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It's Not 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, Atlanta, Lease, Landlord

Ariela Paschal

on 12 November 2012

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

Landlord Profit Centers Take a closer look Escalations But it's not just the rent... Negotiating leases isn't just about rent per square foot. ...It's the occupancy cost Cost savings analysis uncovers the many
ways a landlord can profit from your lease. These key areas need to be scrutinized and
carefully negotiated to maximize savings for the tenant. There are lots of potentially costly clauses in a standard lease.
Know why? Hint: Leases are written by Landlords Tenant improvement allowance Keep Clicking to Find the Landlord Profit Centers Tenant Improvements You should receive 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 Tip Base Rent Area
Measurement Expansion Tenant Improvements Sublease Base Building Specs Restoration Audit http://www.cresa.com/atlanta/ (click here)
Full transcript