Before You Begin the Process … Ask Yourself

 

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Set Up Preferences to Landscape
Is it more profitable for me to spend my time working in my profession or learning the real estate market?
Do I have the extra time and resources needed to effectively find the right office space?
How will I know if I have neglected to consider one of the fundamental steps in the process of finding a new office or renewing our existing space?
How will I know if the property I am considering is fairly priced and if I can obtain additional incentives (such as free rent), given current market conditions? If incentives are available, how will I know that I am negotiating the best deal for my company?
Were terms of recent leases in this building similar to the ones the landlord is giving me?
Will this building allow for my office to expand or contract in the event of future changes to my company? What protections will I have in that situation?
Does the building feature sufficient parking, HVAC, speed for internet access, and the right environment I would like to portray to my clients?
Are these property managers and landlords individuals that are accommodating or will it be difficult to get things accomplished after my lease is signed?
Are the provisions in the lease even-handed or heavily in favor of the landlord? (Note: generally attorneys negotiate the legal terms of the lease, not the best business terms based on the changing needs of the industry) How will I know what terms can be negotiated based on the landlord's prior accommodations?
Considering the lease will be the governing source to settle future disputes, will my company's position in the lease be strong or weak?
Are there any tenants in the building or are any tenants negotiating leases that are in competition with my company or that will otherwise negatively impact my company's presence?
Is the building currently for sale? If so, what kind of entity is scheduled to purchase it? An independent investor with experience? An institution? How will that impact my company?
What are our company's rights or responsibilities in the event of a fire or other natural disaster? What are the landlord's responsibilities?
What is our recourse if the landlord lapses in providing vital building services such as air conditioning, water, or functioning elevators?
How can I learn whether the landlord is being honest about their "plans" to renovate the common areas of the building?
How will I protect my company to get fair terms for renewal upon expiration of my lease if the market conditions are more favorable to the landlord at the time of renewal?
Once the lease is signed and all the products and services are ordered, how can I be sure the space that the landlord is supposed to be building out for us will be ready as scheduled? What happens if it is not ready? What recourse will our company have?

Isn't the landlord's agent representing the best interest of the landlord? If that is the case, where does that leave me?

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