Administrative Services

Contract and Lease Administration

Proactive and diligent contract and lease administration is a fundamental part of our comprehensive property and asset management service.

All property files are easily accessible online via ALDER Access, our secure custom-built paperless document management system. We keep owners informed of upcoming critical dates including lease expirations, rent commencement dates, loan maturity dates and insurance expirations dates.

We correspond with tenants and vendors to properly enforce each vendor contract and lease provision.

Web Portal to Property Documents

Real-time Online Access to All Property Documents

ALDERAccess is our own custom-built, web accessible, paperless document management system that integrates with Yardi Voyager’s accounting platform to provide a 365-degree view of all property files.

Access the most current information about your property when you need it. From wherever you are; whether you’re at the office, at home, on vacation or onsite at the property. Easily pull up the document you need on your tablet, mobile phone or desktop computer.

Rest assured that your asset is being managed in an organized, transparent and first-class manner., because we open up our internal systems to our clients.

With ALDER Access, our clients enjoy the benefits of efficiently managed property documents including:

  • Leases
  • Vendor Service Contracts
  • Mortgage Documents
  • Monthly Financial Reports
  • Budgets
  • Bank Statements
  • Invoices and bills
  • Insurance certificates
  • Correspondence
  • Rent Check Images
  • Tenant Sales Reports
  • Construction Drawings
  • Floor Plans and Site Plans
  • Partnership Agreements and more

Information On Demand

You can always count on a single point-person to keep you informed of all property issues. However, if all you need is to set your eyes on the latest AR report or lease agreement afterhours, all of your property information is at your digital fingertips 24/7 from anywhere in the world.

There is no need to wait until the next monthly report to check on the status of your asset.

Get Instant Answers to Questions:

Where are the latest architectural drawings?

What vendor service and maintenance contracts are currently in effect?

What’s the latest correspondence regarding that dispute with the tenant on the 9th floor?

Has XYZ vendor provided their certificate of insurance?

Intelligent Collaboration

An added advantage is that the cloud-based ALDERAccess allows for easy online collaboration among key players — from owners and investors, to lawyers, tenants and even outside vendors.

An eviction attorney checks a lease provision on the way to a court appearance; an architect reviews a site plan with his tablet while meeting with a contractor in the field; and an asset manager reviews mortgage documents to check reporting requirements.

Great outcomes are achieved when all parties are sharing information, communicating efficiently and working together.

Everything in One Place!

Storing all information in one location is the first rule of effective organization. All property documents are scanned or uploaded into the system from multiple sources including snail mail, email attachments and faxes to provide a centralized all-inclusive repository for all items related to your property and real estate portfolio.

Here are the many benefits and features of ALDERAccess:

  • Provides a searchable database of all leases, contracts, invoices and other business critical documents in a secure and centralized location.
  • Ensures organized filing with a predictable hierarchal folder structure, designed specifically for real estate document management.
  • Enforces consistent file naming conventions to ensure that each document is properly labeled for easy identification.
  • Integrates with ALDER's accounting system to leverage property, tenant and vendor metadata information to name files and folders, tag and categorize documents and enhance keyword searching functions.
  • Accesses critical information in seconds, instead of waiting hours or days for someone to send an email or mail a package.
  • Helps decision makers locate the information they need to take quick action.
  • Improves the efficiency of employees, encourages collaboration among the whole team both internally and between outside partners, tenants, vendors, owners and investors.
  • Increases accountability and provides unparalleled transparency to owners, partners, auditors and asset managers.
  • Controls who has access to content, safeguards and secures sensitive or proprietary information with granular level permissions settings.

Lease Administration

Turning Complicated Leases into Simple Action Items

Commercial leases can get complicated. Care and diligence are needed when dealing with varied lease forms and non-standard lease provisions. Our lease administration ensures that your tenants live up to their obligations and landlords live up to theirs.

The most critical first step we take – which is the key to accurate lease administration -- is our thorough abstraction of all significant lease provisions.

All relevant data, including charge schedules and critical dates are entered into the accounting system or property calendar.

Avoiding Expensive Mistakes

Even small mistakes add up, especially across a national or regional portfolio. Missed rent increases, overlooked miscellaneous charges and forgotten early termination rights, cost owners and investors tens of thousands or even hundreds of thousands of dollars.

Tracking and Acting on All Significant Provisions

Our lease administration services include:

  • Lease abstracting
  • Commencement Date Notices
  • Rent Commencement Date Tracking
  • Delivery of possession
  • Enforcement of retail sales reporting requirements
  • Insurance compliance tracking
  • Rent increase charging and tracking
  • Common Area Maintenance (CAM). Capturing pro rata shares, base years, caps and expense exclusions.
  • Exclusive use and restricted use enforcement
  • Tracking renewal option notification deadlines
  • Processing of assignment and estoppel requests
  • Critical Date Tracking
  • Security deposit accounting

Critical Date Tracking

In order to provide enough time to make strategic decisions and take appropriate action, we track all significate dates and alert management, leasing agents and ownership of all significant property events including:

  • Upcoming Lease Expirations
  • Mortgage maturity or balloon payment dates
  • Tenant early termination rights, including sales-based kick outs
  • Lease extension option notification deadlines
  • Rent Commencement Dates
  • Delivery of Possession Deadlines
  • Insurance expiration dates
  • Vendor contract expiration dates

Insurance Management

Adequately insuring each asset is vitally important in protecting owners and lenders against property damage and other liability claims. We also recommend rental/business interruption insurance to ensure cash flow continues in the event of an incident.

Up to 70 Percent Savings on Premiums!

We help provide significant savings on premiums by leveraging portfolio pricing and our relationships with trusted insurance brokers. In some cases owners save up to 70 percent! This expense reduction may significantly increase NOI and capitalized value.

Spread-Out Premium Payments

Financing is also a helpful option. Rather than paying a full year’s premium in advance, properties with tight cash flow benefit from paying premiums with a payment plan over time. However the benefit of stabilizing cash flow must be weighed against the additional interest expense.

Enforcement of Vendor & Tenant Insurance Requirements

We abstract all leases and vendor contracts to record and track insurance requirements. We review insurance certificates to ensure compliance with contract provisions:

  • Limits must meet or exceed requirements
  • Types of coverage checked for compliance: e.g. commercial general liability, property, worker’s comp, disability, auto
  • Additional insureds list
  • Cancelation notifications required