#tenant representation

Maximizing The Tenant Improvement Allowance

An important component of a lease negotiation is the Tenant Improvement (TI) Allowance offered by a landlord to build out new space or retrofit existing space. The TI Allowance is based on a number of factors: the condition of the premises, length of term, net rental rate, and the financial covenant of the tenant. For existing office space – one that has walls, doors, etc. because of a prior tenant,...

IT’S IMPOSSIBLE TO BE OBJECTIVE WHEN YOU REPRESENT BOTH SIDES AT THE BARGAINING TABLE

Landlords are experts in managing and leasing their properties. When you, as a tenant, sit down with a landlord to negotiate, you can be certain that they have come to the table armed with information from both in-house and outside real estate professionals. The real estate professionals that work for the building owners and landlords must be licensed and are bound by rules, regulations, and ethics...

WHEN IT’S TIME TO RENEW YOUR LEASE – HOW MUCH TIME IS ENOUGH TIME?

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 landlords dream – they have a “captive tenant” that does not have enough time to move. Tenants in this situation have very little leverage when negotiating the lease and frequently...

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