Level 4, Augusta Point,
  Golf Course Road, Gurgaon,
  India # 91-9810 66 85 85
9650 70 66 99
  Email id info@infinityrealestate.co.in
   
 
 
Leasing Tips for Commercial Space Finders
Hire an Experienced Tenant Rep Broker
 
Does Your Company rely on Chartered Accountants for financial matters, Attorneys for legal matters, and Managers for productivity matters? Of course! Relying on a Tenant Representation Broker is essential to handling Corporate Real Estate.
   
Understand Your Objectives
  When we meet with our clients, we go through a detailed Needs Analysis with them to understand the strategic needs of their company and how the corporate real estate component can help them be more competitive in the marketplace, attract strong talent, be easily accessible for their customers, and what are their specific geographic, facility, and financial requirements.
   
Start the Process Earlier Than You Think You Should
 
If your lease is ending in the next 9 (nine) months, it’s very important to engage a Tenant Rep now. It takes time to understand your company’s ideal real estate solution, and the space that you’re looking for may be like finding a needle in a haystack-it takes time. When we’ve located several possibilities-ideally, we want to have the landlords competing for your business-if time is on your side, you’ve got leverage. The more time you have, the more leverage and negotiating power.
   
Read the Lease (including all exhibits and regulations)
 
Once you have worked with your Tenant Rep to hammer out the most advantageous letter of intent, the next step is drafting a lease. Lease Agreements are written by the landlord’s attorney (translation: the lease is written FOR the landlord, not the tenant). Be mindful of provision in a lease that would pose problems for the daily operations of your business. Always ask your Tenant Rep to review the lease for business points that adhere to your Company's needs and find an efficient attorney who can ensure the lease is enforceable.
   
Beware Less Than Market Rent
 
Many times a low asking rental rate is simply the base rate. Then, there are additional operating cost pass-throughs which add to the base rent as additional rent. Ask for a cap on increases and understand what calculation method is normal in your market.
   
Abate Rent if Damages Prevent Business Operations
 
You should not have to pay rent during the time you cannot use your space. If a fire on another floor prevented your employees from reaching your office or the ceiling collapsed due to a leak, this will make operating your business difficult. You shouldn't pay rent during those times.
   
Never Depend on Verbal Commitments
 
I met with a tenant who told me his landlord's property manager had promised they would install new signs within a retail center. It was never done. Never rely on verbal commitments-if you expect something to be done, it must be in writing.
   
Understand the CAM Charges
 
It is always better to understand the Common Area Maintenance Charges, taxes levied on top of it and any upfront deposit, if required to be paid by the Tenant.
   
Know what services you’re paying for and what is paid for by the landlord.
 
Your lease should describe in detail the condition of the space you are leasing and all services for which the landlord is responsible for eg: Property Tax, Building Insurance etc. which is subject to the negotiation between the Landlord and the Tenant. Be sure the lease describes the list of services included in the rent such as utilities, electric power, power backup, restrooms and maintenance thereof, and any others you might expect the landlord to provide.
   
Know the Difference between Usable sq.ft. and Rentable sq.ft. (Chargeable / Super Area)
 
As a Tenant, you must be aware of what is the Chargeable Area and what is the usable area and in what proportion in terms of percentage it is.
   
Know the Connectivity and Transportation
 
It is very important to have an idea about the local transportation available and till what time, good surrounding to ensure the safety of staff in your office.
   
 
 
Realty Tips  |  Lets Join  |  List Your Property  |  Measurement Units  |  Why Us  |  Infinity Advantage  |  Service Charges  |  Master Plan  |  Sitemap  |  Disclaimer
Copyright 2011, Infinity Real Estate. All rights reserved.   Powered by H K Digital Online.