Smarter, centralised lease management creates portfolio transparency, reduces costs and mitigates risk
Effective lease administration programs are the foundation for strategic portfolio management—providing the ability to turn data into insight and impact.
Dynamically managed lease data can track and align a corporate real estate portfolio with an organisation’s business strategy. Without an effective lease administration program, real estate assets are likely underutilised, opportunities are missed and excess and inaccurate charges are unknowingly paid.
JLL’s scalable lease administration platform is designed to support a diverse set of lease administration needs
Cost-effective solution to
manage essential critical lease data, events and required reporting. Leverages
CoStar’s Core Data technology.
Management and analysis of
a comprehensive portfolio database. Leverages SOC1 certified service using
JLL’s proprietary RED technology or your technology systems.
JLL’s premier lease
administration service level. Database Management PLUS financial reviews and
desktop audits. Monthly rent recommendations of landlord payments.
JLL performs lease audits on landlord reconciliations based on on-site audits of the landlord general ledger against key lease terms under a contingency fee arrangement.
Proof in results
A beverage company with 65 leases in the U.S., Canada and Latin America needed to ensure rent payments were made on time, operating expense and real estate tax reconciliations were reviewed and critical dates were monitored. In addition to managing its leases, JLL conducted field audits on landlord reconciliations warranting a more detailed review. JLL's proactive lease management and audits has yielded cost savings and avoidance of $376,000 since 2009.
The technology company has approximately 280 locations in the U.S. and Canada. JLL received an OpEx reconciliation that reflected 100% occupancy for the entire year. However, Cisco's lease expired on October 31st, so the reconciliation should have included the actual occupancy of 83.29%. JLL worked directly with Cisco's third-party project management team to mitigate the reconciliation. Through this process, JLL identified cost savings/avoidance of $130,602 from the revised operating expense reconciliation, with total cost savings/avoidance over six years of $10.3 million.
The medical technology company with approximately 270 locations globally was using a real estate database with outdated and incomplete lease records. JLL abstracted the lease data and documents for the company's entire real estate portfolio into its Portfolio system, as well as tracked/obtained missing lease documents and established a protocol to send and receive the latest updates. Now, Stryker Corporation can easily access accurate, reliable real estate information online 24/7 and can manage its portfolio more strategically.
JLL Lease Administration by the numbers:
738 trained professionals with centers of excellence in each geographic region
15 technology systems utilized, including our propriety web-enabled technology platform, Portfolio
246 corporate clients and 133,948 sites managed
$14.5 billion in managed spend, and $61.7 million in savings and avoidance
SOC 1 certified process for 10 years, with a dedicated internal audit team
42 languages in 160 countries in our database
These new standards altered accounting and financial disclosure requirements for both real estate and equipment leases.
Senior Manager, Lease Administration