Here are a few examples of how our clients have used Leaselogistix® to
save money:
A retailer received a letter from the Landlord stating that base rent bumped in
by $35,000
per year commencing with the fifth lease year. The lease administrator logged
into Leaselogistix®,
pulled up the Lease Abstract report for the store and reviewed the base rent
clause.
At the same time the retailer clicked on the document link for the clause and
read the
entire pertinent section all from the browser window. The retailer quickly
learned that
the Landlord failed to recognize a Rider. The rent bump provision was
contingent on the
retailer’s sales exceeding $2,500,000 during the fourth full lease year, which
did not
happen. Thanks to Leaselogistix, it took less than 5 minutes for this retailer
to avoid
over paying $35,000 for the new lease year and …. $175,000 over the remainder
of the lease
term. Total research time involved by the retailer was less than 10 minutes.
The Leaselogistix®
solution and technology eliminated wasted time hunting for the requisite lease
document,
the possibility that the lease administrator may overlook the existence of the
rider and
the clause, in the event that the Rider wasn’t in the real estate file,
research time and
interpretation. This is an example of the power of a totally integrated system
delivered
with your company’s real estate data with high-level data entry standards and
professional
lease abstraction.
The Leaselogistix® E-lert, electronic email reminder, notified
another client
that they had a one time the option to kick-out of a non-performing store.
Thanks to
Leaselogistix® solution, the retailer eliminated paying $350,000 in
rental
expenses during the remaining lease years. |
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