The Lease Admin’s Checklist for Year-End

Summary:
Year-end is a high-stakes period for lease administrators and real estate teams. Renewals, expirations, rent escalations, amendments, and operational planning all converge alongside financial close. The following checklist outlines the key steps required to maintain accurate lease data, support internal stakeholders, and enter the new fiscal year with confidence.

Download the Year-End Lease Administration Checklist (PDF)

1. Validate All Critical Dates

Critical date management is one of the most important responsibilities for lease administration at year-end. Review and confirm the accuracy of: - renewals and expirations
- notice and option deadlines
- rent commencement dates
- rent escalations
- termination rights
- holdover risks

Ensure reminder triggers are set and confirm which stakeholders need to take action before deadlines lapse.

2. Confirm All Lease Modifications and Amendments Are Entered

Throughout the year, leases change frequently. Before year-end, verify that: - all amendments are uploaded and abstracted
- rentable areas, commencement dates, or operational details have been updated
- rent adjustments or option exercises are fully reflected
- any pending modifications are tracked for follow-up

This ensures operational accuracy and prevents misalignment with accounting teams as they prepare for close.

3. Reconcile Rent Schedules to Source Documents

Rent schedules often diverge over time due to missed escalations, delayed CPI adjustments, expired rent holidays, or landlord updates that were not recorded. At year-end: - reconcile scheduled increases
- validate CPI or market adjustments
- confirm fixed, percentage, or step rents
- review landlord-provided updates or corrections

This ensures next-year budgeting and payment accuracy.

4. Review Upcoming Critical Dates for the Next Fiscal Year

Once current-year milestones are validated, shift to forward planning: - identify renewals and expirations occurring next year
- confirm which leases require executive decisions
- plan for occupancy changes or construction timelines
- identify opportunities for renegotiation or portfolio optimization

Real estate leadership relies heavily on this visibility during Q4 planning cycles.

5. Ensure All Lease Documents Are Organized and Tagged Correctly

A clean document repository supports internal controls, audit processes, and day-to-day operations. Year-end is the best time to: - verify all leases, amendments, exhibits, and attachments are present
- standardize naming conventions
- tag documents with location, entity, and category metadata
- remove duplicates or outdated drafts
- store landlord correspondence and finalized adjustments

This prevents version-control issues and speeds up audit requests.

6. Cross-Check Lease Data With Accounting

Even though this checklist is written for lease administrators, cross-functional coordination is essential — especially near year-end.

With light ASC 842 alignment, confirm with accounting: - that all modifications have been communicated
- rent schedules match what accounting expects for close
- commencement dates and rentable area changes are consistent
- any open accounting questions are resolved

This prevents downstream discrepancies in year-end reporting.

7. Validate Landlord and Vendor Information

Outdated landlord or vendor information creates unnecessary friction. At year-end: - confirm landlord contacts
- update remittance addresses and W-9s
- verify payment instructions
- record escalation formulas or CPI methodologies
- log dispute history or unresolved issues

Accurate contact and payment data reduces operational errors heading into the new year.

8. Review Operating Expense and CAM Reconciliations

Year-end is a major checkpoint for: - CAM true-ups
- operating expense settlements
- pass-through adjustments
- reconciliation statements and backup documentation

Ensure that: - prior-year reconciliations are stored
- adjustments are recorded
- disputes are documented and addressed

These costs influence budgeting and should be accurately reflected before planning cycles finalize.

9. Prepare Reporting Packages for Internal Stakeholders

Leadership, FP&A, accounting, and legal teams often request: - critical date summaries
- lease abstracts
- renewal/expiration visibility
- rent schedule reports
- amendment logs

Preparing these proactively supports budgeting, audit readiness, and operational planning.

10. Resolve Open Tasks and Outstanding Issues

Before closing the year: - clear abstraction backlogs
- resolve pending landlord correspondence
- close tickets or issue logs
- convert temporary workarounds into finalized data updates

This resets the portfolio for an accurate start to the new year.

11. Review User Access and Permissions

A year-end permissions review ensures: - old access is removed
- roles reflect current responsibilities
- temporary reviewer or auditor access is updated
- permissions align with internal controls

Proper access management supports data integrity and audit requirements.

Conclusion

A well-executed year-end process gives lease administration teams the clarity and visibility needed to support renewals, operational planning, budgeting, and audit readiness. By validating data, reconciling rent schedules, coordinating with accounting, and organizing documentation, real estate teams can enter the new fiscal year with stronger control and fewer surprises.

Lease accounting software built with the reporting that your team needs.

Download the Year-End Lease Administration Checklist (PDF)

This article is informed by common industry practices and year-end workflows used by real estate and lease administration teams.

Brooke Colglazier

Marketing Manager