Common Office Lease Questions Explained

Below is a list of the frequently asked questions by tenants about office leasing in our market. We strive to make sure all parties are informed before signing a lease. Commercial real estate, unlike residential, does not have uniform transaction customs. Each lease is somewhat unique to the owner, tenant and premises. As agents we try to apply customs and best practices to facilitate transactions and reduce conflicts.
Any term or cost. We are glad to provide you comparable signed leases (comps) and available rates of competitive properties so you can make an educated decision. Keep in mind lease economics include upfront costs, rents, operating costs, and any concessions if applicable. Most Landlords are looking for either a return or a net rent number so negotiating one variable will often affect other economic terms.

The rent we quote is called the Base Rent. When we present proposals or leases the Base Rent will be explained in a rent schedule or table showing how much per foot and/or per month the rent is going to be. The Base Bent and base rental increases are subject to market forces. In this market there are rental increases. As the market becomes more landlord oriented the base rental increase move from pennies per sqft increases (e.g. 5¢) to percentage increases (e.g.3%). See below a sample table of Base Rent.

Months Rent
1-12 $2.35 per sq. ft. per month
13-24 $2.40 per sq. ft. per month
25-36 $2.45 per sq. ft. per month
37-48 $2.50 per sq. ft. per month
49-60 $2.55 per sq. ft. per month
Concessions are free rent, delayed lease or rent commencement, and tenant improvements. These are also subject to market forces.

Leases at this property are full service gross and expenses are applied over a base year. A complete explanation of this type of lease and other leases is available (click here).

Yes. You will have access to the property 24/7. The building HVAC service is limited to building hours. If you need air service after hours the property manager can arrange at a cost if applicable.
We don’t advise it as the leasing fee is how we earn a living.
The landlord will hire the contractors and oversee the construction. The proposed work is agreed up front. If you want to do the construction yourself, you may take an allowance and hire your own contractor, subject to the Landlord’s approval and supervision. Most office leases we negotiate are “turn-key” which means the premises will be move in ready when the manager turns over the key.
Typically IT is a tenant expense since connection locations are specific to each tenant’s needs. You will hire your own IT/cabling contractor. Some leases require removal of these wires after you leave. Make sure you ask up front.
The landlord does. If you have an agent representing you we will pay the agent out of our listing fee. Leasing commissions are subject to market forces. Sometimes Landlords will offer a bonus or a larger fee to a tenant’s agent. You have a right to know how much the agents are receiving. Also, if you tour a property without an agent and later decide you want representation, you may have to pay for your representative.

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