Facility Management Services for Triple Net Leaseholders
When You Just Don't Want to Juggle All the Responsibility
Triple net leaseholders assume responsibilities for maintaining all or part of the facilities based on their lease agreement and number of tenants sharing the facility. Companies who hold NNN leases bear the cost of maintaining certain aspects of the building’s upkeep, which could include repair or replacement of roofing, heating or air conditioning systems, along with the day to day management of janitorial and maintenance services for lobbies, hallways, garages, elevators, parking lots and grounds maintenance.
The skillset needed to manage all this includes, but is not limited to, finding appropriate vendors, soliciting bids, negotiating contracts, managing budgets, planning and budgeting for system replacements and handling issues that occur in the day to day operation of the business. For many companies this is just too much to juggle, which is why they come to Team Facilities for help.
TFI Services for Triple Net Leaseholders
- Review lease contracts. Before you commit, get an idea of what to expect. At the time the business is about to lease a facility or renew a lease, it is prudent to have an expert review the lease contract to be sure the responsibilities of the leaseholder are clearly spelled out and that no “grey” areas exist that could result in disputes or unforeseen costs. Having worked with multiple triple net leaseholders Team Facilities knows what to look for in these contracts and how they should be worded to protect the leaseholder and insure roles and responsibilities are crystal clear. This is an area many small businesses gloss over because they are excited about moving in or they don’t know what they don’t know about these contracts and the trouble they can cause. We’ll help you avoid the ‘devil in the details’.
- Review CAM charges. For leaseholders that occupy multi-tenant properties, we can review your CAM charges to ensure they are fair and in line with industry standards. If you don't share a facility, we will ensure there are no hidden charges that should be the responsibility of the property owner.
- Pre-Renewal Site inspection. Gain an edge in renewal negotiations. We will review the state of your current facilities to identify issues and potential failures that can help you negotiate a favorable lease renewal.
- Proactive planning and budgeting. Plan to prevent instead of react and disrupt. Instead of waiting until something breaks and then paying a premium for repairs, Team Facilities will work with you to plan and budget for maintenance repairs and upgrades. This will allow you to conserve cash and avoid business interruptions.
- Help with regular maintenance tasks. Put an expert facility manager on your team. Unless you employ a facility manager, we find that onsite staff often lacks the experience, skillset and contacts to effectively manage the maintenance of the facility. Team Facilities can provide you with complete facility management or ala carte services depending on your needs. Why hire a facility manager when you can hire us and save? (see case study below)
- Leverage our network of professionals. We can help you negotiate vendor contracts or introduce you to our network of professionals, with whom we have negotiated rates.
- MBA level budgeting and planning. We provide a variety of expense reporting and cost management services.
Client Case Study
A Retail Chain with Multiple Facilities Benefits from TFI's Outsourced Facility Management Services
Situation: With multiple triple net lease locations across Southeastern Michigan, this client had its hands full managing their store facilities, which was handled separately by each store manager. The managers, who were busy serving customers and conducting business, were struggling to keep everything in good working order. Frustrated, the client turned to Team Facilities for help.
Results: TFI, using our proven facility management process, began by conducting a thorough review of all expenditures, contracts and contractors for every maintenance function including janitorial, lawn, snow, grounds maintenance, supplies, heating, cooling, and security systems.
Team Facilities identified areas that could be improved and re-negotiated key vendor contracts leveraging the size of the operation and their relationship with key suppliers. They assigned a dedicated Facilities Account Manager to this account to provide 24 x 7 oversight of all work orders, contractors, job follow up and client satisfaction.
Whenever so much as a light bulb goes out, the store calls our dispatch center and the problem is quickly taken care of. The client is delighted with the service and cost savings they are able to achieve working with Team Facilities. In fact one store manager actually refers to us as "the dream team - we dream it and you do it!"
Bottom Line: We help you plan to prevent so you can control your budgets and avoid business interruption. If you’d like to discuss your situation in more detail, please contact us today. We will help you achieve peace of mind as well as significant cost savings utilizing the facilities management services we offer.