LESSON LEARNED: MOST LANDLORDS BILL BASED UPON THEIR “STANDARD” LEASE

GlobeImmune, a biotech firm in Colorado received their annual reconciliation statement showing a significant amount being owed to the landlord. Since the tenant had spent considerable time and effort negotiating its lease, it was surprised by the large bill from the landlord. When the tenant shared its concern with Ken Gooden from Jones Lang LaSalle, Gooden recommended they take advantage of CyberLease’s Preliminary Review service to determine if an audit was warranted. The Preliminary Review revealed an in-depth lease audit was warranted, and the audit ultimately determined the landlord had billed this client without regard to the negotiated terms of their lease document. Rather, the billings were based upon the landlord’s practice of how it billed other tenants with a more “standard” lease. The audit of just 2006’s charges resulted in a refund of $1.35 / RSF for our client. Ultimately, by knowing how to help tenants control their rental costs in the middle of a lease term, Gooden distinguished himself from the other brokers in the market as was subsequently tapped to assist GlobeImmune in a leasing transaction.