By hcadmin

Considering a Relocation? A Guide to How Much Time You Need

Tenant Representation, , , , , , , , ,
Market conditions, the size and complexity of the transaction, and option notice dates can help determine when to begin the process of evaluating your office lease. Time should be your ally, not your enemy during negotiations with any landlord. Landlords know that other buildings you’re considering will most likely have to create a space plan, get construction pricing, agree on a rental rate, prepare and execute a lease document, apply for construction permits and prepare the space for occupancy. This is, at a minimum, a 4 to 6 month process. So a tenant that waits until there are only six…
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By hcadmin

Explore Your Alternatives Before Exercising Your Lease Renewal Option!

Tenant Representation, , , , , , , ,
Each lease expiration should be viewed as an opportunity to explore and develop alternative space options. Only after an exhaustive search can the decision to either renew or relocate be made with confidence. Needless to say, this can be a lengthy process which should start well in advance of the lease expiration depending on the size of the requirement. If your first choice is to renew, this process will provide the much needed leverage you will need when negotiating with your current landlord. Most commercial leases typically run between 5-10 years. In well negotiated leases there are provisions to the…
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By hcadmin

These Lease Terms Provide Options

Tenant Representation, , ,
After a lengthy search, you've finally found the perfect new office space. It's so great that, in fact, you're not sure if you should lease or purchase the building. To put you in control, negotiate in your lease options to buy the building if you decide you want it. You can also stop someone else from purchasing it as well. These options, listed below, give you a measure of control and let you avoid the costs and responsibilities of ownership if you are not yet ready to take them on. Option to Buy This negotiated structure gives you the most…
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By hcadmin

Tenants Need To Know – Who Pays For That?

Tenant Representation, , , , , , ,
Typically when leasing office space, most contracts will require that the tenant pays for most, if not all, building operating expenses. However, tenants should not have to pay commissions, improvement costs or depreciation among other things. We found a comprehensive list of those and other items you shouldn't have to pay for at the Ruminations blog. Check it out! In order to protect your interests in lease negotiations, consider engaging howardcommercial. We know the ins and outs of the real estate transaction including all the provisions contained in a lease agreement. A real estate lease is complex legal document with…
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By hcadmin

The Value of an Experienced CRE Broker

Tenant Representation, , , , , , ,
Selecting the right office space is one of the most important decisions a business owner can make. It’s crucial to have an expert commercial real estate broker to guide you through the process. A commercial real estate professional, exclusively representing your interests, will not only  handle every detail of the transaction but they will also provide invaluable insights, connections and business support that will ultimately benefit both your top and bottom line. Access to In-Depth Market Knowledge There are a multitude of places your business could call home. Experienced brokers make it part of their job to be in constant communication with…
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By hcadmin

How Much Time Do I Need To Find New Space?

Tenant Representation, , , , , , , , ,
Market conditions, the size and complexity of the transaction, and option notice dates can help determine when to begin the process of evaluating your office lease. Time should be your ally, not your enemy during negotiations with any landlord. Landlords know that other buildings you’re considering will most likely have to create a space plan, get construction pricing, agree on a rental rate, prepare and execute a lease document, apply for construction permits and prepare the space for occupancy. This is, at a minimum, a 4 to 6 month process. A tenant who waits until there are only six months…
Read More
By hcadmin

Don’t Automatically Exercise That Renewal Option!

Tenant Representation, , , , , , , ,
Each lease expiration should be viewed as an opportunity to explore and develop alternative space options. Only after an exhaustive search can the decision to either renew or relocate be made with confidence. Needless to say, this can be a lengthy process which should start well in advance of the lease expiration depending on the size of the requirement. If your first choice is to renew, this process will provide the much needed leverage you will need when negotiating with your current landlord. Most commercial leases typically run between 5-10 years. In well negotiated leases there are provisions to the…
Read More