Scope
Year-end billing needs to be delivered within the timelines stated in lease; should have considerable amount of time for Property manager’s to ensure accuracy and retain the Tenant relations.
Challenge
Delay in budgeting, thereby in book close, sudden attrition, followed by special projects. However, CAM is the 2nd largest revenue to Landlords – huge money should be sitting in due, since actuals are way higher than what was budgeted.
Solution
Performed recovery extracts of Anchor Tenants and immediately billed those within 90 day, 120 day clause as Single Tenant (wherein other Tenants were billed later). Tracking was based on Property Manager ensuring there is minimum 2 Properties every week and all 10 in 1 month for their smooth review.
Results
Meticulous tracking by Property Manager, Portfolio, Property, Tenant has facilitated flow based review for Property Manager and timely communication to Tenants. Moreover, leakage analysis was delivered to substantiate lower dues, which was the impact of low occupancy, Base Year, expense exclusion and CAPs.