Saturday, April 30, 2011

Just 3 Weeks


Within 3 weeks of signing an agreement to sublease a space for a client, I not only found a financially sound tenant to sublease the space but a lease cancellation was negotiated with the ownership of the property to release my client from all liabilities on the lease.

Tuesday, April 19, 2011

Commercial Office Leasing Tip

Sometimes tenants are concerned with outgrowing their space before the lease expires. Usually the solution is to sublet or assign the lease. However, you may want to try to negotiate the right to terminate your lease early. There are costs associated with the right to terminate early. If the owner provided you substantial amounts of improvements, you should expect to repay the unamortized portion of that fee and any other costs of leasing. While early termination penalties can be expensive, for some tenants this is preferable to the potential liabilities of being a sublessor.

Leasing Tip

Sometimes tenants are concerned with outgrowing their space before the lease expires. Usually the solution is to sublet or assign the lease. However, you may want to try to negotiate the right to terminate your lease early. There are costs associated with the right to terminate early. If the owner provided you substantial amounts of improvements, you should expect to repay the unamortized portion of that fee and any other costs of leasing. While early termination penalties can be expensive, for some tenants this is preferable to the potential liabilities of being a sublessor.

Tuesday, April 5, 2011

Commercial Office Leasing Tip:

When the landlord says "It's our STANDARD lease, everyone signs it!"; Don't sign it!!! "Standard" does not mean it is right or fair to the tenant. Have a qualified real estate attorney that specializes in tenant leases review the "Standard" lease so you know how it can effect your business