Students will gain an understanding of how to develop a property procurement strategy, along with some common challenges and best practices in this area.
Students will gain an understanding of what steps to take, what to consider when a commercial lease is coming to an end, and what alternatives may be available if the tenant wishes to end a lease early.
It is not unusual for either a tenant or a landlord to withdraw from negotiations when trying to finalize a lease or there will be times when both parties can’t agree. It is important to understand that each party in lease negotiations will be seeking to gain something different.
Disagreements on conditions, terms, duration and costs or other things during negotiation doesn't mean the participants are in a dispute or that the deal can’t be resolved to both parties’ satisfaction. Disagreements on what terms end up in the lease are a normal part of any commercial negotiation.
If lease terms cannot be agreed, it is always advisable for the client organization to make sure that they are compensated for their legal costs if the landlord withdraws from discussions. The client organization can do this by adding a clause to the Heads of Agreement confirming that the landlord will reimburse their legal costs, this is normally to an agreed and capped amount.
In this course, you will gain an understanding of what happens when all parties involved in a commercial property negotiation have finalized and agreed the terms for a proposed lease - the Heads of Agreement, and how the process works from the request for a HoA through to concluding the deal.
Approximately 20 Minutes
There is much to understand before the Client organization can endorse a market search to source the right property to meet their future needs to operate, perform and engage with their customers and their employees.
To achieve the company aspirations and ensure the Tenant Representative has the right brief that represents the Client organization and their future needs, a Needs Analysis should be conducted. A needs analysis can tell the Client organization how they work now and why they are doing it this way. This process is largely facilitated by the Client and can be supported by the Tenant Representative, working closely with internal stakeholders such as the Property Lead, senior management, perhaps specialist areas within the business such as the IT department, and can be expertly facilitated to get the best results by external consultants such as a Workplace Strategist or Designer.
A thorough and professional Needs Analysis will help the business to align the workplace dynamics of people (social), process (work) and place (environment) and leverage the ability of the workplace to contribute to business success.
In this course, you will gain an understanding of the approaches taken by the Tenant Representative and their Client in undertaking a Needs Analysis.
Approximately 20 Minutes
Students will gain an understanding of common techniques to achieve reduced floorspace and why a storage strategy is so important in the property procurement process.
The asset disposal as part of the exit obligations is just as important as the relocation and hand back of premises itself and is a link in the chain to achieve lease obligations.
To meet exit obligations the outgoing tenant needs to leave the landlords asset in the same condition to which they found it, i.e., when the lease started. There will be some wear and tear tolerated, and in the cases when the tenant negotiates to remove any fixtures to reinstate to the prelease conditions, they must also manage the disposal of their redundant or retired assets.
In this course, you will gain an understanding of the need to think outside the obvious when it comes to lease expiries and exit obligations.
Approximately 20 Minutes