Case Study I

Problem:
LeaseWatch subscriber incurred questionable utility charges.

Solution:
LeaseWatch audited and reviewed the utility charges, allowing the tenant to recover $92,000 in overcharges.

A LeaseWatch™ subscriber incurred questionable utility charges so they contacted us and we recommended a lease audit. During the lease audit, the tenant was provided with an Estoppel Certificate to sign due to sale of the tenant’s building (an Estoppel Certificate is a document that buyers and lenders require from a landlord to verify that leases are in full force and effect). The tenant’s lease, like most leases, required the tenant to sign any Estoppel Certificate presented by its Landlord within 10 days.

As part of its LeaseWatch™ subscription, the tenant forwarded the Estoppel Certificate to us. That certificate included language, buried in the boilerplate, which would have constituted a waiver of the tenant’s right to recover for improper charges. We identified that language, modified the certificate accordingly, had the tenant sign it within 10 days as required by the lease, and preserved the tenant’s right to recover overcharges.

We then helped the tenant recover $92,000 in overcharges through audit and review of utility invoices and related documentation. Estoppel Certificates almost ALWAYS have unintended consequences, and tenants are typically rushed into signing them. Our job is to help protect our clients against unforeseen consequences, and to save them money.

Case Study II

Problem:
A national retail franchisee missed an important deadline and its landlord refused to renew its lease at market rates, insisting on a premium.

Solution:
Leasewatch helps clients avoid missing critical deadlines.

A national pack and ship franchisee had an option to renew its lease “at market rates” by providing notice of intent to renew at least 6 months prior to expiration of its current lease term. The franchisee provided notice late, and the landlord refused to renew unless the tenant agreed to pay a significant premium above market rates. The landlord argued that market rates apply only to new tenants and do not reflect a premium for the “goodwill” established by a going concern, or the value to a going concern inherent in not having to relocate.

If this tenant had subscribed to LeaseWatch prior to the date its notice of intent to renew was due, it would have been reminded to renew on time, and LeaseWatch would have prepared the appropriate documentation to do so. This is just one example of the very real costs associated with missing critical lease deadlines that LeaseWatch is designed to prevent.

Case Study III

Problem:
The deterioration of a tenant’s shopping center caused the tenant to lose business which, in turn, made it unable to pay its rent on time. This ultimately resulted in an eviction notice.

Solution:
Leasewatch properly documents landlord breaches and provides defenses to eviction proceedings.

A retail tenant repeatedly complained to its property manager about dirty restrooms, air-conditioning and parking problems, all of which the landlord was required to remedy under the tenant’s lease. The complaints were largely ignored and the tenant’s business suffered.

The down-turn in the tenant’s business resulting from the conditions of the center where it was located, combined with a slow season, caused this tenant to fall behind in its rent. As a result, the tenant received a 3-day notice to quit (which precedes an eviction action). The tenant had no defenses because it failed to properly document its landlord’s failures.

If this tenant had subscribed to LeaseWatch prior to falling behind in its rent, LeaseWatch would have properly documented its landlord’s breaches and provided multiple defenses to an eviction proceeding.

Case Study IV

Problem:
A national retail franchisee was debating whether to move to a new location or renew its current lease.

Solution:
Both opportunities were reviewed by LeaseWatch and our solution provided the client a savings of more than $192,000.

A national retail franchisee was debating whether to move to a new location or to renew its current lease. Both opportunities were reviewed by LeaseWatch. Leasewatch provided a detailed analysis of the applicable real estate rental market. It was determined that a LeaseWatch Lease Renegotiation was warranted, and that a properly renegotiated lease would be more more cost effective than relocating.

After several weeks of negotiations by LeaseWatch, an amendment to the tenant’s lease was executed. The lease amendment resulted in savings of more than $192,000 when compared to the amounts that would have been payable pursuant to its prior lease.

Case Study V

Problem:
A nationally branded LeaseWatch subscriber in the quick service food business lost its air-conditioning, forcing it to rent portable air-conditioning units at a cost of $500. 00 per day and close down for several days when those portable units proved ineffective.

Solution:
LeaseWatch determined that its subscriber’s landlord was responsible to make HVAC repairs and reimburse the subscriber for all costs and lost business.

A LeaseWatch™ subscriber located in South Florida lost its air-conditioning during the heat of the summer. The subscriber made several demands of its landlord to fix the air-conditioning. However, the landlord ignored these demands. The subscriber then called LeaseWatch. We performed a detailed lease analysis and prepared documentation irrefutably establishing the landlord’s liability.

We then contacted the subscriber’s attorney and worked together to secure expedited repair of the air-conditioning, reimbursement of the subscriber’s costs for temporary/portable air-conditioning, recovery of lost revenues, plus reimbursement of all of the subscriber’s attorney’s fees (for a recovery totaling more than $90,000.00).