Lease Administration for Multinational Company
Client Represented: Foreign Multinational Company
Location: Bangkok, Thailand
Topline: Located well-suited accommodations and administered lease contracts for all company’s expatriate sta
A foreign multinational company employing over 30 expatriate staff at its office in Bangkok, Thailand appointed CBRE on an ongoing basis as its corporate leasing and lease administration agent.
CBRE Residential Leasing team was requested to locate suitable residential properties whenever any of the company’s expatriate staff are relocated to Thailand, and to manage the expiry or termination of each lease for departing staff.
Each property lease needed to match the company's rental budget and needed to include a number of specific lease clauses such as options for early termination, renewal, and deposit recovery.
The team was also asked to provide an overview of international schools and to conduct an orientation programme for the spouse of each expatriate staff.
A dedicated leasing team was formed in order to ensure a continuous point of contact. Standard processes and tools were tailored to meet the client’s requirements and manage long-term communications with the client’s Human Resources department.
The team arranged temporary accommodation in suitable properties and an orientation programme for each expatriate staff member’s arrival in Bangkok. Shortlists and inspections of suitable homes were organized as soon as possible in order to minimize the cost of temporary housing.
Once the required lease terms had been negotiated, the team managed the handover procedures and assisted each member of staff in settling into their new home.
Thereafter, individual leases were monitored, with advance notice given to the company and the landlord on expiry and lease renewals. In addition, CBRE assisted in revising the budget based on the rental market index for the renewal period.
Over the past ten years, all the company’s new expatriate staff have been housed in a range of suitable apartments, condominiums, and houses, each within a budget, and on the lease terms set by the company. The company and its staff have expressed a high degree of satisfaction with the service provided by CBRE's Residential Leasing team.