Presenting Your Company
The tenant relationship between a New York Office Space broker and a client requires a lot of information, but is an important and productive one. Clients need to be able to be exactly keen on their current lease terms, know their internal business situations, and realize their financial conditions, budgeting requirements and a realistic time-table. New York Office Space certainly aids their clients’ search and the negotiation of their leases. However, clients must work with New York Office brokers to prioritize requirements while identifying and negotiating the perfect space.
At this point, however, prospective tenants also play a role. The tenant that provides complete company information and a sturdy financial profile will have the greatest chance of moving into the space. The first impression landlords receive is the most important.
The following information should be prepared prior to submitting an offer to the landlord:
- Company brochure
- Summary and history of company
- Information on company’s principals
- Bank information form
- Income statement and balance sheet from prior three years
During another step to present the prospective landlord with serious interests, the real estate agents and the tenant team develop and prepare the Request for Proposal (RFP). The formalized RFP formally compiles the many considerations a tenant might have for the new space.
Most major office space lease negotiations are founded upon an RFP, which might later result in a letter of intent or statement of terms for the office space. The RFP becomes the basis for a systematic procedure used to document the lease negotiation and maintain a focus on unresolved issues between the parties.
For the RFP, it is important to consider these factors:
- If provisions for office space, such as options to extend or terminate, liability limitations and other items of significance are not included in the RFP;
- If the RFP is thorough, it can minimize potential misunderstandings during the negotiations;
- If the RFP is not to be binding, the document should clarify it imposes no legal obligation to continue negotiations for agreement on the office space.
New York Office Space is a full-service commercial real estate firm specializing in Manhattan commercial properties for local businesses and companies looking to lease space. Our brokers are experienced, dedicated experts in New York’s real estate market, including many facets not limited to; the geography of the city and the availability of the buildings across Manhattan.
NYOS guides its clients through the entire process, beginning with the initial search, through all showings, negotiations and even architectural and construction plans.
Please call or email a New York Office Space broker for details.