Tenant Representation - what is it, and why do you need it? Why is Tenant Representation so important? Landlords are experts in managing and leasing their properties. When you, as a tenant, sit down with a landlord to negotiate, you can be sure that they have come to the table armed with information from in-house and outside real estate professionals. The landlord's broker has significant fiduciary...
How much lead time do you need when renewing your office lease? Too often, tenants comfortably ensconced in their office space simply forget about their lease until they get a call from the landlord and receive an offer to renew a few months before their lease expiry date. This is a landlord's dream—they have a “captive tenant” who does not have enough time to move. Tenants in this situation have...
Having an Option To Renew clause written into your office lease is always advisable. This gives you, the tenant, the right to renew your lease at the end of your existing term. But there are both benefits and pitfalls that you have to be aware of when exercising this right. This clause can be particularly valuable in low-vacancy markets. Too often, we have seen landlords refuse to negotiate with a...
In every offer to lease there should be a clause stating that the offer is conditional upon the review, negotiation, and approval of the landlord’s standard form of lease document. There is a reason for this. An offer to lease covers the basic terms of your agreement with a landlord and these terms will be incorporated into the lease document. However, a commercial lease can be more than a hundred...