What are the next steps after the Tenant Representative and their client has completed their search for new commercial premises?
During this phase of the property acquisition lifecycle, some of the factors that the client will need to consider include understanding what’s involved in making a final decision on preferred options and secondary options, negotiating on preferred and secondary options, and deciding on final option - incentives and contributions.
It can take close to 26 weeks to get to the position of negotiating Heads of Agreement for a substantive property. The Tenant Representative will undertake the negotiations on the preferred option and secondary options, but the decision-maker and their legal counsel should be ready to commit effort to achieve commercial terms, lease flexibility and other lease obligations directly after negotiations.
In this course, you will gain an understanding of shortlisting options and getting ready for the negotiation phase.
Approximately 20 Minutes
Students will gain a further understanding of factors to consider when looking to buy a commercial property for business operations.
Acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.
Undoubtedly the ‘one-stop shop’ has become a trend that has evolved over the past decade. The ‘one-stop shop’ offer, combining the lease negotiation, workspace design, fit out project management, relocation and even completing the make-good in the exited leased premises offers a compelling proposition to many leadership teams, particularly those unfamiliar with the expertise and challenges of the leasing, fit out and make-good businesses.
The relationship between the Tenant Representative and the client organization will develop over the period from start of lease negotiations through to occupation, so keep the relationship even stronger by offering the additional services of their organization.
Working on the fact that retaining an existing client is more attractive than finding another, develop rapport and a genuine interest in how they are doing, and offer help regularly. ‘One-stop shop’ arrangements, can provide transparency in all cost arrangements, and provide ‘value for money’ outcomes with the added value of a pool of experts who know how to find the other specialist advisers, suppliers, and contractors that the client needs.
In this course, you will gain an understanding of the phases and key milestones of your client’s journey, and how and when you could have conversations about the pool of core capabilities in your organization that can help the client complete their project.
Approximately 20 Minutes
Students will gain an understanding of viability, cost analysis and comparison and why this is such an important part of the property procurement process.
What ever your role in commercial real estate, either as a practitioner such as those in tenant advisory, or whether you are on the client-side, such as the internal property manager, you need to understand Leasing basics.
A Lease is a contract by which one party conveys property to another for a specified time, usually in return for a periodic payment. It outlines the terms under which one party agrees to rent property owned by another party, and calls for the lessee (tenant) to pay the lessor (landlord) for use of a property.
Leases can be defined by the different types of properties or assets they relate to, such as commercial (retail or office spaces), residential (houses, apartments), industrial (warehouse, manufacturing plant), land (agricultural), advertising spaces (marketing), and vehicles or other equipment (cars, tractors, farm machinery).
In this course, you will gain an understanding of commercial leases and rental structures. You will learn the lease basics and rental structures that every Lessor and Lessee (landlord and tenant) will discuss at some stage during their negotiations, or perhaps some of these new concepts will be drawn up into the Commercial Lease Agreement you are about to sign.
Approximately 20 Minutes
Students will gain an understanding of factors to consider when choosing whether to lease or buy a commercial property for business operations.