Real estate costs ate one of the single biggest overhead items for most business enterprises. Yet many companies although sophisticated in their own businesses, chose to navigate the relocation or renewal of office space without knowledgeable representation. The results ate bloated expenses, aggravated costs and badly planned deals. These problem leases ate especially serious as competition puts pressure on companies to cut costs and improve productivity
Lawyers ate trained to check the legal aspects of a real estate lease, but the trickiest clauses tend to involve business issues with which lawyers typically have little practical experience. For instance, these can include: cost implications of different building systems, practical implications of escalation formulas, design firm and contractor bidding practices and methods of pricing landlord services. Some business issues, which affect your company's costs, become evident only after inspecting the building site, which lawyers rarely do.
Many corporate executives imagine they have protected their company by focusing on a few key lease terms like rent and tenant improvement. But identifying the full cost of a proposed lease requires analysis of complex, often conflicting and seemingly unrelated terms -analysis by which Hartmann-Ryan-Abemethy ensures that your company negotiates from the strongest possible position. When a business retains us as their exclusive agent, we start by helping them translate their business requirements into real estate terms. We next conduct a comprehensive market survey using our computerized databases, current market data and other information to identify all available locations which suit your physical, financial, operational and geographic criteria. Additionally, our market knowledge enables us to go beyond current availabilities to create solutions for you. Our report to you details physical characteristics of the site, good and bad, relative financial attractiveness compared to other offerings, and other information pertinent to the decision-making process. Our market surveys are a diagnostic tool, not a sales pitch for any particular site. We help your business select the site most suitable for your business needs, whether it's in a different city, different state, or two blocks from your current location. Once a site has been selected, we aggressively negotiate each term of the lease. We negotiate fixed costs, expenses, escalations, services, expansions and financing options, all from your company's (the tenant's) point-of-view. We can help your business select a design firm and building contractor, then structure agreements with these vendors to minimize your company's costs. Hartmann-Ryan-Abemethy's commitment to you is not a quick transaction. We follow up after your lease has been signed with on-site inspections to make sure your company receives the specifications in your build-out that you bargained for.
As your tenant broker we can also benefit you with a lease renewal for your company. Many tenants are inclined to use their existing lease as the basis for a renewal. But market conditions might have changed significantly since your lease was negotiated. What's possible or desirable in terms of liability, business flexibility and other aspects of your lease structure may be very different than when you were last in the market. We understand the dynamics of the marketplace because we are constantly dealing with these matters. We look at these renewal issues from your point-of-view and show you the steps to take towards a more advantageous lease. Therefore it makes sense to retain a knowledgeable advisor who will represent you, the tenant, exclusivelyDownload Tenant Representation Process Timeline