The Leasing Process: What to Expect
Leasing commercial real estate is a complex process! We strongly suggest that you start the process at least 6 to 8 months before your lease expiration or desired move in date. Whether you're renewing your current lease, expanding, relocating, or starting from scratch, it's extremely important to start early and allow ample time. This ensures a smooth transition and gives you a position of strength with landlords.
Fortunately, Commercial Office Advisors looks after the details so you don't have to. Our expert and thorough approach supports you every step of the way and ensures that your critical needs and deadlines are met.
Here's a summary or our leasing process:.
Evaluate Your Needs: We review your existing lease and help you define your commercial real estate goals and needs. We help you establish a budget and a timeline, determine your current and future space and layout needs, and brainstorm about your ideal location.
Provide a List of Options: Based on our conversations with you, we examine the market and identify every possible property that meets your specific criteria, then give you valuable comparative information on available spaces--including your current location. We present photos, flyers, floor plans, and rate information so you can easily select the most desirable options.
Request Lease Proposals: We send an RFP (request for proposal) to the landlords of the top 2-3 properties. The RFP conveys your requirements and preferences to the owners; their response enables you to make an apples-to-apples comparison among proposals.
Comprehensive Analysis of Proposals: We conduct a full comparative lease analysis that covers key lease and financial points such as rental rates, lease terms, operating costs, construction and rent allowances, moving and furniture costs, and expansion and renewal options. This analysis provides you with a clear comparison of the proposed terms and costs so we can develop creative counter-proposals.
Negotiation and Final Selection: Counter-proposals may go back and forth for some time--we persist until we are confident that the landlords have proposed their best, most competitive terms. Based on your objective and subjective criteria, we work with you to select the best property for you, then negotiate a lease that fits your company's needs.
Finalizing the Lease: Lease provisions involve an enormous range of matters that can affect your business, either negatively or positively, for year to come. Working closely with yours or our legal counsel, we negotiate a final agreement that protects you and reflects all the terms and conditions agreed upon.
Construction and Move-in Coordination: We work with your landlord, contractor, and architect to ensure that the space is built out on time to your specifications. Thanks to our strategic alliances with related service providers (internet, phone, movers, etc.) we can advise or assits you with every detail of the move-in process.