There may be a temptation to go about leasing office space your self, mono e mono with owners, agents, property managers and developers. But remember this approach is about leverage; created from information; prepared by objectivity to deliver opportunity. Going it alone is done frequently and more often by strong-willed managers. And for those that wish to do so, use the tactics in this website to improve your position along the way. But you can still maintain control when you have a team you control working as your foot soldiers. Mr. Big Ego attorney, negotiator extraordinaire rolled back on his heels in pride as he explained how he made the landlord squirm and got a great deal; explained how every lease clause was modified. He had done a good job in the rent, but had to pay quite a bit in extra tenant finish costs; had accepted a ridiculously low operating expense stop and failed to negotiate a renewal and expansion option. Further, he had "penciled out" the floor plans with no architect or space planner. He must have spent over 80 solid hours monkeying with this and at his $250 per hour rate, cost himself tens of thousands of dollars which would have been better spent working with money making clients.
LIEUTENANTS
Your team should include a few key lieutenants in your firm which can speak for you in your absence and that are deeply familiar with the inner workings of the office and your future plans. Appoint a team leader other than you (you're the team owner). This person ideally should be the real estate professional. because all elements will need to be coordinated through a single, well rounded, experienced source. Establish an agreement or at least an understanding how meetings will be held, who will chair them and who has responsibilities for which specific element. Again, since you're the team owner, allow your team leader to set agendas, schedules and chair meetings. This allows you to maintain the Chairman of the Board perspective, ask critical questions and offer critical review. The idea behind your team is information flowing in both directions. Remember to delegate and back it up with the authority for them to do their jobs. And if you think any of your team may not wholly comprehend the concepts of this information and their role in your leverage, send them this website and tell them to read it. Create a schedule that is agreeable to all of you to ensure the timely discharge of each function. A schedule can be created using a "critical path" which can be created by your architect. This schedule can also be shown to any member of your team, vendors, building and owners to allow every one to buy in and be added to the schedule. When time slips, you will see it, be able to hold those accountable, with or without approved excuses, and catch a future problem developing early enough to act accordingly.
The team of intelligent counsel will be your best weapon at every turn. The best composition should include a top shelf negotiator/real estate professional.
An attorney is a must. You will be facing a 40 page monster lease with hair all over it and it will absolutely need to be negotiated to be much more favorable to you. Ordinarily, this cost will be on your nickel without any landlord reimbursement. Interview a few hot real estate attorneys with office lease document experience and hire the one with the poker face who cares about tenants.They say attorneys are deal killers.For tenants, they aren’t.Every dime you pay the attorney to convert the aggressive landlord oriented lease to the tenant’s favor will pay you many times over in the future.
