After the dust clears and you are in your new Dallas office space you begin to focus on your business again. Time moves quickly and sometimes the lease terms and conditions are forgotten. We don’t let this happen to our clients. Our lease administration process gives you reminders when critical dates and notifications are necessary.
There are several critical periods during a lease:
- Early spring operating expense statements and charges
- Lease Expansion Options
- Right of First refusal
- Automatic Rental Increase
- Electricity pass through
- Potential additional construction allowance
- Renewal Option Notification
- Exercise Option to Early Terminate
In a well negotiated lease you will have many options that will give you flexibility. If you are not paying attention to critical dates and expenses you may loose your hard won rights or overpay on your lease expenses. When you sign your lease we are not finished with our service to you. We will stay with you through the lease to be sure that you do not miss critical dates or overpay.
One example is how we help you with your operating expenses In the early spring your company will get a summary statement of the operating expenses for the previous year and your prorated share of those expenses. We will review them statement with you to see if anything looks out of the ordinary.
Landlords are not dishonest they are just overworked. Sometimes they may make an honest mistake. For example one of our clients had a cap on controllable operating expenses of five percent. The controllable expenses were at a seven percent increase. The landlord forgot to include the cap in what our client owed.
Finding this oversight saved our client $315. I know that doesn’t sound like much but it is our job to help our clients save money and that is exactly what we did.
There is more to good tenant representation than doing a deal. Once a client’s trust is earned we don’t let them down. We are there for them through the term of their lease.