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Lease Expense Review
Confidential - IT Firm
CLIENT
Confidential - IT Firm
SPACE
N/A
INDUSTRY
Information Technology
CRESA TEAM
Maria Nenciu
CRESA OFFICE
Toronto, ON
SERVICES PROVIDED
Lease Expense Review
CLIENT OBJECTIVES & RESULTS
CLIENT OBJECTIVES
- - A Cresa Toronto client was getting ready to move out of their current space, and wanted to enlist an expert team to review their lease to ensure information was accurate and no incorrect charges were overlooked.
RESULTS
- - Following Cresa Toronto’s review of operating expenses, it became apparent that capital expenditure was included, which was inconsistent with the provisions of the lease.
- When brought to the property management company’s attention, they acknowledged the lease terms were not standard.
- The client was provided with a $74,000 credit.
- This review took place at the end of the term and there were no future savings; had the lease been reviewed years earlier as Cresa Toronto would recommend, the savings could have been significantly higher.
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© 2024 Cresa Toronto Inc., Brokerage
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