| Lease Administration |
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The opportunity to reduce leasing costs is achieved not only through good lease negotiation but also through strong lease administration to ensure that the deal achieved is adhered to. Manhattan Lease Administration generates the lease charges based directly on the lease terms including any rent steps, CPI or percentage rent and creates the Accounts Payable / Receivable transactions directly. These can in turn be passed through to the corporate ERP system providing seamless integration with the payments. This avoids any double handling and allows the lease payments to be determined by the people who understand and administer the leases. Critical date management ensures that all key dates are actioned in a timely manner to take advantage of options to renew, expand or exit a lease in line with the Strategic Portfolio Planning. By being a true IWMS system, lease information is available to project managers and facility managers to avoid unnecessary costs when the lease is soon to be exited. |