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New Client Announcement Property Works, Inc. of Decatur, Georgia has been appointed as the lease management service provider for BCSE, LP d/b/a Just Brakes of Dallas, Texas, a privately held company operating more than 140 automobile service locations in the South and Southwest regions. Property Works spokesperson Kim Finnegan explained that the Just Brakes arrangement is a working blend of Property Works' software and lease management services. She explained that about 60 percent of the chain's locations will utilize Property Works' lease administration capabilities, while the remaining 40 percent of units will be managed by Just Brakes, utilizing online software support. The Just Brakes chain was started in 1980, and chiefly locates its units in strip centers. Until now, the company did not have a formal in-house lease administration department. Finnegan pointed out that Property Works' lease management expertise and the software application being applied to the Just Brakes assignment are ideally suited to medium and small retail chains wanting to avoid the high cost of maintaining an internal lease administration department. The entire conversion to the new system was accomplished within a 45-day period. This up-to-speed attribute appeals to new customers who like the idea of avoiding a prolonged phase-in process. The blending of both software and lease management services is a cost effective solution that allows the Just Brakes team to maximize lease administration capabilities. The 45-day turn-around from the date of first review to being fully online and operational is important, and clearly is indicative of the user-friendly nature of the software and hands-on expertise of Property Works' personnel. Quick implementation means improved effectiveness and related cost savings. Finnegan noted that a growing number of retail companies are learning that once a lease is signed it should not be simply filed away until the renewal date. She said, "That can prove to be costly. Utilizing our services, clients quickly discover the benefits of proactively managing their leases. It is the only way to get the full value of the negotiated lease terms." Under the new client service arrangement, Property Works will audit all CAM and rent invoices, critical lease dates, and pending property management issues for Just Brakes. Based upon past experiences, account coordinators are optimistic that these early audits will prove highly successful and will return important paybacks to the company's bottom line.
Contact: Kimberly Finnegan, Partner, Property Works |
