The Office Space Commercial Real Estate Rental Market Executive Suite Leasing Rent In Princeton NJ

www.ibisplaza.com

The imbalance of a relationship between a prospective tenant and an office landlord is directly correlated to the experience level of the former versus the titan landlord. Obviously, if the tenant is a fortune 500 or a national corporate entity with a full time real estate director then that relationship can be considered on equal footing or in some cases in favor of the tenant. However, this is typically the exception and not the rule. This means that a scrupulous Landlord can really run circles around an average tenant. Here are some of the areas a landlord can take advantage of a tenant:

1.The most vulnerable area for a newbie tenant is the actual lease document. So first and foremost have an experienced commercial real estate attorney review the lease. This document will address every important issue and will allow the landlord to dominate the relationship. Some landlord´s, like myself do have reasonable leases but many don´t.

2.The tenant work letter, if there is one, can also be a minefield. The letter basically states in reasonable detail what tenant improvements the landlord will deliver to the tenant. Does the space have sufficient electrical power to meet your needs. If you have lots of office equipment, large copiers etc. you should make sure you´re not going to be popping the breakers or cause your lights to dim when in use. Do the walls have insulation? Are the doors solid or hollow core (nothing wrong with hollow doors so long as you know)? Is the HVAC new or old? Will there be enough cooling power on a hot summer´s day? Is there sufficient lighting? Are there enough duplex plugs?

3.The Landlord is typically in control of the building operating expenses. So unless you read and verify what is allowable in the lease and what the Landlord actually does you could be paying for his breakfast, lunch, dinner and electricity. Some Landlords really take advantage of their tenants in this area. Make sure you are not paying for expenses that the landlord should be segregating. For example, if the landlord is managing the building himself and doesn´t have a separate managing agent then there is more room for the landlord to cross the line and pick your pocket without a third party, the agent, keeping him in check.

If your Landlord is bent on being dishonest whenever and wherever there is little recourse except confrontation and thereafter legal action. All the diligence in the world cannot protect you against a Bernard Madoff. However, if you do some due diligence and verification you can avoid such situations in most cases. I´ve always held the opinion that if you treat your tenants the way you would like a landlord to treat you it´s a winning strategy for a long term mutually beneficial relationship. This translates into tenants renewing their leases again and again, which is a Landlord´s ideal scenario.

To get more information on Ibis Plaza Office Suites, a Princeton New Jersey (NJ) office building, call (609) 588-6900 and ask for Christopher Jerjian.

www.ibisplaza.com