Over the last 6 months, I’ve explained the most crucial steps in the lease process, and I hope you have found it helpful.  Please let me know if you have any questions or need my assistance this year. 

The first 4 steps are as follows:

1.  Look into your existing space layout and determine future needs

2.  Evaluate market conditions

3.  Analyze and compare alternatives

4.  Submit final offers and negotiate business terms

The last step in the Lease Tactics Blueprint is  5. “Execute the lease and move in!”

Once you make a decision on a location, the Landlord will ask for a Letter of Intent to outline the terms of the lease.  A Letter of Intent is non-binding, so this is ok to sign.  The Letter of Intent is used to prepare the Lease.   Most Leases are in favor of the Landlord, so I highly recommend companies hire a real estate attorney to review their lease.   Landlords also prefer that companies use an attorney that understands commercial real estate leases.  I’ve seen companies try to use in-house counsel that don’t negotiate leases and this can hold up the process and make negotiations more difficult, because they don’t understand what it takes to get a deal done.  A good real estate attorney knows the areas to pay special attention to and areas that are not as important.
 
After the Lease is signed, the Landlord will start working on the improvements needed to get you in the space.   The Landlord will either have a property manager or a construction manager handle the improvements.  You will want to schedule a meeting with the manager to discuss the expectations and to get a timeline for completion.  After this you can focus on the move. 

The following is a checklist for your move:

  • Create a moving task force – Choose key employees to take the burden off you!
  • Hold a meeting and tell your employees the good news
  • Hire a moving company and plan the move date
  • Meet with an interior designer – This should have already been initiated in the beginning, but now you will begin to make the final touches
  • Clean house – Now is the perfect opportunity to throw out old files and extra equipment not needed.
  • Meet with communication or PR staff – Start preparing a press release about the move, so you can get some free press!
  • Contact utility companies – Phone, internet, cable, water and electricity
  • Alert customers – Contact clients and vendors about your move and send them your new address
  • Order new stationary and business cards
  • Arrange for access to the space – You may need a key card system in your new space or have keys made for employees.  Also, you may need parking cards for employees this needs to be addressed
  • Conduct a final walk-through – Before move day, walk through the space with the new property manager to ensure everything is ready

After the move – Plan a party and celebrate!

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