"Lease administration" covers a broad scale of services—everything from creating
a database of lease documents to collecting rents. Grubb & Ellis provides comprehensive
services for both leased and owned properties that support corporate real estate
professionals in identifying, cataloguing and administering their real estate portfolios.
With employees based either at client sites or at our service center in Pittsburgh,
Grubb & Ellis currently manages more than 5,000 leases for 30 clients nationwide.
The seasoned professionals on Grubb & Ellis’ Lease Administration team, which includes
lease abstract and administration specialists, attorneys, paralegals, technology
experts, CPAs and accountants, work consultatively with clients to find the lease
administration solutions that best meet their goals. Our objective is to compile
and communicate strategic real estate data relevant to clients’ operational, financial
and transactional needs. The end result is greater efficiency – and thus greater
We offer an a la carte menu of services that enables us to customize our solutions
for each client:
Basic lease administration services entail
creating a database of all the client’s lease documents, maintaining the database
and training the client’s employees to use it. The system also generates notifications
of critical dates such as lease terminations and other reporting information.
Enhanced lease administration includes all basic
lease administration services plus review and processing of landlord invoices, collection
of subtenant rents, maintenance of vendor files and generation of payment reports.
We will perform desktop audits of landlord billings for operating expenses, real
estate taxes and utilities.
Full lease administration takes our services to the
highest level. Grubb & Ellis handles the actual payment of rental obligations, collection
of subtenant rents, maintenance of bank accounts, completion of cash management
and bank reconciliation tasks, and implementation of business controls to ensure
compliance with laws and regulations.
When times are tough, companies work hard to cut costs. For less than the cost of
one full-time employee with salary and benefits, Grubb & Ellis can supply a team
of real estate professionals to construct and maintain a database that captures
all essential information from the corporate real estate portfolio, allowing clients
to manage their holdings more effectively while realizing significant savings.