In the current pandemic situation, many businesses are finding it challenging to maintain up-to-date lease portfolios. Hiring full-time lease portfolio managers, lease administrators, or even executing long-term contracts with lease administration service providers during these uncertain times is not an option for many of them. As a result, they are struggling with a backlog of leases to manage, pending lease audits, and also delays in their recovery of dues.
The industry is turning to month-to-month lease administration services as a solution to this challenge. Month-to-month lease administration services are outsourced lease administration services that help businesses stay on top of their lease portfolio without having to worry about the costs or obligations associated with a yearly contract or the higher costs of hiring an in-house lease administrator. Outsourcing lease administration on a month-to-month basis to a service provider that has a proven track record presents a ‘High-ROI/Low-risk’ solution, that is most sought after in the current circumstances.
Here are some key benefits of opting for an MTM lease administration service model-
No long-term commitment, more financial efficiency, zero contractual obligation
MTM lease administration services help companies become more efficient by eliminating training, HR related expenses, and save on lease agreement interpretation and translation costs. There’s no long-term commitment as companies don’t have to sign an ongoing contract with the lease administration service provider nor are they bringing a lease administrator onto their payroll.
Scale up or down as per your business needs
When you hire an in-house lease administrator or sign up with someone long term to manage your lease portfolio, you are essentially stuck with them, irrespective of your lease portfolio management needs. You have to continue paying them whether you have enough work for them or not. But, with MTM lease admin services, you have full control and flexibility to navigate your lease admin needs. You can get a team of lease administrators to work for you when you have a sizable lease audit load and deploy just one resource when the number of leases to be audited and updated is less. Zero contractual obligations mean you get to scale up or down as you want, whenever you want. This flexibility can mean a lot in the current scenario when the money is tight.
MTM lease administration services make sure that you don’t miss critical timelines due to resource shortages and get timely access to important lease data that help drive key strategic decisions–even in the current situation.
Backed by 14+ years of lease experience, RE BackOffice’s lease administration team is well versed in all leading lease administration platforms including MRI, Yardi, Prolease, Lucernex, and more. To learn more about RE BackOffice’s month-to-month lease administration services, contact us at support@rebackoffice.com.