Outsourcing CAM audit and reconciliation tasks to a specialized lease administration company provides a number of benefits, including cost savings and access to unmatched expertise.
Managing Common Area Maintenance (CAM) costs effectively is vital for businesses leasing property. A crucial element in this management is the CAM audit and reconciliation process, ensuring accurate charges for shared space expenses. Outsourcing these tasks to a specialist lease administration company brings several significant benefits,
Outsourcing CAM audit and reconciliation tasks is primarily beneficial for its potential cost savings. It negates the need for hiring, training, and maintaining an in-house lease accounting and administration team, reducing both direct HR costs and the indirect costs of employee management.
Engaging a lease administration company offers access to specialized expertise and experience. These firms have extensive knowledge gained from working with a variety of landlords across multiple industries. This experience means they are well-versed in common areas of mistakes in CAM charges and have strategies to effectively navigate these issues. Their insights and skills often exceed what an in-house team might possess, providing a more comprehensive understanding of lease administration.
A lease administration company can also facilitate smoother negotiations over CAM discrepancies. These third-party firms are generally viewed by landlords as more objective and reliable compared to an internal team. Their proficiency in communication and proven negotiation processes are usually more effective and can lead to better dispute resolution outcomes.
In conclusion, outsourcing your CAM audit and reconciliation tasks can be a wise strategic decision. It offers financial savings, in-depth expertise, including knowledge of common errors and negotiation strategies, and more effective dispute resolutions. For those interested in these services, Mohr Partners offers tailored solutions. To learn more about our CAM audit process and how it can benefit your business, please contact the Lease Administration team at Mohr Partners.
You can reach out to Sohail Hamirani sohail.hamirani@mohrpartners.com (for a quick demonstration). Let our experienced team help you streamline your CAM audits and reconciliations, giving you the peace of mind to focus on your core business activities.