Outsourcing your CAM (Common Area Maintenance) audit and reconciliation tasks to an expert lease administration company provides numerous benefits that can significantly enhance your operational efficiency and cost management.
Cost Efficiency: It keeps your costs low
One of the primary advantages of outsourcing your CAM audit and reconciliation is the potential for cost savings. By outsourcing, you eliminate the need to hire and train in-house staff for lease accounting and lease administration roles. This reduction in HR and training expenses can lead to substantial financial savings, allowing you to allocate resources to other critical areas of your business.
Expertise and Experience
Lease administration companies bring a wealth of expertise and experience to the table. These companies have extensive knowledge and experience working across various industries, which can be highly beneficial. By leveraging their specialized skills, you can ensure that your CAM reconciliation is handled with the utmost accuracy and professionalism. In contrast, an in-house lease administrator may lack the broad exposure and deep expertise that an external firm offers.
Streamlined Negotiations
Handling discrepancies in CAM calculations can be challenging, but outsourcing this task can simplify the process. Lease administration companies act as a neutral third party, which is often more acceptable to landlords. They are perceived as reliable and objective, making negotiations smoother and more effective. Additionally, these companies specialize in this type of communication and typically have established processes and protocols that are well-received by landlords, ensuring that any issues are resolved efficiently and amicably.
Risk Mitigation
Outsourcing CAM reconciliation also helps mitigate risks associated with errors and non-compliance. Lease administration companies are well-versed in industry standards and regulations, ensuring that your CAM calculations are accurate and compliant with lease agreements. This reduces the likelihood of costly mistakes and potential disputes, providing you with peace of mind.
In summary, outsourcing your CAM audit and reconciliation tasks to a specialized lease administration company can lead to significant cost savings, provide access to expert knowledge and experience, facilitate smoother negotiations with landlords, and mitigate risks associated with errors and non-compliance. This strategic move can enhance your operational efficiency and contribute to the overall success of your business.
For more information, please contact Mohr Partners Lease Administration department.