| Sales
audits are necessary for a number of important reasons, primarily the assurance
of tenant lease compliance, with particular emphasis on unreported sales
and the resultant percentage rent. Furthermore, sound business practices
demand that retail real estate investments yield the highest returns for
investors. Sales audits will produce increased rental revenue, which over
the length of the lease, will result in increased property cash flow and
added property value.
The
following are the primary purposes of
tenant sales audits:
- Payment by the tenant to the landlord of
accurate percentage rent
- Enforcement of tenant lease compliance
- Deterrence of incorrect tenant sales recording,
reporting and rent payment practices for the length of the current lease and future
periods
- Education where necessary of retailers in the
area of their lease percentage rent obligations
Professional
independent service providers specializing exclusively in tenant sales
audits, such as Compu/Audit, Inc. are often called upon at the request
of the property manager to perform gross sales audits in order to be assured
that a tenant is complying with their lease obligations.
Is the tenant really
living up to their lease obligations? We provide the answer. To review a sample
of our tenant sales audit reports please go to the Reports section of this
website.
How much does
this service cost? Absolutely no more than $875 per tenant sales audit,
including all costs. The importance of timeliness requires that tenant
sales audits should be completed promptly. Our report is issued to
our clients within forty-five days from the time of audit. Professional
audit standards and expertise are essential. This is why landlords, property
managers and lenders from coast to coast call upon Compu/Audit, Inc.
to perform tenant sales audits for them. |