Lease Audit, History of Lease Audit, How to Perform Lease Audit, Be a Lease Auditor, Lease Audit Process, Types of Lease Auditors, Lease Audit Courses

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PRODIGY® means Professional	Lease audit is a systematic process comprised of the examination of all documents associated with the lease, the measurement of space and the interpretation of lease language. It is believed that lease audit was originated from the United States. You now can find lease auditors in Australia, Canada, United Kingdom and many other countries. There is no licensing requirement to be a lease audit, however, you have to be knowledgeable in the fields of accounting, law and real estate in order to be a competent lease auditor. In the past, when lease audit was a new term, lease auditors were traditionally lawyers, accountants and leasing managers who wanted to develop their career path on lease audit. Nowadays, lease audit is a very distinctive profession and its expertise is so special that it goes beyond the scope of each of those professions. Regardless of their original professions, all lease auditors have to be trained in all the accounting, legal and real estate fields. Lease auditors are sensitive to figures and lease provisions, so that they can easily find out the problem areas in the lease and locate the discrepancies. Documents such as invoices, statements, amendment to lease and other correspondence from the landlord, as well as data from other sources will be audited to determine whether charges assessed by the landlord under a tenant’s lease have been proper. Normally, it is the landlord who overcharged a tenant and the tenant therefore needs to perform a lease audit. Landlords, on the other hand, may also perform a lease audit against a tenant; this is mainly because of the percentage rent charged. There is only one institute in the world that provides lease audit training via distance learning. It is Fox College of Business in Canada.
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