When I take a tenant office space leasing I try to coach them on how to act during the tour. Despite the smiles and friendliness of the landlord’s agent they are reading the prospective tenant. The well trained agent can sense buy signals and their response to a request for proposal will reflect those realities. If they think a client is really interested it could have a negative impact on the financial outcome of the lease.
I have found that when I am dealing with the principle of the firm they understand this concept. The problem arrises when employees of the firm are present. They will give away secrets that let the landlord’s agent know that their space is the top choice.
What To Do When Office Space Leasing
- Always find two are three items you don’t like and be sure the landlord’s agent hears you.
- Take as few people with you as possible for the first or second space visit. You only want to bring the team when you have hard numbers negotiated.
- Let the landlord’s agent know the industry you are in and the age of the business.
- Be certain to look at common area features gyms, bathrooms, parking garages, lobbies, lobbied directory and mail rooms.
- An old trick is to look in an electrical closet and the chiller room. If these areas are well maintained it is a very good sign.
- Ask about property security.
- Inquire into after hours heating and air conditioning service.
- Ask about property management services and after hours communication.
- If you need to have a confidential discussion ask the landlord’s agent to step out for a minute.
What Not To Do When Office Space Leasing
- Do not ever say that you like the office space.
- Don’t give the name of your business during your first visit to the office location.
- You shouldn’t discuss any financial issues regarding your company.
- Avoid having open discussions with all the employees until you have made your final three selections.
- If you are downsizing your office you don’t need to reveal this information in your first meeting with the landlord’s broker.
- If you have an existing location don’t say you are unhappy with it. You are just looking for competitive locations.
When you are leaving the office building it doesn’t hurt to have a conversation with your broker within hearing range of the landlord’s broker where you mention a building by name and suggest you liked it better. Giving specifics is very useful. Your broker can run with your remarks and confirm them helping your case for future negotiations. You want the landlord’s broker to think you didn’t like the location and be surprised when he hears from your broker.
Landlord’s agents talk to each other. They will share notes about your tour with other brokers. You must be careful how you conduct your business during the tour. If you are working with a qualified tenant representative when office space leasing listen to them. They know how to position your company for the most advantageous outcome. Don’t treat them like they are a taxi service taking you to buildings. They know what they are doing.