Operating in a COVID-19 environment poses many challenges. Our traditional Management environment has been upended as eases may not reflect current COVID related impacts to operating expense pass-throughs. Some practices are evolving. How does one handle operating expense charges associated with COVID-19? How will you now “gross up” costs while occupancy is dramatically low, even while your building is technically fully leased? How does a tenant’s base year for the lease come into play? What is your plan for allocating COVID-related costs, incurred by the building and/or individual tenants? What lease provisions should you review or consider adding in new leases? Are there conservative, moderate and aggressive alternative methodologies to handling operating expense calculations? What are the relative merits of each alternative in the short and long term for ownership and management? Finally, how will you identify the calculation methodology which works best for your building and ownership?
With all the questions above and many more, join panelists Manuel Fishman (Buchalter) for a conversation.