Planning on getting your leases abstracted? Here are 7 things to do before getting your leases abstracted.
Did you heave a sigh of relief when the FASB compliance was pushed out to 2021? Your relief may have come a little too soon. Companies who have implemented or started the implementation process can tell you that it’s not an easy transition. This is especially true because the number, term, and type of lease will affect compliance. If your company is yet to get started on the implementation under the new standards, you may want to consider the following issues –(more…)
Due to the ever-increasing need for better and improved networks, telecom companies have to constantly innovate in order to stay relevant with the changing technology and meet changing consumer needs. Due to this constant innovation and upgrading as well as the ease and affordability of leasing–rather than owning–many telecom companies are expanding their infrastructure by acquiring assets on lease. As a result, telecom lease portfolios are large and complex. But telecom companies have their fair share of struggles in terms of project completion, resource utilization, and untimely payments. Let’s look at some common challenges and how it can be resolved.(more…)
In our previous blog, we spoke about CAM & tax billing errors and why the possibilities of such errors make it imperative to have a well-defined Right to Audit in the lease. But the tenant’s auditing rights can be ambiguous and limited. To address these issues, a clear understanding of the various levels of audit rights and limitations is required. In this blog, we explore the different levels of audit rights every tenant should be aware of.(more…)