Frequently Asked Questions
We have tried to cover some of the questions you might have about leasing commercial space here, the rest are in our book. If you have a question we have not addressed, please let us know by completing this request form or emailing us at info@albuquerqueofficeleasing.com. One of our experts will research your question and provide an answer promptly.
Cost
Q: How much do your services cost?
A: Our fees are usually paid by the building owner, so you will be able to work with a broker at no cost to you. Why would you want to do all the work and not get paid, when you can hire an expert and not have it cost you anything?
Q: Is a retainer required?
A: No. A good broker will ask for you to sign a representation agreement since a broker is only paid when a lease is completed, your agent will be better able to dedicate his time to your assignment if he knows you are committed to working with him.
What kinds of leases are there?
Q: What is a NNN lease?
A: A NNN lease is commonly used with freestanding buildings, retail and industrial properties. The tenant will pay for all the services, the taxes, and insurance plus any maintenance to the roof, foundations, sidewalls and all building systems. These costs need to be taken into account when leasing so the overall occupancy cost can be calculated for your company.
Q: What is a full service lease?
A: It is also called a gross lease and us usually used in office buildings indicating that the asking rate includes all the building services, utilities and janitorial, property taxes, insurance and common area maintenance.
Q: How do I compare a NNN lease with a Full Service lease?
A: Full service leases are easy to calculate your cost of occupancy because it includes everything. A NNN lease is only the rent and no operating expenses. Your broker can give y0u a guideline of the expenses to occupy the space, from the common area charges to utilities. By adding these expenses, you can then compare each lease and see what the better value would be for your company.
Q: How much time do we need to find the right space and move in ?
A: Begin your relocation process early, because you will be conducting business as usual during this time. Yu should begin your relocation efforts 4-8 months before your move date. By planning well in advance, time will be your ally, not your enemy.
Q: Can they be done more quickly?
A: Of course. We recently did one in only a few days. Your choices are much more limited and space cannot be built out for you if there is not enough time. A smaller space also requires less time than a large one.
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