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Austin retail space rental and lease data can help retail space owners to increase revenue, vendors to increase sales and provide a variety of industry personnel with data and reports to facilitate decision-making and communication.
Researching Houston Retail lease information is simple and affordable with RetailLink. RetailLink provides data on thousands of office properties 10,000 sf and higher and is updated on a monthly basis. The free access allows users to search by dozens of fields.
If you select a tenant rep broker to help find your office space, find an expert. Do not hire the person who helped you purchase your house. Office space tenant rep brokers are full-time experts. It is a very specialized area.
Most apartment residents do not read the lease. However, they get very upset when the landlord points out details contained within the lease. The lease is a legal document. You should read it.
The landlord is usually willing to fund tenant improvement expenditures provided he is confident the tenant has the financial capacity to pay rent for the term of the lease.
The next step is to visit the office space in buildings that appear to be a good fit. Reflect upon the criteria you initially establish and any issues that may have since surfaced. Take detailed notes while visiting each of the buildings.
Define the building quality, price per square foot and total monthly budget for office space. The office space broker will advise you if your expectations are on realistic.
Lease abstraction is an essential component of due diligence for a multi-tenant commercial property. Lease terms often vary from tenant to tenant. Lease terms and options impact both the quantity and quality of rental income.
The amortized cost of your tenant improvements will be the cost over the term of your lease. To keep matters simple, if you are spending $60,000 to renovate your space, and your lease term is five years (60 months), include $1000 per month for the cost of tenant improvements. The actual cost will be higher to reflect the time value of money.
Office space location issues can include proximity to existing and potential employees, clients, vendors, and various third parties. For companies with less than 100 employees, the primary criteria for selecting a location is typically proximity to the chief executive officer’s residence.
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