10 Important Things to ask about your current lease situation

In Bradford Buzz by Bradford

1. Do you want to sit in your office for the next 3-5 years wondering if you really got the best facility at the best possible price in the location you wanted to be?

2. Do you want to work with a company to whom you are only the next deal and not a long term relationship; who does not want to be your long term real estate partner?

3. Do you want 5-10 different brokers sending you partial information on properties they think are right for your company versus one point of contact who knows truly knows your needs and sends you detailed accurate information on pertinent real estate?

4. Do you enjoy or think it is a good use of your valuable time to drive every street in the market calling off signs, trying to get brokers/Landlords to call you back; then spending more time negotiating a lease document?

5. Do you have a professional review/audit your year end reconciliations (Taxes, Insurance and CAM statements) each year to make sure they are accurate and in keeping with market?

6. Do you have a proprietary database of every available property in the DFW Metroplex (officially on the market or not)? Additionally, do you have a database of virtually every transaction done in your area?

7. Did you or your broker request a HVAC report from your Landlord before you signed the lease. Furthermore did your broker have it reviewed by a professional to make sure you were protected?

8. Does your current lease provide for the fact that if your copper is stolen from your rooftop HVAC unit you do not have to pay to replace it?

9. Does your current lease document contain a Renewal Option so that your Landlord can not have the ultimate decision whether you stay or leave at the end of your term?

10. Does your current lease document contain a Right of First Refusal on Adjacent Space which would allow your company to be flexible in its expansion needs?