Tenant & Buyers Representation Tenants Should Plan Ahead
Occupancy costs are a large expense for any business, and proper management of the real estate process is important to reduce costs. Planning ahead, choices and market knowledge are major ways to save money.
Some companies handle lease renewals when the landlord contacts them. That's too late by landlord design. You do not have enough time to actually exercise any options other than accepting the landlords increase. The time line to look at options is at least one year ahead of the notice deadline or longer for larger spaces. If you want to compare purchase options as well as leases, plan to start the process two years before d-day. The time for reviewing choices, touring space, analysis, negotiations, space planning, build-out estimates, permits, construction, financing, inspections and other matters can take more time then you might expect. Based on the size of the space and other considerations of your business, establish a time line up front to help keep the process on track.
To make the best choices, you also want the most options possible. Be sure you have uncovered all the possible spaces that could be available in your market including all available lease space, subleases, new construction, and ownership opportunities as well. After you have considered the best choices, whittle down to a short list and request written proposals from your short list. So you have the time. You have good choices. Now you want market knowledge and transaction experience on your side. Market knowledge is an important benefit to control occupancy costs. Research and analyze the current rental rates and trends in your city and market area. Do a side-by-side analysis of competing lease proposals using the best available lease analysis software to compare them graphically and monetarily. Even leases with varying rates, sizes, time frames and escalations should be broken down to a net present value for comparison.
To put all this together for you, engage a Rick Ferguson. Professional representation is important and very cost effective. The monetary savings, market knowledge, time considerations, vendor contacts, and transaction experience will be a tremendous benefit for you. Landlords expect and appreciate that successful businesses will have professional representation.
Your time is valuable. We will help you through the entire process, the time line, the choices, the market knowledge, the analysis, and the negotiations. You will have more control, have more options, and will be confident you are making the right moves.
To be sure not to miss important lease time frames, call us for a lease abstract of your lease or leases. We will review your lease(s) and notify you when important dates occur for renewal or other timelines. We will advise you of milestones and best practice timelines important to your company.
You will always have the time, the choices, and market knowledge on your side.
Rick Ferguson678-209-3100 mail to: rickfergusonCRE@gmail.com
Expertise:Rick specializes in Representation in the Central Perimeter, Brookhaven, Buckhead, Midtown and Downtown Atlanta Markets. - Extensive local market knowledge- Professional site selection-Expert financial analysis Recent Transactions:-Tenant representation for leasing office space (latest client Syracuse University)-Leasing representation for leasing office space (latest client Blue Wave Properties)-Purchaser representation for acquisition of office building (latest client Kennedy Associates)-Purchaser representation of in town land parcels (latest client Atlanta Demolition) Organizations: National Association of Realtors GeorgiaAssociation of Realtors Atlanta Commercial Board of RealtorsBuckhead ClubSiena Alumni OrganizationDunwoody Baptist ChurchCredentials & Associations: CCIM Candidate,Georgia Real Estate License Rick lives in Brookhaven with his wife and three children.
Atlanta, Georgia Based Commercial Real Estate Tenant Representation Leasing Representation Building Sales Building Buyer Rep. Office & Industrial