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What The Industry Is Saying

One of our large national clients asked us to audit their landlord’s CAM/OE Escalations, which we found was prepared by Mickey McClune. After a comprehensive audit, we determined that Mickey not only did everything right, but that his CAM/OE Escalations were done precisely according to our client’s complicated lease provisions as well as industry standards. While we in fact could not come up with any “findings”, we did walk away knowing that our client had been billed correctly and fairly."

~ RRG (a national Lease Auditing firm during a recent CAM/OE Escalation audit)

 


 
 

Consulting Services for Corporate America

At times, "Corporate America" (e.g., tenants, companies' facility management departments and finance/accounting departments, etc.) need additional or special expertise/assistance that they may not have within their groups. Our systems and procedures (“S&P”) for each of our services below have been refined over the years to be the “Best of Class” in our commercial real estate industry. Having first learned from the best (i.e., the LaSalle Partners of the 1980’s), we have continually refined those S&P’s with studied insight over the years gained from properties we’ve taken over from other companies (which allowed us to see first-hand what worked well for them and what didn’t) and from others friends in the industry, with the result that our S&P’s are not only truly effective, but they are also very easy to use/implement, and very systemized and therefore efficient. The result … MKCAM’s “Best of Class” systems and procedures, which allow us to better focus on our clients’ other, important assignment issues instead of working on some time-consuming procedure. As such, MKC Asset Management is ready to step in and help!

MKC Asset Management currently provides lease abstracting, CAM/OE Escalation Preliminary Reviews, CPI Adjustment Preliminary Reviews, and Lease Administration "Consulting Services for Corporate America":

lease-abstracting  

Lease Abstracting
Features & Benefits

MKC can thoroughly review and abstract your real estate portfolio’s leases using our exclusive “CorpAmerica Lease Abstracting Software System” (“CLASS”) (click here to download an overview of our CLASS) providing you with the following benefits:

  • A 1-page summary of each lease identifying over 190+ important lease items and their page references;
  • All lease “Options & Ticklers” are identified, categorized, and listed including “critical dates” (e.g., lease termination rights, renewal options, etc.) and “hidden ticklers” (e.g., annual carpet cleaning, etc.);
  • Tenant vs. Landlord maintenance responsibilities are identified; and
  • Various reports are generated summarizing your leased locations, square footages, security deposits, parking rights, commencement and expiration dates, HVAC hours, local contacts, lease options and ticklers, etc.

cam-oe-escalation-preliminary-review  

CAM/OE Escalation Preliminary Reviews
Features & Benefits

As your landlords submit their annual CAM/OE Escalations Reconciliation Statements to you each year, MKC will review each and provide to you:

  • A 1-page summary of your OE/CAM situation for each billing, including:
    • An abstract of your relevant lease provisions;
    • A summary of your “includable” vs. “excludable” costs;
    • A comparison of the landlord’s property expenses from year-to-year identifying problematic areas; and
    • A “conclusion/opinion” as to the correctness of the billing and what follow-up actions may be needed
  • If errors are found on the landlords’ statements, MKC will determine if a simple letter to the landlord identifying the errors will suffice or a full audit is needed:
    • If a simple letter will solve the problem, MKC will draft it for your signature
    • If an audit is needed, MKC will refer you to an expert Lease Auditing Firm for further action

cpi-adjustment-preliminary-reviews  

CPI Adjustment Preliminary Reviews
Features & Benefits

As your landlords submit their annual CPI Adjustments to your Base Rent, MKC will review each by first obtaining the correct CPI information, then completely recalculating the Adjustment per the lease’s provisions, and finally answering the following:

  • Did the landlord do it right?
  • Was the correct Index used?
  • Were the correct Comparison Indices and Comparison Months used?
  • Were all “caps” accounted for correctly?
  • Were there any calculation errors?
  • Is the Adjustment acceptable for payment?
    • If it’s not acceptable for payment and errors were found on the landlord’s computations, MKC will provide full evidence that can be submitted back to the landlord for correction

lease-administration  

Lease Administration
Features & Benefits

For organizations with a limited Facilities Group staffing, MKC can supplement such staffing by providing the following Lease Administration Services (click here to view a summary of one of our Lease Administration assignments with a major regional bank):

  • Lease abstracting using our exclusive "CLASS" lease abstracting system;
  • Critical date tracking using our exclusive "CLASS" lease abstracting system;
  • Lease file set-up and maintenance;
  • Rent payment verification / establishment;
  • CAM/OE Escalation & CPI Adjustment reviews;
  • New lease documentation reviews;
  • Vendor selection and contracting; and
  • Creation of Facility Management “systems” unique to the client.
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