Are You Prepared for a 2020 Lease Audit?

Businesses have endured many unexpected changes and disruptions during 2020, and the impact on corporate real estate and the workplace has been drastic. As your organization adapts for the future and evaluates the cost of office occupancy, you should take action now by preparing to conduct a 2020 lease audit early next year. These preparations include diligently recording relevant information as it occurs, gathering pertinent records, communications and then requesting additional information from landlords where gaps are noted.

In 2020, most businesses experienced several months of normal office operations, followed by many months of remote working, then, in some cases, followed by there-opening and re-occupancy of the office space. For these reasons, conducting a lease audit will be particularly important for the 2020 operating year. By taking a proactive approach to lease auditing, your business could see significant cost reductions by recovering past overpayments and preventing future ones.

Is your organization prepared? You should be able to answer each of the following questions for all buildings where you lease space.

Click each headline below to reveal the questions.

Each business has a unique real estate portfolio, and 2020 has been a year like none other. Your business can reap the benefits of a lease audit by asking these questions and making the necessary preparations now. BDO’s experienced team of advisors can help guide you through the process for an optimal outcome.