Lease Administration.

  • Perspective.

    At Space Group, we understand leases – the complexities and nuances which represent the culmination of negotiations between lessor and lessee. A finalized lease agreement is the essence of business strategies in action. Our experience working with lessors and lessees over the years has shaped our broad perspective and enables us to bring this rich and diverse understanding to all that we do.

    The comprehensive and timely actions of a high-performing lease administration function are vital to the foundational success of the business. Equally, the lack of knowledge, time, or resources in the lease administration function can jeopardize successful outcomes and lead to costly mistakes.

  • Knowledge.

    Top performing lease administration teams are process gurus, detail warriors, and obsessed about time. At Space Group, we are all of these things and more. Our process-driven approach is grounded in our in-depth knowledge of the details of leases, lease administration responsibilities, and have developed a custom lease platform as a one stop secure interface.

    We know the importance of timely and accurate action, along with the necessity of open communication with stakeholders. We are fearless communicators and advocates of our client’s lease portfolio priorities, across time zones and global footprints. We partner with our clients; operating as a seamless, knowledgeable extension of their team.

  • Purpose.

    At Space Group, we believe that facilitating the success of our clients is at the heart of what we do. We know leases and we know the value they create and represent for our clients. In many cases, leases are at the core of executing a well-defined strategy. With that in mind, we derive our own success from the successful administration of each and every lease in our clients’ lease portfolios.

    It is through this valuable perspective that we push ourselves daily to be better than the day before. We are committed to continually growing our knowledge base, refining and improving our processes, and developing each and every one of our valued employees.

Our Services.

  • 01. Set up, Cadence and Process Optimization

    • Initial setup, coaching, cadence

    • Process evaluation

    • Review of existing data capture mechanisms and templates for accuracy and usefulness

    • Template optimization and definition

    • Recovery setup

  • 02. Lease Abstraction and Ongoing Maintenance

    • Abstraction of Leases

    • Process evaluation

    • Abstraction of Amendments/Side Letters

    • Vendor change/update

    • Lease abstract audits

  • 03. Notice Processing/Correspondence

    • Renewal notices

    • Estoppel

    • SNDA (Subordination and non-disturbance agreement)

    • Commencement date letters

    • Rent increase letters

    • Monthly statements

    • Month end reports

    • UCC Filings

  • 04. Financial Processing

    • Setting up Client and Customer Portals

    • Securing Collateral Interest (Liens, UCC Filings, etc.)

    • Equipment Leasing

    • Property Leasing

    • Invoicing and Collection of Rent

    • Tax Management – sales, use and property

    • Accounting, Quality Assurance and Oversight

  • 05. Year-End Reconciliations

    • CAM charges

    • Insurance charges

    • RET charges

    • Utility Charges

    • Follow-ups with landlords and tenants to correct overcharging/underpayment

  • 06. Critical Dates Monitoring

    • Lease expiry/renewal date

    • Security deposit return date

    • Rent increase date

  • 07. Liasoning services

    • Communicating with your tenant/landlord/other parties for lease-related processes.