Partners National’s corporate real estate services include our Lease Administration System (“LeaseTrax®”), which is a database management program. It is designed to serve the needs of corporate tenants. LeaseTrax can be customized to a client’s needs to provide reports, evaluation, variances, and management of our client’s critical information regarding their current real estate obligations.
LeaseTrax’s Lease Abstract allows our clients to promptly verify the lease term, usable vs. rentable square feet, base rent, operating expense structure, parking, expansion rights, insurance provisions, termination rights, subletting and assignment rights, renewal options, and key contacts.
Our Critical Dates Reporting tracks all of our client’s commencement and expiration dates, renewal notice provisions, termination rights, and termination notice provisions. These reports can be sorted by location, size, product type, rental amounts, and expiration dates.
In addition to LeaseTrax, Partners National can manage the accounts payable function for our client’s real estate portfolio. In this role, Partners National receives copies of all invoices and statements from property owners. Each month these statements are reviewed for appropriateness.
After the Voucher Requests are submitted each month, the lease database is updated to reflect the actual amount paid. This information is entered every month and enables Partners National to compare the estimated costs for the lease with the actual costs per month. A Variance Report is generated monthly, quarterly, or annually as requested.
LeaseTrax is a value added service, which assists Partners National and our clients with the management of their real estate portfolio. This is an excellent tool for financial reporting and strategic planning for future growth, mergers and acquisitions, or consolidation.