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Beyond Leases: Other Critical Dates for Multi Unit Operators to Track
Beyond Leases: Other Critical Dates for Multi Unit Operators to Track

Leasecake University

Updated over 4 months ago

Looking to track more than just lease expirations and rent changes? Here’s a list of key dates and events that top Leasecake users rely on Leasecake to manage.


Key Dates and Events

What to Track

Why

Examples

Renewal, expansion, or termination option deadlines

Missing an option deadline can cost you valuable rights to extend or adjust your lease, potentially forcing relocation or renegotiation at less favorable terms.

Lease renewal notices, termination notices

Dates for reconciling common area maintenance (CAM) charges

Staying on top of CAM reconciliation ensures you're not overpaying for shared property expenses and allows you to contest any discrepancies before it's too late.

Annual CAM reconciliation due dates

Due dates for property tax payments

Late tax payments can lead to penalties or even liens on the property, which can disrupt business operations and hurt financial standing.

City/county tax payment deadlines

Expiration dates for business and property insurance policies

Gaps in coverage expose your business to liability risks, leaving you unprotected in case of emergencies or claims.

General liability or property insurance renewals

Expiration dates for operating permits, liquor licenses, health permits

Failure to renew these can lead to fines, operational shutdowns, or legal complications that directly impact revenue and business continuity.

Health department inspections, liquor license renewals

Regular maintenance for key systems like HVAC, fire alarms, and plumbing

Proactive maintenance prevents costly repairs and downtime while ensuring compliance with safety regulations.

HVAC inspections, fire alarm tests

Deadlines for ADA compliance, environmental assessments, and safety certifications

Non-compliance can result in hefty fines, legal disputes, or reputational damage, which can be costly to fix after the fact.

ADA certifications, EPA assessments

Dates for quarterly or annual reports, especially for leases subject to ASC 842 or IFRS 16

Timely reporting ensures compliance with financial regulations and improves transparency for stakeholders and auditors, helping avoid costly penalties.

Quarterly rent reconciliation reports, ASC 842 filings

Key dates for gathering and reviewing lease documents in preparation for an audit

Being audit-ready minimizes the risk of discrepancies, which could lead to fines or unfavorable audit findings.

Lease audit preparation timelines, document collection deadlines

Start and completion dates for renovations, remodels, or new build-outs

Tracking milestones ensures projects stay on schedule and within budget, helping avoid costly delays and ensuring locations are operational when planned.

Renovation completion dates, grand opening dates

Other Location Events

Description

Example

Health Permit Renewal Date

The date by which your location’s health permit must be renewed to comply with local regulations and avoid fines or shutdowns.

Renew the health permit by September 30, 2024.

Fire Inspection Date

The scheduled date for a mandatory fire inspection to ensure your location meets safety standards.

Fire inspection scheduled for January 15, 2024.

Business License Renewal Date

The date when your business license must be renewed to remain legally operational in the location’s jurisdiction.

Renew business license by December 31, 2024.

Equipment Maintenance Deadline

The date by which key equipment at the location must be serviced or maintained to ensure continued operation.

Service HVAC system by March 15, 2024.

Property Inspection Date

The date for scheduled inspections to ensure the location’s property is maintained and complies with safety or operational standards.

Property inspection set for June 1, 2024.

Additional Events By Industry

We asked our Leasecake customers what industry-specific events they track in Leasecake. Here are the top responses:

Restaurants

  • Health and Safety Inspections

  • Liquor Licenses

  • Serv-Safe Certifications

  • Uniform & Linen Contracts

  • Franchise Agreements

Medical & Dental

  • Regulatory Compliance Inspection

  • Health Department Permits

  • Equipment Calibration and Maintenance

  • Hazardous Waste Disposal Contracts

  • Insurance Policy Renewals, including liability, property, and malpractice coverage

Health & Fitness

  • Equipment Maintenance

  • Health and Safety Inspections

  • Asset Leases

  • Utility Contracts

  • Insurance Policy Renewals

  • Zoning and Permits

  • Franchise Agreements

Hair & Beauty

  • Cosmetology Licenses

  • Health Department Permits

  • Inspection Schedules

  • Equipment Warranties

  • Supply Contracts

  • Staff Certification Expiration and Renewal Dates

  • Utility Contracts

  • Insurance Policy Renewals


That's a lot of great ideas! Ready to start tracking these dates? Learn how to set up custom events and attributes in your Leasecake account today!


Disclaimer

The information provided is for general guidance and should not be taken as legal advice. Lease agreements can vary, and we recommend consulting with a legal professional for advice specific to your situation.

Keywords:

Leasecake University, LC University, Real Estate 101, Real Estate Best Practices

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