Having Representation That Understands
many aspects go into the negotiation of a commercial lease. Therefore, it is important to have a commercial real estate broker in Atlanta on your side. Make sure that each individual knows what is happening throughout the entire negotiating process. The Office Advisors is this firm. Have you ever tried to lease or purchase a commercial real estate asset before? Well if you haven’t let me tell you it is typically a longer Journey than expected. Most individuals know that these things take time. However, what they do not count on is the financial intrusions that may happen during it. Setting yourself up for success is smart. Most owners have representation so shouldn’t you? Knowing makes good business sense. Check out our website to learn more today. www.theofficeadvisors.com
Moreover, before you go into a lease or any type of negotiation is understood that there will be some points that not everybody agrees on. That is why having an individual on your side or a team of individuals can set you up for exit tax. That every person goes out negotiations the same. You might have done many negotiations in your life. However, if you never worked on a lease before things can be different. Many terms are not common even though some are self-explanatory.
At The Office Advisors, each one of our commercial real estate brokers in Atlanta is well-versed in negotiating. Therefore, and makes only common sense to hire us. We will go to bat for you as well as explain the points along the way. Our team will never probably get you to lease or buy when working with us. Each broker will make sure you’re trying to get the best deal possible for your needs. Don’t go at your commercial real estate process alone. Work with the professionals. there are many firms to represent you out there. Especially commercial real estate brokerages in Atlanta. However none like us. Check out The Office Advisors’ Google reviews to just see what people are saying about us.
The letter of intent terms continued
We will briefly discuss the importance of each talking point on a letter of intent to lease. These can be part of a purchase and sale in some sense as well. However, when discussing rent as well as CAM is most likely just involved in a lease.
Types of rent money are due
when you go she ate eating a letter of intent on the lease and generally outlines the rental terms. This will be all monies due to the landlord upon receiving the property. how many people think that what they see posted or just their one-time square footage rate is what they pay monthly. However, that is very rarely the case. For many commercial real estate brokers in Atlanta now there are very few flat rates. Therefore, it is important to understand exactly what is due and how much you going to be coming out of pocket.
Base rent
Now, base rent is your very minimal amount that is due. This is generally expressed in a per square foot amount. The dollar per square foot amount is generally expressed in a yearly basis. Meaning when calculating You will divide the total by 12 to get the monthly amount.
Additional rent
I’m trying to rent a property for your business you will have something called additional rent. This can be your pass-through costs or operating expenses. As well as things such as a Community Association Management fee. Many people refer to this just as CAM or CTI. this dollar amount is spread out across all the tenants in the mix. Think of it as a homeowners association fee. It is for the upkeep and maintenance of the building as well as beautification and other ancillary services. a good commercial real estate broker in Atlanta will inform you about these ahead of time.
Other additional rents might be what you owe in taxes, utilities, and insurance. Many times these can be lumped into additional rent on the lease and they’re also expressed in a per square foot amount. This course is a dollar amount based on an annual basis. Having a good commercial real estate broker on your side prevents any of these surprises.
Prepaid rent
Sticking with a rental theme on the letter of intent sometimes the prepaid rent or deposit is Express. An example of something like this can be expressed in many different ways. A first of month last rent or a percentage amount is typically asked for. an example that we recently had is as follows.”First month fixed minimum rent, payable concurrently with tenant execution of the finalists, to be applied to the first installment of fixed minimum rent.”
Security deposit
Moreover, the prepaid rent is an addition to the security deposit. Many times upon at least execution that tenant shall deposit an amount that is equal to one month’s rent plus their Community Association Management fee, taxes as well as insurance. The landlord will hold this as a security deposit on the space.
Condition of premises
Now, generally speaking of the landlord will deliver the premises in an as-is condition. However, the landlord will most likely provide a clean HVAC report. Showing that is in good working condition and there are no issues.
Other points
now there can be many other points and some of them are so small and insignificant such as signage. Signage’s something most people want and the landlord will allow. However, generally the commercial real estate broker in Atlanta has no ground to stand on when negotiating this. The signs must be kept with the mix of the location. As well as be approved by the landlord before installation. Brokers are generally outlined on who they were representing as well. So you must have a good commercial real estate broker in Atlanta that supports you to get the job done.
Contact us
we try to make it as simple as possible for you to start working with a commercial real estate broker in Atlanta. Many companies and investors trust The Office Advisors. Let me try to make it as simple as possible for you to reach us. Therefore, all you have to do is visit our website and fill out a form. On that form let us know what you were trying to accomplish in one of our agents will reach out to you in a timely manner.
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