The Process: Landlords
Steps in the Process
- Review comparable lease properties to determine listing price & Tenant Improvement Allowance offered
- Obtain floor plans, utility information, operating expenses, and building amenities from Landlord
- Market the property on commercial property websites
- Prepare marketing brochure
- Prepare video “Virtual Tour” of the property
- Place “For Lease” sign on property
- Canvass businesses in area who might have an interest in moving
- Personally show the property to interested Tenants and their representatives
- Answer questions that arise from potential Tenants
- Have Landlord’s architect prepare space plan for potential Tenant
- Review and revise space plan with Tenant to receive his final approval
- Obtain bids from Landlord’s contractor to do the construction
- Obtain Tenant’s credit and financial information and forward to Landlord
- Prepare formal proposal from Landlord, and present to Tenant
- Negotiate final agreement on terms in proposal with all parties
- Submit Landlord’s lease document to Tenant
- Negotiate terms and language in lease with Tenant or his attorney
- Present Tenant’s signed lease, security deposit and prepaid rent to Landlord
- Coordinate construction with Tenant and Landlord’s contractor
- Introduce Tenant to property manager, if applicable
- Follow up after Tenant moves in to answer questions or solve problems
- Contact Tenant annually to see how they are doing
- Contact Tenant at lease six months prior to lease expiration to discuss renewal
- Submit renewal proposal from Landlord to keep tenant in building