When you lease your property, you have a contract with (1) dates and dollars, (2) rights and responsibilities, (3) roofs and HVAC units, and (4) relocation expenses. It is imperative that you analyze these annually to maximize your companies profit potential and flexibility, while protecting your downside and unanticipated out of pocket expenses. Clients have me review their leases, amendments, and addendums, annually to make sure they are positioning themselves to be in the driver’s seat. Get your’s today.
The top items contemplated in every lease review are:
- Lease commencement and expiration dates
- Rental rate and annual increases
- Operating expenses
- Roof condition, replacement date, anticipated future replacement date, responsibilities
- HVAC condition, replacement date, anticipated future replacement date, responsibilities
- Dock equipment (if industrial) condition, replacement date, anticipated future replacement date, responsibilities
- Deferred maintenance
- Lease option language
- Fair market value assessment
- Tenant improvements need, scope, cost and timing
- Relocation expenses
- Overlapping of operations during relocation, phased move in
These are the tip of the iceberg when contemplating any lease and thinking through your next moves.
Ready for a lease review to help you find solid footing before acting on your next negotiation. Contact us today.