The holidays will slow the commercial lease process down even more. You pretty much lose a week for Thanksgiving in November and 2 weeks in December for Christmas and New Years. Many tenants think that leasing commercial space during the holidays will be faster since they have more time and things tend to slow down. However, most of the people needed to provide information and finalize a commercial lease transaction are mostly unavailable during the holidays. Below is a list, according to TenantAdvisors.com, of helpful tips on leasing commercial space during the holidays.
Tips For Leasing Commercial Space During the Holidays
1. Negotiate more time for build out before the rent commencement date begins. If you are counting on important items to be completed during the months of November and December, you need to incorporate some sort of contingency in your time frame. Expect and plan for delays. Maybe add another month or two to the rent commencement date and insert language in the lease to appease the landlord that you will occupy and start paying rent as soon as work is completed, and you have a certificate of occupancy.
2. Find out who will be available during months of November and December and If you are in the middle of negotiating the lease contract, find out exactly when the attorneys will be available and set deadlines for responses. Same goes for your contractors. Find out when they are available and only work with ones who will commit to being available during those months.
3. Confirm the city’s holiday schedule. If you are relying on the city for inspections and a certificate of occupancy, then make sure you stay connected with those contacts and be sure to know what their holiday schedule will be.
4. Communicate with your existing landlord if applicable. There is a chance that you don’t get your CO in the new space and end up holding over in your old space for another month or two. Be sure to communicate often with your existing landlord.
4. Communicate well with everyone involved and do so often. Try not to rely on email alone. Be sure to coordinate conference calls with key players to ensure everything is moving according to plan.