CFO's are great at overseeing finance and accounting, understanding business risk, and dealing with regulations. Yet many companies don't understand the nuances around one of their biggest line items...real estate.
Companies don't have a lot of good options when it comes to managing leases internally. Larger companies (>$100M revenue) can justifiy hiring internal real estate professionals as the need for better decisions and more accountability overcome the costs associated with a new department. For most companies, this simply isn't feasible. Often the responsibilities are left to the CFO, controller, accounting department, or even regional managers who have little to no experience with negotiating or navigating leases.
Potential risks begin to arise as companies grow. These risks include:
Greater exposure to litigation from non-compliance with lease clauses
Increased costs for rent penalties and CAM reconcliliations
Decreased productivity as companies deal real estate instead of core responsibilities
Missed opportunities from option notices, first rights of refusal, and other key timelines
Increased risks from a lack of understanding lease obligations, terminations, key reports, and accounting compliance
Quality lease administration can address these risks and help your company grow.
Let your CFO do what they're good at. Stop putting them in a tough spot.