A partnership that lasts long after the transaction.
Each year office tenants spend millions of dollars above and beyond their base rent in operating expenses. Unlike the rental rate that is negotiated and spelled out in the lease document, these operating expense charges are subject to each property owners’ operating and accounting procedures. From experience, we know that many tenants are being overcharged. From unintentional errors to questionable spending and accounting practices, San Diego tenants are spending millions in unnecessary occupancy costs. With a commitment to our clients that goes well beyond the lease signing, Hughes Marino helps our clients navigate through these charges and achieve significant savings.
What is Hughes Marino LAS?
- A service only Hughes Marino provides to its existing and future clients. Hughes Marino has built a reputation on representing tenants, not landlords. It is because of this commitment that we are able to help San Diego businesses understand, and when necessary challenge, their landlords.
- A tool tenants can use to understand the operating expenses landlords are asking them to pay. Unlike your rental rate, the amount of operating expenses you pay are not spelled out in the lease. They are based on each landlord’s individual policies, procedures and interpretations. Unfortunately, no two landlords are alike and “industry standards” leave landlords significant leeway that, when left unchecked, is costing San Diego businesses millions of dollars.
- An audit of your lease to determine if landlord is complying with both the provisions of the lease and industry standards.
Why work with Hughes Marino LAS?
- Business owners know that when it comes to their business expenses, occupancy costs typically rate second only to payroll. We provide business owners the chance to get a thorough understanding of these costs and very likely improve their bottom line. Hughes Marino LAS focuses on operating expenses, which unlike your rental rate, can be subjective and very complicated to decode.
- Landlords like to keep you in the dark. The annual presentation of operating expense charges are usually vague and at best provides a summary of expenses incurred by the landlord during the year. Your landlord knows property management is not your business and presents these numbers in such a manner that make it impossible to see red flags.
- Hughes Marino LAS helps you understand what you are being asked to reimburse the landlord for, and more importantly, keeps the landlord honest and transparent.
- Hughes Marino knows what to look for. While we are known for providing the best in tenant representation during the leasing and purchase of corporate office space, we also have professionals that have previously been on the landlord side of the table with extensive management, operation and accounting experience.
- Errors are made. No matter how much you trust your landlord, the fact remains that human error can occur in the preparation of operating expenses. Left unchecked, these errors can have compounding effects that can cost your business significant money over the term of a lease.
- No two landlords are alike — and the industry allows for flexibility on how they spend and maintain their property. There is no black and white, so we need to be sure you are being charged fairly.
- Because you can save real money. Over the life of a lease, a discrepancy in the operating expense calculation can have a compounding effect if not identified early.
- You have a business to run! Aside from the experience Hughes Marino LAS offers, we know that you have a business to run and should not be burdened with the challenge of keeping your landlord honest.
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