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Leasing Office Space and Due Diligence
By admin | November 10, 2011
Online In most cases, the information from the services will adequately address the issue of criminal activity near the office space you’re considering. However, the most current and contextual data you’ll be able to obtain is from tenants at the property and local police officers. soho serviced offices
Speak to Tenants Tenants at the property where you’re considering leasing office space can be a wonderful resource. They can provide information regarding crime in the area, problems with traffic, problems with ingress and egress, problems with parking, and other issues in the office building.
Letter of Intent (LOI) Office space negotiations are complicated and time-consuming. Once you have located the office space that is ideal for your business, the next step is to negotiate an agreement that protects you and is acceptable to the landlord. Industry practice for office space is to negotiate a letter of intent before negotiating the lease.
Use an Attorney! Engage an attorney to assist in the letter of intent negotiation. It probably seems that the letter of intent is informal and can easily be negotiated without an attorney. However, there are issues you should address in the letter of intent which may not be obvious if you have not previously negotiated letters of intent for office space.
Topics: Real Estate | Comments Off
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