Commercial real estate broker Atlanta

 Understanding the negotiating  aspects of a letter of intent

 Having a commercial real estate broker in Atlanta on your side can be imperative to your success. Especially if you were negotiating on LOI or as it’s called a letter of intent.  The letter of intent is where you lay out the terms of a deal before going to the contract phase. Having someone who’s versed in this industry can save you headaches as well as money. Therefore, many businesses and investors have trusted The Office Advisors. Our team of licensed professionals understands the market as well as the points of a deal in order to get done to your advantage. In order to begin your journey or if you have any questions check out our website today. www.theofficeadvisors.com

 

 Moreover, when negotiating on a space whether it’s for purchase or lease, you must know what you were trying to obtain. When working with The Office Advisors we will go over your goals and needs. This initial assessment is always free. so there’s nothing to lose if you are just trying to figure out what you need to accomplish. Mini new business owners think signing a lease is very simple. They just get the landlord’s approval and get a lease. However, that is not the case.

Laying out What the Conditions Are

Therefore, when presenting an offer you must read carefully. Make sure that most aspects of the lease or purchase contract will be outlined upfront. This guarantees less amount of confusion and paperwork in the future. Furthermore, a good commercial real estate broker will give room for negotiations on your behalf. This allows both sides to feel like they’ve gained or given something. Negotiations are an aspect of business that is just a fact of life. Some people shy away because they feel like it is confrontational. 

 However, The Office Advisors understands the market and is friendly with almost every Brokerage in the area. We are well known for our he’s of work as well as communication. Being responsive as well as eloquently outlining the terms of the deal makes us stand out. Therefore, Mini deals are done quickly and efficiently. Being able to bring both sides of the deal to an agreement is a sign of a good commercial real estate broker in Atlanta. As well as having the ability to explain the terms to their client. Many Brokers or agents forget that most professionals do not deal with real estate on a day-in-day-out basis. Here at The Office Advisors, we will make sure you understand the terms of your deal before signing the paperwork. 

 

Terms used in a basic letter of intent

As previously stated a good commercial real estate broker is going to be able to explain and he wants his letter of intent in the Atlanta area. Not all offers or yellow eyes are the same. Many landlords have different points. However, the general points are always laid out in this form. So some of the terms and repercussions of them are laid out here.

 

 Premises

 now, the premises is pretty self-explanatory. This is the location of the business or physical space. If you’re dealing with retail, industrial, or office there are a few options. As I’m sure you’re aware many of the shopping centers where office Parts have a name. Might be Market Square or Atlanta office  Park. generally on the premises, it will show the square footage as well. Many times a site plan will be attached and on the premises and will have the denoted which space it is in order to have a clear picture.

 

Tenet name or trade name

 typically speaking this can be very straightforward. However, that is not always the case. When you’re dealing with a business that might be found in one state but operating as a different entity in the current one. One of our commercial real estate brokers in Atlanta has dealt with this multiple times. Think of a business that might have a state’s name in it. Such as Florida or Autism centers. That would be the trade name.

Now, if they are operating in the state of Georgia it doesn’t make much sense to have the word Florida in front of it. So what they will do is called a DBA or doing business as. They might have their name for their Georgia location as Georgia autism centers. This is laid out on a letter of intent to make sure there is no confusion when signs are hung or marketing materials are done.

 

 Guarantor name

 A major point of a lease is a guarantor. This is the individual who signs the lease and guarantees the fact that the space will be taken in the rent be paid. In the event of a default, the landlord will look to this individual to pay the remainder. This can be a large task for a startup business as taking an expensive lease. Is important to have a commercial real estate broker in Atlanta that understands how to explain in lay out the risk for you. That is why men have trusted the office advisors.

 

 Permitted use

 Going forward another item is written out in the letter of intent as well as the lease. That is what will be allowed to be operational there. There have been instances, especially in any retail setting where someone says they are just selling clothes and then start selling food as well. The landlord does not want inter fighting or competition amongst their tenant mix. Therefore it is important to make sure your business plan is laid out and how you were going to make money.

Which seems like a simple and non-combative thing. However, that is not always the case. Recently we were going through the letter of intent and our tenant informed us of an ancillary use of serving food. This is words had to be approved but were quickly done by the landlord because they saw the need for it in the business.

 

 Operating and doing business in a location that is not permitted by the landlord is considered in default. This means they can kick you out of the space but you are still responsible for the amount of rent owed. No one wants to be in the situation so it’s important to make sure that your business plan is outlined as well as the permitted use is approved.

 

Lease term

 now, this is all so very explanatory and itself. Make sure the amount of least you were signing for is understood. Did the term can be in months or expressed in years. Generally speaking, landlords are warning over 3 years in a term. Some of the deals I’m working on now or in excess of 7 years. Having a good commercial real estate broker on your side will make sure that you’re not getting in over your head to the best of your ability.

 

 Commencement date

 many people asked when do I actually start paying the rate? This is also something that is negotiated throughout the letter of intent. Many times a tenant will have a few months time to build out the space in order to get it ready to open business. The landlord is not always expected payment during this time. So commencement date can be negotiated in order to make sure the client will be open and making money before paying anything to the landlord.

 

 Contact us

 you’re the officer visors we make it simple for you to reach the best commercial real estate broker in Atlanta for your Deeds. All you have to do is visit our website. Or you can pick up the old-fashioned telephone and give us a call. One of our agents and Brokers is standing by in order to assist you and your real estate needs.

 

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