Objective There was an Ownership change and the new management turned to SQFT KS to review and analyze the data in their Property Management System for their 600 odd branches. Additionally, require few fresh clauses to be captured from the Lease documents. Challenge Not a fresh set-up, nor a full-fledged audit. Will run over a […]
Objective
There was an Ownership change and the new management turned to SQFT KS to review and analyze the data in their Property Management System for their 600 odd branches. Additionally, require few fresh clauses to be captured from the Lease documents.
Challenge
Not a fresh set-up, nor a full-fledged audit. Will run over a month, no specific start date of lease term for the review. Client was looking for experience and the understanding of SQFT KS; to come up with welcoming recommendations.
Solution
- Finalized start date of the current amendment as the start point of review
- Excluded historical options, since it is of no utility
- Excluded monthly additional charges from scope
- An exhaustive process of financial due diligence was finalized
- Emerged with number of discrepancies between Data in Property Management System and the data in Lease
- SQFT KS’s analysis of the current expenses and Tenant obligations made it evident of significant discrepancies
Results
With SQFT KS’s clear and concise summation of the discrepancies, Client approved each and every discrepancy that needs to be fixed in the Property Management System – which was taken-up as a service by itself.