Every task performed by our team is mapped out from start to finish on our proprietary “Field Guide.” This eliminates error, maximizes efficiency and provides a process map for our clients so they know exactly what to expect. This guide outlines every step our clients should expect from the leasing process – there are no surprises. Livingston Properties also utilizes industry-leading software packed with all necessary upgrades to relay the best results and reporting to our clients. Our team is comprised of market experts, curious problem-solvers and creative negotiators; we close deals and create synergy for all parties.
This depends on the property and owner of that property. Typically, a 3-year lease is the starting point. The level of build-out requested, lease rate offered, and amenities of the property may determine the lease term.
Useable square feet (USF) refers to the actual square footage. Rentable square feet (RSF) is the usable square footage plus the common area. The common areas include the restrooms, hallways, elevators and any other shared spaces.
If you already occupy the space, first refer to the lease to determine what is allowed. Tenant Improvements (TI’s) refer to any modifications that need to be made to a space either prior or during occupancy. Tenants must comply with local building codes and have their proposed upgrades or changes approved the owner and property manager.
There are several types of leasing arrangements. Two of the most common are a “Gross Lease” and a “Triple Net Lease (NNN).” A “Gross Lease” is a single amount of rent from which the property owner pays expenses. With a “Triple Net Lease (NNN),” you will be billed for the taxes, insurance, maintenance, operating expenses in addition to any normal fees under the agreement – such as rent and utilities. Depending upon the lease, the tenant may also be responsible for parking fees or other charges related to the space. Different properties offer different leases, so make sure to discuss this with your Advisor when viewing each space. During the leasing process, some provisions may be negotiable.
Yes! Your charges will be prorated that month.
We recommend the use of a Real Estate Advisor or Broker to assist you during the process. Brokers and real estate advisors are experts in their market area, have the connections to can get the deal across the finish line, specialize in reviewing leasing terms and ask the right questions to ensure your investments is nurtured from start to finish. The use of a Brokerage is not, however, required.
