An office relocation doesn’t happen overnight. But if you do it right, it’ll look that way to your coworkers. Although the process of identifying and leasing space should start around a year before your final move date, the actual move timeline starts about six months prior to when you relocate to your new space. Here..
CONTINUE READINGOne of the challenges of starting and growing a business is finding the right space. After you have narrowed your new commercial space down to a few options, for the most part, you have met your due diligence requirements—budget, type, location, and size. Now comes the daunting part—negotiating the lease. Even if the local market favors buyers,..
CONTINUE READINGGenerally, commercial landlords send out operating expense (OPEX) reconciliation statements for the prior year 90 to 120 days after the end of the calendar year. Many tenants receive a bill that does not provide sufficient explanation of the total amount billed or provide supporting documentation. Typically, most commercial landlords assume that tenants won’t check expenses..
CONTINUE READINGBesides rent, commercial tenants who rent space incur a number of occupancy costs. They may include common area maintenance, property tax payments and other expenses beyond their monthly rental payment. When you negotiate a commercial lease, it’s important to find out from the broker what other expenses are associated with leasing the premises. In many..
CONTINUE READINGCommon in regional shopping centers, percentage rent clauses in leases are not limited to that venue. While a percentage lease can help to motivate a landlord to promote his property, increasing your sales and his rent collections, it also carries the potential for wild swings in your rent that accrueto your landlord’s favor instead of..
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