Streamlining the Commercial Leasing Process
Now more than ever, it is imperative to effectively manage leasing transactions by making the entire process more efficient, from start to finish. In this Solutions Series program, you will find out how to streamline each step, beginning with the LOI, and reduce the amount of time and money spent on the actual negotiations of your leases.
Here are a few tips on how to accomplish this goal:
- Negotiate up front as much of the deal as possible, before beginning preparation of the actual lease itself including the form the lease to use.
- Clearly define default terms and remedies, any co-tenancy and exclusives, as well as the pass thru operating expenses and exclusions during the LOI process.
- Reduce the number of "redlined" drafts that are exchanged between the parties.
- Attach to the lease a Subordination, Non-Disturbance and Attornment Agreement (SNDA) that your lender has approved.
- Establish up front a realistic commencement date that both parties can live with.
- Prepare yourself for the questions that a sophisticated tenant will ask.
Presented by: Timothy Miedona, partner, Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
Add a Comment
We welcome your thoughtful comments. Please comply with our Community rules. All comments will display your real name.