Learn how to control costs associated with your real estate common area.
After payroll, real estate is typically a company's largest expense. Did you know that up to 70% of leasing costs are from building or center operating costs, taxes, and utilities? Obligations for these items are often buried in complex lease language under headings like common area maintenance charges, operating expense escalations, building expense obligations, expense recovery, etc. This course will focus on how commercial leases are structured, where these financial obligations live, and how they operate in the real world. It will demystify the difference between gross and net leases and the variations in these types of clauses. It will also dive into how and why landlords and tenants often misinterpret lease language, which can lead to errors in tenant charges. Learn how to manage these charges and keep them under control.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Gross vs. Net vs. Triple-Net Leases
- Purpose of Distinction
- Typical Use in Office, Retail, and Industrial Settings
Operating Expense Pass-Throughs
- Purpose
- Methodology
- Caveats
Operative Lease Language
- Inclusions vs. Exclusions
- Shares of Expenses
- Operating Expenses vs. CAM
Capital Expenditures
- What Is Capital?
- Typically Allowed Capital
- GAAP Definition Driven by Repair
Lease Audits
- Lease Audit Rights
- Scope
- Process
- Restrictions
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 27, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.0
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Marc E. Betesh, Esq., MCR.h
Visual Lease
- Founder and CEO of KBA Lease Services, the leading lease auditing firm, and Visual Lease, the #1 lease optimization software provider
- Practiced law in New York City where he negotiated commercial leases; as an attorney, Betesh became widely recognized as an expert on commercial lease negotiation, lease interpretation, and expense reimbursement clauses; during this time, he conceived the idea of lease auditing and introduced it to the commercial real estate industry, which led him to create his two companies
- Instrumental in shaping the foundation of lease accounting standards in the industry, which are still in practice today, making him a thought leader on the standards (GASB 87, ASC 842, and IFRS 16)
- Regarded as top-rated faculty at CoreNet Global Learning and often lectures on lease topics at New York University’s Real Estate Institute, American Bar Association, Association of the Bar of the City of New York, Practicing Law Institute, ICSC, Lorman Education Services, and the Institute of Internal Auditors
- Active member of the New York and New Jersey Bars
- 2018 and 2019 Finalist for The EY Entrepreneur of the Year New Jersey Awards
- KBA was the pioneer of commercial lease auditing in 1985 and remains the signature firm in the industry; it has represented thousands of companies in almost every leasing market within the U.S., helping them to eliminate overcharges in their commercial leases; Visual Lease is the #1 lease optimization software provider that helps organizations become compliant with FASB, IFRS, and GASB lease accounting standards, while simultaneously improving the financial, legal, and operational performance of their leases; it incorporates numerous lessons learned through KBA’s work and is one of the top systems in its field, used by 800+ organizations to manage 500,000+ real estate, equipment, and other leased assets
- In 2021, Visual Lease was named a Best Place to Work in New Jersey by NJBIZ and ranked in the top 20% of the Inc. 5000 list and included in The Deloitte Fast 500™ for the second consecutive year; the organization was also included on the list of The Top 100 Software Companies of 2021 by The SoftWare Report and honored with a Bronze Stevie® Award in the Fastest Growing Company of the Year category in The 19th Annual American Business Awards®
- J.D. degree, Georgetown University; B.A. degree, Temple University
- Can be contacted at [email protected] or www.visuallease.com
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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