Viz Wiz Radio Presents …
Audit Your Landlord: Costly Mistakes Tenants Make and How to Avoid Them
With Real Estate Accounting Wiz,
Michael VanderGoot, CPA
(Click to play)
It’s a fact: Many tenants are unknowingly overpaying on their commercial leases. Due to ambiguous contract language, unfair terms, and differences in lease interpretations, business owners commonly overpay by 15% or more on �����������������������������������������������additional rent” – payments made to their landlords above and beyond their price-per-square-foot charges.
And while certain common expenses are expected to be shared by tenants, many business owners end up shelling out more than their fair share. Join CPA Michael VanderGoot in this eye-opening interview that points out specific lease provisions that may cause some common expenses to be inflated or unfairly allocated. You will learn:
- One way to see if you are overpaying on your portion of real estate taxes.
- What a “gross-up” provision is, and how to negotiate more favorable terms.
- What capital items are, and how these expenses are passed through to tenants.
- Why you need to have your lease reviewed by a real estate accountant, as well as an attorney.
- Why this may be the perfect time to renegotiate your lease.
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About the Expert:
Michael VanderGoot has more than 15 years of commercial real estate accounting experience. He is a member of the American Institute of CPAs and a former Trustee of the New Jersey Society of CPAs. He is a Senior Compliance Officer at BC Compliance Group, LLC responsible for commercial lease and contract compliance reviews and audits covering the United States and Canada.
732.290.3338 Ext 17
Information provided on this page and in the recorded interview is intended for informational purposes only, and is not legal advice.