CRE Mistake Series: Staying past the lease expiration date Every written lease should have a start and end date. Sometimes a locations improvement isn’t completed in time, so the start date will shift. Usually a commencement letter is signed acknowledging the new start date. Most leases have a holdover fee clause. ...
October 29, 2018Lynn Drake
CRE Math Series: Expect Exaggeration A landlord representative's, also known as listing agent's, job is to sell you the space. They often exaggerate and tell the tenant the landlord will do anything to get them as a tenant. Often these are verbal discussions and none of it makes it into the ...
October 17, 2018Lynn Drake
You know that holiday song? It’s a tune every tenant should be singing – twice a year. That’s right—Every tenant should check their lease expiration date twice, and make sure to start their search at least a year in advance. Wondering why? Isn't a year a bit over the top? If you’re ...
December 20, 2017Lynn Drake
While the owner of a startup company may be reluctant to take on a long-term lease, it might pay to think about what that actually means in practical terms. Here are two things to consider right from the start: It could take three to six months, at least, to find ...
December 5, 2017Lynn Drake
It really nags at me that there are firms out there who claim they’re representing your best interests when, in reality, they’re doing the opposite. Many are simply project managers and construction companies in disguise—not truly tenant representatives. Confused? Here’s How This Works: You’re looking for space, and you find a supposedly “good” tenant ...
September 12, 2017Lynn Drake
Most landlords in the game today know their business inside and out. The stay on top of what their competitors are asking and what the market will bear. They know what deals are being done down the street—especially when they lose a deal to a particular landlord. Here’s the thing: landlords ...
August 18, 2017Lynn Drake
We talk a lot about the importance of an RFP (Request for Proposal), and written about the top mistakes that tenants make. One mistake we see frequently is that tenants don’t check the RFP against the final lease. A good agent will do this for you automatically. Many agents will affectionately tell ...
August 8, 2017Lynn Drake
What is the difference between a Leasing Agent and a Tenant Representative? You will usually find the Leasing Agent’s name on the “for lease” sign in front of a building. The Leasing Agent represents the Landlord, and is sometimes called the Property Manager. The Tenant Representative Agent may be harder to find, ...
May 16, 2017Lynn Drake
Has Your Company Found Itself with Extra Space?Do you remember the childhood nursery rhyme, “The Old Woman in the Shoe?” She had so many children, and so little space, she didn’t know what to do. But eventually, her kids left the nest and she was left with all kinds ...
March 20, 2017Lynn Drake
Easily Avoidable Mistakes that are too CommonWe love our tenants, but we see them make a great deal of unavoidable mistakes. The number one mistake we see tenants make? They don’t start the negotiations until it’s too late. We often find that tenants aren’t even aware that negotiation is a ...
March 10, 2017Lynn Drake