5 Ways to Close Leasing Deals ...FAST!
Nov 4, 2021 | Blawg
Frustrated by how long it takes to close a lease deal? Tired of running into hurdles late in the game?
Here are 5 ways to get over the finish line faster:
- Co-ordinate with your construction team early. Nail down (haha) scope and timing of Landlord’s Work and Tenant’s Work at the outset. Postponing these details to the Lease stage is a momentum-killer.
- Use a preliminary deal document (offer or term sheet) that matches the Lease form. This type of consistency will streamline negotiations and minimize conceptual misunderstandings.
- Clarify all financial aspects (e.g. include all extra charges when deal-making).
- Don’t avoid talking about potential delays in delivering possession.
- Pick-up the phone! Real-time communication (as opposed to exchanging copious emails) will help hash-out issues and move the deal along much faster.
This publication is a general discussion of certain legal and related developments and should not be relied upon as legal advice. If you require legal advice, we would be pleased to discuss the issues in this publication with you, in the context of your particular circumstances.