Offices
Lease Expense Management for Office Occupiers.
- The challenge
The dual impacts of high energy costs and inflation have impacted office occupiers the most, with service charge costs increasing to record levels in 2023.
As we move in to 2024, we are seeing service charge rates plateau at these new highs. Representing an increasing proportion of overall property occupancy costs, it seems clear that 2024 will be a year when the focus on service charges becomes even greater.
- Solution
VeriviTM is our own proprietary software platform. It provides visibility and control of service charges, insurance, rent data and more, across your property portfolio. Comprehensive data collection and detailed reporting functions mean that we can ensure ongoing lease liabilities across all expenditure headings are challenged, managed and controlled.
- UK Offices Index
After 2 years of significant service charge inflation, office service charges are now at a record high, representing an increasing proportion of total property occupancy costs. Find out what is around the corner and what you need to do to prepare.
“IWG has worked with Assure since October 2018, initially undertaking a trial of twenty sites before being instructed to represent us across our whole UK property portfolio in 2019. Assure’s support has resulted in substantial improvements in the management of our service charge liabilities across our portfolio. Budgets and reconciliations are received in a more timely manner and Assure is able to utilise its substantial pool of service charge data to provide us with detailed benchmarking information, which assists us greatly with management of our property costs. I would recommend Assure’s services to any occupier of leased property who is keen to proactively manage their lease expense costs and ensure that they are receiving value for money from their landlords.”