the landlord and their representative to make sure you get terms you are comfortable with. Chances are, if the landlord is selling, they are using a broker. You do not want to negotiate against someone whose full-time job entails getting the best deals for his client. This is another area in which your agent will be indispensable. Part 4 focuses on the steps you go through once the building is yours. There are several details to get through here, such as inspections and escrow. Once those are finalized, you can finally move forward with designing your space. This step is way earlier when leasing space, since the landlord will most likely pay for the buildout. When buying, you start the construction bidding, planning, and working process after you own the building. You may get some early bids to determine how much space you will take up and get early buildout cost estimates before the deal happens, but it will be preliminary. Chapter 25 goes over the types of insurance you need and what options there are. That is followed by a moving guide. The last three chapters focus on aspects of being the landlord of your building and renting out space to tenants. This is relevant for younger companies that plan on growing and have the capital to invest in an office, but will have empty space for short amounts of time. It is a great chance to rent out that extra space and offset some of your company’s costs. Finding tenants may be easier than you think, and if you are working in the same building and on the same floor it will be much easier than a normal landlord-tenant relationship. There are a few different types of leases you can choose for them, each with different benefits and drawbacks.
Here is a Situation Where a Broker Saved a Deal
4
Powered by FlippingBook