It Takes Six…

It Takes Six…

Okay, okay. Rob Base & DJ EZ Rock please excuse the ad-libbing. I know your platinum song was “It Takes Two” but it just felt right. So why bring it up? Well, it’s important to understand that the lease process takes time. In the last two weeks, I have had three clients: an IT Firm, a law firm tenant and a creative start-up say “we need space immediately” and I have had to explain while I can work quicker than they need me to that, unfortunately, we have to work on other peoples schedules in part and that one of the biggest contributing factors to timeline is the coordination involved. There are at least 6 people involved in each lease agreement.

Who are they?

1. The tenant
2. The landlord
3. The tenant’s representation (Me)
4. The landlord’s representation
5. The tenant’s attorney
6. The landlord’s attorney

While I think that in itself shows all the moving parts, we have to remember tenants have businesses to run, landlords have multiple properties to run and leases to negotiate, the tenant representation should make you feel like you are their only client, the landlords representation is showing space, working on getting other spaces filled and negotiating other leases, and the attorneys are working on multiple transactions and it takes at least 2–3 times of back and forth to negotiate a lease with more tenant-friendly terms than how it was originally written.

I think you get it by now.

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