Lease Consultant -- The Process
Because the leasing process can be intimidating, we have come up with a method to make it simpler. This advice section offers insight for what lies ahead in your leasing process, and where applicable, what you can expect by engaging Concrete Stories commercial real estate advisory services.
It is essential to develop a comprehensive timeline.
The timeline should start with the determination of your requirements and end with the move-in
date. It is very important to start your search early, set realistic
goals from the outset, and acknowledge that every step takes time. We recommend starting
your leasing process a year before your current lease expires.
An effective timeline allows you enough time for negotiating. Simply stated, insufficient time weakens your negotiating position.
On average, tenants enter the leasing process once every five to ten years. Your first
order of business is to assemble a team of skilled and experienced people
who do this everyday. It will save you and your staff much time and money.
This team generally includes a real estate advisor, space planner, an architect and a real estate attorney early in the process, and contractors and movers towards closing.
A successful team will navigate through this process with you, considering your needs throughout. We will help you create this team.
It is imperative to define your present and future needs in terms of location,
physical premises, cost and lease requirements with the cooperation of
your team. It is much more efficient to select potential spaces having thought through your future needs.
We know this is not an easy task and have included a variety of tools to assist you in the process.
Our space planner and lease
calculator will prove to be excellent resources in determining these
needs.
Searching for space is best done with guidance. An advisor will carefully assess your explicit and implicit needs within the boundaries of the market.
Our search page offers a tool with which to gain familiarity of the market. Gauge your requirements against the listings
information, and feel free to call us to answer any questions.
Relevant, efficient and productive space tours are critical, value-added services you should ensure you receive. Your advisor is your link to the marketplace and should provide you with opportunities to optimize your business plan - not just meet your space requirements.
Your advisor will analyze the market and inform you of comparable rent prices
for the spaces you are interested in negotiating. This market rent analysis
will enlighten you to what other companies are paying for space - not
necessarily landlord’s asking price. With this information in hand, you are ready
to start negotiations.
Concrete Stories has created a construct for lease
negotiations that attempts to ease what traditionally can be a difficult
part of the process of leasing space. The result, is not only
more user-friendly, but also incorporates elements that save
time and money. Our real estate advisors will be available to ensure that all the players involved effectively manage the lease documents.
You will also have a seasoned senior advisor by your side during the entire
negotiation process. Your advisor will work with you and your real estate
attorney through every step of the lease negotiations.
For more information on negotiations, see Negotiation Tips.
During the leasing process, there are many service providers to coordinate to ensure that your new space is in move-in condition. For example, engineers and contractors need to be hired, furniture needs to be ordered, telecommunication lines need to be installed and movers need to be reserved.
The work continues after the lease is signed, and we will continue to assist you.
Here is a short list for your consideration: