Launched in November 1992, MacMunnis is a global services company offering full lease administration assistance to businesses. Headquartered in Evanston, Illinois with satellites in Canada and the United Kingdom, MacMunnis, Inc. provides state of the art solutions to businesses through its customized process design and proprietary software, MILM++ online.
T hrough the 60’s and 70’s, real estate documents were written in simpler, standard language that clearly indicated lease terms, rent payments and limited tenant liabilities. Tenants paid little attention to operating expenses, as these were left up to the landlord to manage. Often, many hidden expenses were “passed through” to the tenant. The mid-eighties then brought corporate downsizing, causing tenants to become much more vigilant in terms of expenses and cash outflows. However, the growing complexity of leases often made them difficult for tenants to interpret and administer. Missing a key date or lease option often meant thousands of dollars to a tenant. Today, even mid-size companies have rather complex lease agreements, and managing the various lease parameters and transactions is often difficult even for the most dedicated real estate professionals. With the pressures of increased profits, companies began to realize the importance and complexity of lease administration, as well as the need to acquire the skills, either internally or through outsourcing, to manage it successfully. The industry specialty resulting from this need became known as Commercial Real Estate Administration Management.
D eveloped for an international audience hungry for information across a variety of sectors, MacMunnis’s team of top-tier legal and financial experts have been drawn from a host of educational and industry leading outlets.
Created by founders, Brice and Stephanie Weeks, MacMunnis, Inc. offer comprehensive global reporting under a single administrative product. In print and online, legal and accounting experts are deployed to capture and deliver opportunities on existing contracts including critical date figures, relevant contacts, pertinent clauses and cost capture. MacMunnis, Inc. offers the very latest in emerging trends, fresh forces in popular business culture and inspiring AP/AR solutions.
In 2003 and 2008 respectively MacMunnis established a Canadian and European entity in response to a growing demand for international expertise. MacMunnis currently process rent payment/feeds for Canada, Europe, Asia Pacific and Latin America.
Scalable Lease Administration is offered as full service outsourcing or on an a la carte basis including:
Abstracting, AP/AR for rent payment processing, sub-lease invoicing and sub-tenant rent collection, all financial and critical date tracking per the contract (i.e. base rent, CPI, and other escalations, CAM, real estate taxes, insurance, after hours charges, utilities, proportionate share, etc.), automatic e-mail reminders, financial and management reporting, electronic file cabinet , budget preparation, security deposit and tenant improvement process design for quick collection, tracking and administering property tax, responsibilities help desk/work order assistance, secure on-line access to lease data, other contract administration, risk management reporting, CAD uploading, project tracking, data uploading, international capacity (Global tracking, rent payment and collection in Canada, the UK and Asia Pacific).