Ontario Government Entity Cresa

Client

Superficie

Industrie

Emplacements

Services Fournis

Équipe Cresa

Cresa Office

Client Objectives

This Ontario government client initially assigned the Cresa Toronto team with 17 of 29 files to review.
Given the team’s immediate successes, six months into the assignment Cresa Toronto was asked to review their entire portfolio of files.

Following a thorough review of both current years and past years’ reconciliations, the team identified errors in areas such as:
- Recovery of excluded items (i.e. construction fees, interest on undepreciated capital costs, etc.)
- Historic tax appeal credits not refunded at the time
- Excessive office tenants' specific costs allocation
- Management fee higher than allowed in the lease
- Inaccurate proportionate share calculation
- Inaccurate rent payment credit
- Incorrect length of depreciation
- Capital costs recovered in the then current year versus being amortized over its economic useful life
- Inaccurate reconciliation altogether
- Rent charged beyond the agreed upon term
Overall, Cresa Toronto’s client recovered $250,000 in overcharges for the previous 4 years.