and reach out to every landlord can feel impossible. For many business owners, it's unclear who on their team these tasks should even fall to. This lack of clarity leads to a catch-up situation of just trying to not let too many items drop. Sound stressful? That's why Property Works has developed a proven Acquisitions to Operations Transition Process Support service to help you start strong.

When it comes to real estate acquisitions, the adage "knowledge is power" couldn't be truer. The success of an acquisition hinges on a comprehensive understanding of the existing leases. Imagine closing on a new property only to discover that a crucial lease expires just one year after the closing date—with no available renewal options. The ramifications of not uncovering these lease intricacies before closing can be substantial, ranging from missed negotiation opportunities to unforeseen financial burdens. In this blog, we'll explore why uncovering eight essential lease components before closing on an acquisition is paramount to ensuring a well-informed, strategic approach to property management.

One of the most daunting parts of buying or selling hundreds of units is reviewing hundreds of existing leases with landlords. There’s no getting around the enormity of this task.

As a business owner, finding the perfect commercial space is crucial to the success of your business. However, navigating the lifecycle of a commercial lease can be cumbersome and confusing, especially if you're managing multiple leases. From acquisition to operations, there are many departments and processes to consider when managing commercial lease agreements. That's why we've put together a comprehensive guide to help you navigate every step of the commercial lease lifecycle. In this guide, we'll cover everything from occupancy cost auditing to tenant improvement allowances. Whether you're a new business owner or a seasoned entrepreneur, this guide will help you make informed decisions and ensure that your commercial lease is a valuable asset to your business. So, let's dive in and explore the ins and outs of navigating the lifecycle of a commercial lease.

Post #2 in our series, In Development - Realistic Roadmap to Leased Location Sustainability

Most professionals are diligent about posting meetings and conferences on their calendars. Beyond options and expirations, however, few people have a systematic method for tracking and managing timely lease-related action items.

For restaurant and retail chains juggling leased locations, the specter of ASC-842 looms large. This complex accounting standard, demanding comprehensive lease recordkeeping, often triggers groans and late-night spreadsheet sprints. But what if the real culprit behind your ASC-842 woes isn't the standard itself, but the disconnect between your lease administration and accounting departments?

Savvy business owners are increasingly relying on lease administration software to help keep track of their properties. But in the sea of real estate–management platforms, how does a business operator know which is the right fit?

The ICSC Law Conference's panel, "Accelerating Technology in Lease Reviews: Demystifying the Miraculous," delivered valuable insights, highlighting four pivotal takeaways with concrete examples: