How does it all work? In the simplest explanation, you are paying someone for the use of a space. See the following steps for a little clarification of an often unfamiliar process.
Step 1 - Identify Your Need
What need do you have? Are you a new business looking for space? An existing business looking to cut costs? Or grow? Identifying first the type of need that you have, will clear the way for an easier process. Consult a Tenant Representative for help!
Step 2 - Define Your Criteria
Don’t waste your time driving around town calling on signs without a solid understanding of how you are going to use a space and how much you need of it. You can look at your need for exposure, signage, privacy, corporate image, security, parking requirements, location,etc. Once you have some criterion developed, then and only then, does the search begin.
Step 3 - Create the List
This step involves creating a list of potential properties and touring each. A time for evaluation and review will follow as the pool narrows. Once the final few properties have been identified, offers are submitted to each landlord.
Step 4 - Let the Negotiations Begin
This is why you hired a professional – they negotiate for you. It’s the role of the Tenant Representative to work with you and the building owner/agent to secure the best deal available for you. Whether rate, lease language or term is particularly important, a Tenant Representative can help position your company in a lease that makes sense, both now and in the future.
Step 5 - Build-Out and Commencement
Depending on the tenant improvements that are to be completed, this step may be simply when to pick up your keys, or it may require months of meeting with architects, contractors and the like to ensure the space is just as you need it. This time will require diligent follow-up and teamwork with both the landlord and the contractors involved. We walk you through this process step-by-step. Once completed, then it’s time to pick up your keys and put that desk in the just the right spot. Congratulations, you just leased space!