Net Lease Asset Management
Lease abstracting, rent collection, and full net lease administration for single-tenant and multi-tenant assets, with the rigor institutional owners expect, anywhere in the country.
Why net lease is different
On an absolute net lease, your tenant runs the building. There is no leasing office, no unit turnover, and no two-in-the-morning maintenance call. What the asset actually needs is disciplined desk work. And disciplined desk work does not have to be down the street.
The lease is the asset
Recovery caps, exclusions, and escalation language decide your yield long before the property does.
Errors compound quietly
An under-billed CAM or a missed escalation does not announce itself. It simply never shows up in your account.
Distance is not the risk
Inspections are a vendor call. Administration, reconciliation, and compliance are done at a desk.
Most owners are under-served
Net lease assets are too small for institutional managers and too technical for residential shops.
What's included
Lease Abstracting
- Full lease abstraction from source documents
- Amendment, addendum, and side-letter capture
- Critical date and option extraction
- Recovery, exclusion, and cap language flagged
- Estoppel-ready abstract summaries
- Abstract maintenance as leases change
Lease Administration
- Critical date tracking and notice calendars
- Option, renewal, and escalation administration
- Estoppel certificates and SNDAs
- Assignment and sublease review
Recovery & Reconciliation
- CAM reconciliation and annual true-up
- Recovery cap and exclusion analysis
- Real estate tax and insurance escrow administration
- Operating expense audits
- Pass-through billing and dispute support
Rent & Collections
- Rent collection and owner disbursement
- Delinquency monitoring and reporting
- Late notice and default administration
- Percentage rent and sales reporting review
- Security deposit accounting
- Eviction coordination and support
Financial Reporting
- Monthly owner statements and financial packages
- NOI tracking and performance benchmarks
- Rent roll administration
- Bank reconciliations and cash management
- Individual trust accounts per property
Compliance & Risk
- Certificate of insurance tracking
- Insurance review and claims coordination
- Property tax appeal coordination
- Government and code compliance monitoring
- Legal notice compliance
Physical Oversight
- Scheduled property inspections through vetted local vendors
- Roof, parking lot, and structural condition monitoring
- Landlord obligation verification
- Capital planning and reserve guidance
- Vendor procurement and contract negotiation
Ownership Support
- Acquisition due diligence support
- Lease abstraction for assets under contract
- Disposition and broker coordination
- Tenant credit monitoring
- Portfolio-level reporting across multiple assets
Assets we manage
We administer net lease assets wherever they sit. Lease administration, reconciliation and compliance are desk work. Physical inspections run through vetted local vendors.
Nationwide
NET LEASE ASSIGNMENTS ACCEPTED
1.4MM+
SQUARE FEET UNDER MANAGEMENT
11 years
LONGEST CONTINUOUS RETAIL CENTER ASSIGNMENT
Where the building sits does not change how it is administered.
Tenants we have worked with
Tenant brands shown are occupants of properties McIntire Kingstone has managed.
The clause that cost twenty percent
On a single-tenant pad in one of our managed retail centers, the lease carried a cumulative, compounding cap on common area maintenance recovery. Against roughly thirty-seven thousand dollars of annual operating expense, only about fourteen thousand was recoverable.
That gap did not show up as a maintenance problem or a tenant problem. It showed up in the valuation, roughly twenty percent off the asset's asking price, sitting in a clause that had been in the lease the whole time. This is the work. It is why we read leases before we read rent rolls.
The box that went dark
The anchor of a multi-tenant retail center we managed was a movie theatre. When it closed, the center lost the tenant that brought people to it. And a dark big-box does not sit quietly. It pulls traffic away from every other tenant in the property, and in retail leasing, co-tenancy language means one empty anchor can put pressure on leases that had nothing to do with it.
The box was re-tenanted as a national fitness anchor. Different use class, same square footage, and a transaction that did not run in a straight line: it involved a lender subordination agreement, a negotiated term commencement, and then an assignment when the tenant's own business changed hands partway through.
We administered all of it. The SNDA with the lender, the commencement date, the assignment and the lease file that had to survive all three. We held that assignment for eleven years.
Anchor risk is the thing net lease owners actually lose sleep over. It is not the rent check. It is what happens the day the rent check stops.
We work alongside
We coordinate with owners' existing brokerage relationships and work independently where preferred.
Send us the lease.
The fastest way to know whether your net lease asset is being administered correctly is to have someone read the document. We will review a single lease and report what we find, at no cost.
Request a Portfolio Review