On the Owner vs. Tenant Battleground with Bricsnet

In the commercial real estate industry, owner vs. tenant obligations are battle-hardened topics. The subject has been weighed thoroughly from diametrically opposed perspectives. While the owner fights for renewal rights and reclaiming space for better deals, tenants perform lease audits against CAM reconciliations and OPEX charges.

In the retail industry, landlord/tenant contracts get even more complex. In a mall environment, for example, CAM charges reign as a constant battle, forcing some retailers to seek free-standing stores over malls based on fees alone. These contracts are often extremely complex, with things like termination clauses if the anchor store closes, CAM fee percentages, flat CAMS and other intricacies. The variables in these cases are infinite. Regardless of the outcome and changes from this continuous struggle, one thing remains constant: tenants need flexible and agile technology to effectively enable, enforce and normalize lease operations. Bricsnet helps retailers:

Enable
· Avoid unnecessary expenses by thoroughly understanding terms, conditions and landlord vs. tenant responsibilities
· Make-informed decisions on lease renewals, extensions, terminations, options and opportunities
· Keep responsible parties informed about critical dates and scheduled actions

Enforce
· Ensure that deadlines and critical dates are met without exception.
· Track improvements, including budgets, expenses, landlord vs. tenant contributions, and other details
· Enforce approval chains

Normalize
· Retain a complete audit trail for every lease
· Define and manage roles and responsibilities in lease administration
· Manage lease-related insurance policies and details
· Calculate and manage specialized rents such as indexed and percent-based rents

Most importantly, Bricsnet provides a flexible and stable platform that adjusts with constant change. While Bricsnet offers standard lease management capabilities built from years of customer interaction and best practices, customers can fine-tune the solution without touching the source code. With Bricsnet, you can easily modify workflows, add data elements specific to your business, manage security and access rights for internal and external users, classify information in ways that make sorting and filtering easier – even change the look and feel of the application to match your standards. To learn more about how Bricsnet can enable, enforce and normalize your lease operations, contact Bricsnet at (415) 321-2650 or www.Bricsnet.com.