What Other Lease-Related Services Can the CPA Firm Provide?
Providing lease compliance review services can become the catalyst that increases the scope of a CPA’s involvement in a client’s financial affairs, because it opens the door to other issues related to commercial real estate and rental occupancy cost control issues. Over time, a firm can establish a niche based on those areas most actively pursued. Lease compliance review work leads logically to the following advisory support services: * Initial and ongoing reviews, * Advice regarding new or renewal lease provisions, * Preparation of financially oriented lease abstracts, * Projections of occupancy cost cash flow, * Development of occupancy cost control procedures, * Assistance in preparing refund claims on past rental overpayments, and * Reporting on contingent lease liability. Furthermore, the insight into a client’s real estate situation may enable the CPA to generate additional fee income from related projects, such as the following: Financial Analysis. The CPA could analyze whether
