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Case Study

Lease administration program yields $11 million in savings for healthcare company

Jones Lang LaSalle lease administration experts recently identified more than $11 million in savings for a global healthcare company.

The healthcare company’s previous lease administration team was understaffed, so records—where available—contained errors. Also, neither invoices nor statements had been retained. To assemble reliable records, Jones Lang LaSalle located copies of more than 3500 lease documents. Then, we condensed these documents into a format called an abstract, which contains only the most important information. Abstracts were than loaded onto our web-based lease administration software.

Careful review of all statements led to the identification of overpayments and credits. Rents had been paid on closed locations and leases that had been terminated. Fees had also been paid to landlords for services, like cleaning, that were no longer provided by that landlord.

Jones Lang LaSalle recovered $11 million in savings. The entire transition process took just three months.

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