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It's Not Just the Rent...it's the Occupancy Costs

A 2 minute look at the hidden tenant costs in your lease. Topics: Cresapartners, Tenant representation, Office Space, Long Island, Lease, Landlord
by

Ralph Benzakein

on 24 May 2012

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Transcript of It's Not Just the Rent...it's the Occupancy Costs

Landlord Profit Centers
We'd Like to Talk to You About It.
http://cresapartners.com/longisland/
(Click the Link)
Take a closer look
Escalations
But it's not just the rent...
Negotiating leases isn't just about rent per square foot.
There are many other expenses buried in your lease.
There are many ways a landlord can profit from your lease.
These key areas need to be scrutinized and
carefully negotiated to ensure there are no costly surprises in store.
There are lots of potential pitfalls that can
end up costing a bundle.
Hint: Leases are written by Landlords
Tenant improvement allowance
Click below to find the Landlord profit centers
Tenant Improvements
You should recieve a T.I. allowance that is commensurate with the rental rate proposed
Landlord's Construction Profits
Landlord's charge a percentage of the T.I. allowance to supervise the tenant's construction
Your space is costly
Lease Flexibility (exit strategy)
Termination rights
Expansion/contraction rights
Subleasing provisions
Right-size the space
Upfront strategic planning provides a big opportunity for savings
Refurbishment allowance
If you do renew, you'll want to spruce up the place a bit
These are just a few of the many issues which, when not addressed, can cost tenants 20% - 30% more.
But don't expect the Landlord's
broker to be looking out for you.
Click "More" and change
to Full Screen
It's probably your second largest expense
(after salaries)
Right to Audit
An ongoing ability to ensure that you are being invoiced accurately
And why do standard commercial leases have so many built in traps in the first place?
will help you get below the
surface of your lease.
Landlord Profit Centers
We'd Like to Talk to You About It.
Take a closer look
But it's not just the rent...
Negotiating leases isn't just about rent per square foot.
There are many other expenses buried in your lease.
There are many ways a landlord can profit from your lease.
These key areas need to be scrutinized and
carefully negotiated to ensure there are no costly surprises in store.
There are lots of potential pitfalls that can
end up costing a bundle.
Hint: Leases are written by Landlords
Tenant improvement allowance
Click below to find the Landlord profit centers
Tenant Improvements
You should recieve a T.I. allowance that is commensurate with the rental rate proposed
Landlord's Construction Profits
Landlord's charge a percentage of the T.I. allowance to supervise the tenant's construction
Your space is costly
Lease Flexibility (exit strategy)
Termination rights
Expansion/contraction rights
Subleasing provisions
Right-size the space
Upfront strategic planning provides a big opportunity for savings
Refurbishment allowance
If you do renew, you'll want to spruce up the place a bit
These are just a few of the many issues which, when not addressed, can cost tenants 20% - 30% more.
But don't expect the Landlord's
broker to be looking out for you.
Click "More" and change
to Full Screen
It's probably your second largest expense
(after salaries)
Right to Audit
An ongoing ability to ensure that you are being invoiced accurately
And why do standard commercial leases have so many built in traps in the first place?
will help you get below the
surface of your lease.
Full transcript