COMMERCIAL LEASE ADMINISTRATION

ROCK’s experienced Lease Administration team eliminates the time and burden associated with managing leases, allowing owners to embrace other business opportunities.  Annually ROCK’s Lease Administration team handles over $12M in collections for 325+ leases.

Services:

  • Preparation and maintenance of lease abstracts
  • Annual monitoring of tenant insurance compliance
  • Tracking of lease options and renewal dates
  • Tracking changes in the Consumer Price Index (CPI) for calculating lease rate escalations
  • Providing notification of scheduled rent increases
  • Lease accounting including billing of security deposits, rents, and budgeted common area maintenance (CAM) charges
  • Collection of security deposits, rents, and budgeted CAM charges
  • Collection calls and notices on delinquent accounts
  • Assessment of late charges and other fees on overdue payments in accordance with lease agreements and owner directives
  • Providing notification of delinquent accounts to owner
  • Issuance of tenant default notices on behalf of the landlord
  • Calculation of administration, leasing, and management fees, if applicable
  • Disbursement of lease commissions to all real estate brokers involved in transactions
  • Disbursement of net proceeds to owners
  • Electronic payment option for owner
  • Electronic payment option for owner’s tenants (payments collected on due date)
  • Issuance of annual IRS Form 1099s to payment recipients
  • Support owner in lease audit requests from tenants
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Case Studies

1805 Loucks Center, York, PA

Product: Multi-Tenant Office

Size: 27,000 SF

Client: 1805 Loucks Center, L.P.

Services: Lease Administration

8-Building Portfolio, York County, PA

Product: Industrial/Retail/Office Mix

Size:  182,000 SF

Client: Space Leasing

Services:  Lease Administration

9-Building Portfolio, York County, PA

Product: Industrial, Retail

Size:  269,431 SF

Client: DGR Partners, LP and Willow Springs Partnership, LP

Services:  Lease Administration

Our relationship with ROCK is a significant partnership. We consider Kevin Hodge a key member of our real estate team. He has been involved in the land acquisition, due diligence, entitlement and eventual sale of every significant transaction we have done in York County for many years. We couldn’t ask for anything more.

Gary Stewart
The Stewart Companies

As a client I greatly appreciate the professionalism and service that ROCK’s accounting team provides. Their standards and practices provide accurate data and timely information required for effective management and financial controls. They keep their eye on the numbers but also provide a big picture perspective.

Jack Kay
Susquehanna Real Estate, LP

Very thorough and excellent communication from Greg Finkelstein. Always follows up and does what he can to bring two parties together to execute a lease.

Andrew Levine
Adams County Realty, LLLP

I cannot say enough about my positive experience working with David Bode. I chose him because he seemed more aggressive and knowledgeable, and my first impression was confirmed many times along the way. He was always available, his experience was evident, and his advice was spot on. I would highly recommend him.

David Fuchs