Phone: (212) 757-4305
The York Group LLC and its sister companies were founded in 1991 and have recouped millions of dollars in rent overcharges and saved many millions more in future rental costs for Banks, Corporations, Insurers, TAMI businesses, Utilities, Retailers, Government Entities as well as prominent Law, Consulting and Accounting firms. We satisfy the business requirement to not be overcharged and to save money, if possible.
We are a real estate consulting firm based in Manhattan comprised of a team of experienced real estate attorneys, CPA’s, engineers and real estate professionals with commercial building operations and leasing business experience. The key to our success is the deep expertise and experience our professionals bring to every assignment. Lease audits are a highly specialized due diligence practice that few companies have mastered as it takes a high level of expertise, experience and dedication to the work and to the client.
A York lease audit may seek to verify the operating expense, real estate tax, utility, cleaning and other sundry charges paid by the tenant. That work may be performed on a one- time or on-going basis for one or many office or retail leases located in the U.S. or Canada.
Our work helps clients realize any or all of the following benefits:
• Obtain Refunds of Billing Overcharges.
• Reduce Future Occupancy Costs.
• Peace of Mind that it is not being overcharged.
Help to better manage and make decisions about the lease.
Rent Billing Mistakes are common. Significantly all mistakes favor the landlord and result in overbilling the tenant. Landlords will often fail to apply the negotiated terms of the lease that benefit the tenant. Often billing determinations are made by landlords that improperly charge expenses to tenants. They may be contrary to proper accounting standard practices or the specific terms of the negotiated lease. These improper practices, left unchecked, can significantly improve rental revenues and profits. These misapplications cost the tenant money; thousands if not millions of dollars. Our skilled lease audits will detect even the most complex and esoteric mistakes. We report the overcharges to the client and help cause the landlord to correct its mistakes and issue rent credits or refunds to the client.
These adjustments also prevent and thus lower future overcharges. A York lease audit can and has saved many tenants thousands as well as millions of dollars. Our largest rent adjustment saved our client almost $17 million dollars over the 25 year term of the Lease.
“Lease audit” due diligence benefits the client by saving money and reducing its future rental costs. Our due diligence process of verifying the operating expense, real estate tax and utility charges recoups past overcharges and corrects errors that if not corrected will cost the tenant additional monies in the future. Our reports and advice give our clients useful information about the lease and the landlord’s billing methods. By giving our clients a better understanding of the additional rents paid and the landlords’ methods of billing rent, our clients can better manage and value their leases.
We are client-focused and solution driven. We are talented and expert and provide the best and highest level of service. Each member of our group has experience working for or representing landlords as well as tenants. For these reasons we detect overcharges in almost 40% of the leases we audit. That sets us apart from the competition.
Today, no company--no matter how large or small—profitable or not can afford to pass up an opportunity to save money and reduce expenses. If you want the best results and service from your lease audit consultant, then engage us.
Learn more about our principals that are directly involved in our Lease Audit Due Diligence and Cost Recovery Services:
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