IN THE WORKS

A new lease accounting standard—namely, Accounting Standards Codification (ASC) 842—has made significant changes to accounting practices for operating leases, causing major frustration for large and small companies alike.

COVID Related Tool Helps Multi-Unit Tenants Keep Payments Organized During Pandemic Property Works, an industry leader in real-estate and lease-portfolio management,...

Across the nation, businesses both large and small have struggled to keep their doors open during the uncertainty of the COVID-19 pandemic. Unfortunately, such hardships have created tension between commercial tenants and their landlords. The question has become, how do tenants move forward with their commercial leases in these uncertain times? While many businesses have gone fully remote, such an option is not feasible for restaurants and retailers. In many cases the answer for these businesses is renegotiating their leases, which helps cut significant costs in a time when every cent matters.

Prior to refinancing, your landlord’s lender may require that you sign an SNDA, which stands for Subordination, Non-Disturbance and Attornment agreement. Once signed, you will be bound to the terms within it should the landlord’s lender become your landlord, so it’s important to know the facts. A few of our most commonly asked questions about SNDAs are listed below.

Action items is a tool built to facilitate workflow controls. Clients now have the ability to set up a workflows from start to finish and build in custom control triggers to move from one step to the next.

Property Works Will provide comprehensive lease management to Ruby Tuesday

For the second straight year, Property Works is taking part in the Best Buddies Georgia Champion of the year fundraiser. The goal of the fundraiser is to raise enough money to open a Best Buddies Georgia office and hire full-time staff.

As multi-unit operators around the world are scrambling to make business-critical decisions about their lease portfolio, it seems relevant to share how our clients are getting the most out of their outsourced lease management solution during the Pandemic. When our team of lease and OC experts shared the positive feedback received from our clients, 5 benefits repeatedly came up.

Imagine you’re about to open a new retail location. You’re excited because you landed the perfect spot, and the landlord is thrilled because the first rent check just cleared the bank. But in the moment, no one is thinking about memorializing the first dates and milestones. And why would you because everyone is aware of the dates…they’re in the email! But years from now when the email can’t be found and your lease options hinge upon key commencement dates, the mad scramble beings to identify those long-lost details.

Bojangles’ Famous Chicken ‘n Biscuits, an American regional chain of 750 restaurants in 11 states, closed on its first whole-business securitization in October 2020. Bojangles, legal counsel Paul Wiess, and Barclays engaged Property Works to obtain all necessary consents from Bojangles’ landlords. Despite the disruption of the Pandemic, Property Works was able to obtain all required consents for the refinancing to move forward.