Eighty Eight Keys Lease Consulting

Eighty Eight Keys Lease Consulting Full Service Lease Admin: outsourcing, Acquisitions/Disposition, CAM/tax, Estoppels, abstraction…

02/26/2024

Commercial lease administrators spend a lot of time looking at poorly-written lease clauses to figure out what the intent is. When negotiating specifics, such as operating expense reimbursements and TIs, it is imperative to carefully review how those provisions read, so that no ambiguity can create issues later. Make the language make sense!

02/07/2024

Landlords and tenants sometimes opt to renew and amend a lease time over time. After years of doing this, many lease clauses can be updated, but oftentimes the original intent changes and the language becomes ambiguous. Sometimes, restating and starting a new lease can be cleaner and allow for terms and conditions that change with the evolution of time, to be incorporated. For instance, the mostly-ignored Force Majeure clause became the “clause of the year” in March 2020, when the COVID-19 closures changed how we all did business. Tenants and Landlords both should ensure terminology is up-to-date.

01/04/2024

Hello to all of our clients! Please note that our business phone has changed to 540-295-5256, effective January 4. Thank you for your business and we look forward to serving you in 2024!!!!

11/23/2023

Happy thanksgiving to our clients and their families! I am grateful for all of you. May your day be blessed and—- go Packers!

11/16/2023

Year-end is quickly approaching. It’s time to think about setting up CAM reconciliations and closing books for 2023. Reach out to us for all your CAM and operating expense rec set up and preparation. Many properties have 1st quarter deadline requirements in their leases. Don’t risk leaving money on the table!

10/30/2023

Let’s talk commercial AI lease abstracting. Artificial intelligence is touted by many commercial real estate softwares as the newest best thing — but it’s not. Sure - you can ask a computer to abstract your complex commercial lease but without an expert human eye on it, you get what the computer spits out. It may be great for very simple leases with no non-standard clauses but there’s hardly a commercial lease out there that fits that picture. You need an experienced lease abstraction company (like us!) to review and abstract all the provisions of your property’s leases. Trust me on this. I “inherited” a property whose leases has been AI-abstracted and guess what? The client had to have us re-do every last one. Maybe someday the technology will be perfected - but there are some things that still require human skill and expertise.

08/26/2023

Fall is upon us and it’s budget season! Need budgets? We can provide help in your preferred platforms (MRI, Kardin, Yardi, Excel).

10/07/2022

Happy Friday! Lease administrators are used to tenants asking for late fee waivers. Just because you have a 5-day grace period doesn’t mean “mail it on the 4th”. I had a tenant argue that she shouldn’t be billed a late fee because she tried to drop off her check on Labor Day when the office was closed and she was inconvenienced. Good try, but, no.

09/27/2022

Fall is upon us. Time for 2023 budgets, and forecasting CAM contributions for next year. Let us help you through the mess of spreadsheets and CAM caps - we can prepare your 2023 packages for your tenants!

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Ladysmith, VA

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+15402955256

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