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CLIENT
REPRESENTATION Q & A
Lessee Q & A
Q: How far in advance should I
start my search for space?
A: Approximately 2-4 months
prior to opening for business.
Q: What is a typical minimum
lease term for commercial space?
A: 3 or 5 year lease is typical.
Q: Will I have an option to
get out of my lease should my
business fail?
A: Only if your tenant rep agent
or attorney negotiates
termination language or
sublease/ assignment language.
Q: Do I need an attorney to
review my lease? Should
the attorney specialize in real
estate?
A: You should always have an
attorney review your lease prior
to execution. The attorney
should have some previous
experience in lease
negotiations.
Q: Who is responsible for
drafting the lease?
A: Typically the Landlord's
attorney will produce the lease.
Q: What is the next step once I
have found a space I want to
lease?
A: Have your tenant rep agent
draft a non-binding Letter or
Intent or Lease Proposal which
outlines the major business
terms you agree to.
Q: Who is responsible for paying
a commission to my broker/
tenant rep agent?
A: The landlord or listing agent
is typically responsible for
paying the broker's commission.
In some cases, then tenant will
pay a consulting fee to have
their broker negotiate a deal.
Q: Should I call on listings
myself?
A: No. If there is
something that you would like to
get more information about, have
your tenant rep agent do the
work.
Q: How much should I budget for
a security deposit?
A: 2-3 month's security deposit
is typical for commercial space,
however, strong financials will
always help the negotiation.
Buyer Q & A
10 Things You Should Know When
Financing Commercial Property
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