Tenant Representation and space searches -- We will serve as your representative in locating space for your business or working with you in regard to negotiation of a renewal of your current lease - generally speaking there is no cost to you for this service. Typically the landlord will pay the tenant's representative any fees due if a lease is successfully concluded. Without this representation the only party represented in the lease is the Landlord ! We bring a knowledge of the market and years of negotiating leases for our clients that serve their interest and address critical issues for the tenant ( such as certain limitations on increases in rent).
Here is the typical process that ensues if we are engaged by your business in this capacity :
Here is the typical process that ensues if we are engaged by your business in this capacity :
- We will first meet to determine your needs and preferences as to space, location, rental budget and any other matters that may be important to you;
- With that information, we will perform a thorough canvass of the market to determine which properties and spaces will meet the criteria you have set;
- Typically after review of these results the client will narrow the field to one or two properties and we will arrange for a tour of these properties and the specific spaces;
- If you make a decision to lease one of the spaces we will seek a written proposal from the landlord for your consideration. After review and consultation with you as to that proposal we will begin to negotiate with the landlord to achieve a lease structure that is acceptable to you and that must address critical items such as the payment of capital costs to prepare the space for your needs, base rental to be paid, term of the lease, rights to renew and expand and any provision for increases in rent for increased operating costs.
- You have no obligation to enter into a lease for any space and if we are not able to produce a space and a lease that is acceptable to you then you have no obligation to us. We only ask that all parties are acting in good faith with the intent of concluding a lease if we are able to locate space that meets your criteria and that we serve as your exclusive representative in the process.