IN THE WORKS

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.

Acquiring a portfolio of leased locations—whether it’s a restaurant chain, convenience stores, or another multi-unit business—comes with an overwhelming list of post-closing tasks. But one critical piece of the integration puzzle often slips through the cracks: transferring business licenses, permits, and utility accounts.

Adopting an ASC-842 lease accounting solution is a critical step for any organization managing leases. The standard requires precise calculations, detailed reporting, and thorough compliance efforts—but not all systems are built to meet these needs. If your current solution isn’t up to par, it could be causing more harm than good.

By Gwen Kelly, Partner at Property Works Gwen has been auditing occupancy costs for over 25 years.

For restaurant and retail chains juggling leased locations, the specter of ASC-842 looms large even as we enter into 2025. 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?

As we step into 2025, multi-unit operators in the retail and restaurant industries find themselves at a critical juncture. Shifting consumer behaviors, rapid technological advancements, and evolving lease dynamics are redefining the landscape. To stay competitive, operators and property managers must anticipate these changes and adjust their strategies accordingly.

Operating a multi-unit business involves a complex array of licenses and permits. This guide serves as your strategic advisor, helping you navigate the regulatory landscape to ensure your operations are compliant and efficient across all your locations.

For operators of multi-unit businesses, managing licenses and permits can be a daunting task. The complexity of this process stems from various factors that can hinder operational efficiency and legal compliance. Here, we explore the key challenges that multi-unit operators face in this critical area of business management.

If you’re managing multiple locations, ASC 842—the new lease accounting standard—might already feel like a big deal. This rule, designed to make financial reporting clearer and more comparable, means that leases longer than 12 months will now have to show up on your balance sheet. While this can feel like a lot to navigate, it’s important to understand how it affects your operations and what you can do to stay compliant, all while keeping your lease management efficient.

The terms "lease management" and "property management" are often used interchangeably, but they refer to distinct roles in the real estate world. While both involve managing properties, the responsibilities and focus of each are quite different.