Real estate and property costs are some of the largest, most important investments companies make. And – you know all too well – managing a portfolio of properties can be difficult. The complexities of lease agreements, intricate billing procedures and unexplained charges all increase the potential for profit leakages. That’s where PRGX comes in.
PRGX protects clients like you from real estate, lease and property overpayments. Our audit approach is designed to accommodate local business practices and adapts to your specific operating region. In the U.S. and Canada, we review client leases, correspondence, statements, and accounting records to determine if the lease and other occupancy payments comply with the lease agreement. For our clients with property in Europe, we determine the client’s ownership or occupation rights and liabilities, and then audit the actual payments to verify compliance.
Overpayments and accounting errors discovered by an audit of these transactions and accounts can include:
• CAM errors
• Property tax errors
• Percentage rate mistakes
• Incorrect cost allocations
• Tenant-incurred landlord costs
• Rent overpayments
• Service charge & insurance errors
• Rent receivables
• VAT/Stamp Duty errors
• Facilities management errors
PRGX, either directly or through our alliance partner, assigns specialist auditors to each lease and property audit. While these auditors analyze contract language, review payments, and work with landlords to recover cash, they’re also noting and sharing lease provisions that need to be modified or enhanced. That means you benefit from a short-term cash flow from the recovery audit, as well as a longer-term reduction in ongoing operating costs.