Tricky Lease Clauses.....

       Don't Give Yourself A Stroke Over Your Office Lease

A leasing transaction can be a stress inducing ordeal if you do not have good tenant broker, correct information and an understanding of the transaction process. Having these things by your side can help ensure you will emerge with your dream office space without having a stroke or feeling the need to commit murder!.  

One little clause ......

Hidden in the fine print is an overlooked phrase which states why the original possession date can be delayed for  weeks. "Pending landlords build-out completion". Possession date will be given "Upon substantial completion of landlords work"  Don't give your self a stroke, always have a great commercial real estate attorney review your lease and below are some additional guidelines that might help. 

Stress relieving suggestions:

1. Have your landlord give you the "letter of completion" two weeks before the work is scheduled to be completed instead of simply a few days before.

2.  Make sure that every couple of days you or someone from your team visits the site to check on landlords work progress. Not in an intrusive way, but simply let folks know that you appreciate what they are doing to help you and be willing to cooperate to the extent which this is possible.

3. Don’t order your moving truck until you receive the ‘Letter of completion' from landlord.  

4. Be flexible.  Relax.  Let the professionals go through their paces.  A good tenant broker will remain next to you until you've fully moved into your new space. 

5. Have a contingency plan with regards to your current office situation.  If you are renting, you may be able work with your landlord to do a ‘Month to Month’ lease after your lease end. Do this in order to avoid becoming a 'holdover tenant'.