Posts by Scribcor Global

Scribcor Global Lease Administration is a full-service lease administration company dedicated to helping clients manage their leases in a more efficient manner while monitoring portfolio opportunities, mitigating financial risks, and sending savings to the bottom line.

Year End Lease Administration in a 2020 World

This year, it is more important than ever to prepare for year-end lease administration activities.  During a year where some leases were modified for pandemic related reasons, some lease assets are impaired, expenses for health and safety efforts increased, physical...

Retail Tenants and Landlords Evaluate Potential New Rent Arrangements due to COVID-19’s Impact on Sales

Many retailers are demanding better terms from landlords as the COVID-19 pandemic slows sales, such as paying a percentage of their sales as rent rather than a fixed monthly or quarterly fee. To offset some of the new risks, landlords are seeking to include a portion...

IASB Proposes Coronavirus Relief on How Companies Account for Their Rent Concessions

Under the current ASC 842 lease accounting rules, rent concessions and other lease modifications could trigger the remeasurement of right of use assets and lease liabilities for each lease affected.  If you report under the international standard IFRS 16, help is...

Preparing for Potential Disruption – Three Concerns

Heightened concern over the spread of coronavirus is building worldwide consistent with the increase in number of confirmed cases.  The virus has been reported in the Chicago area and proactively, like many other firms, we are taking steps to confirm that we are able...