HomeReal EstateContract Signed! – Now What?

Contract Signed! – Now What?

Commercial Property for Lease Westchester NY

Contract Signed! – Now What?

So you’ve just signed a commercial real estate lease for a new location. Congratulations! However, that doesn’t mean the job’s complete. There are a number of issues still to address, some being very important, and others less so. With the help of Rakow Group we have created a concise list of issues to take care of, before the move is ‘complete.’ If you are interested in commercial property for lease Westchester NY, get in touch with the Rakow Group now. With a wealth of experience they are sure to help you every step of the way.

Below are five essential factors to always consider after you’ve signed the contract:

Don’t Just ‘Move’

It isn’t advisable to just move into a building without talking to a few people first. You should contact the city’s department and find out any rules and regulations they have. For example, in parts of California seismic testing is needed for installing new cabinets/racks. Furthermore, you should consider any machinery that you may take with you and the weight and rules of the building.

When it comes to the physical move, we recommend that you utilize the services of a trusted company. If you plan this stage carefully you can save yourself, not only a lot of time, but also money.

Inspect The Building

Of course you will have inspected the building prior to signing – at least, we hope. If you didn’t you should still have time to cancel, as your contract should include a 30 day provisional period.

Generally speaking the owner of the building must fix anything that is broken.

It’s advisable to inspect all of the systems within the building and your office. This includes the roof, electrical parts, fire systems, plumbing, heating, air condition etc. You should then conduct a clear report to give to the owner. This shows you to be a pro-active company and can save you a lot of hassle down the line when something breaks. Additionally, you will be able to use the report when you decide to move out.

Permits & Licenses

As with the inspection of the building, we would hope that all necessary permits have been secured before the signing of any contract. If not, we at least hope that some due-diligence took place on your part – if not, there’s not so much you can do. If your new space doesn’t obtain the mandatory permits, you can find yourself in some legal hot water.

Warranties On Systems

Hopefully, you have signed a contract that includes an agreement with the owner of the building should anything go wrong. For example, if the fire system needs replacing.

An example of this would be something like this agreement in Southern California. Assuming you signed an AIR lease, a warranty comes for 30 days for all non-HVAC items. On components such as air condition, heating and ventilation the warranty is 6 months. A top tip is to use the earlier report and pass this on to the owner the minute something goes wrong. Then the owner will trust you and appreciate it’s not you breaking the things.

The Transition

Wherever it’s possible, and practical, it’s advisable to have a face-to-face meeting with the owner. It’s highly likely that your negotiations took place through a CRE broker or attorney and you have never met the owner.

Ensure that you swap names, contact information and of course address. After all, who will tell your suppliers/customer that you are moving? Who will ensure that ‘lost’ mail still arrives at your desk? This is why it’s important to have a friendly and open relationship with the owner. It’s also highly advisable to make this relationship personal if you see fit.

Conclusion

There are a number of factors to consider even after you have signed the lease contract. Some more important than others, but all fundamental to the wellbeing of your business and your new office space. If you are interested in commercial property for lease Westchester NY, contact the Rakow Group now. With a helpful team and excellent customer service, they are sure to help you find your businesses next office.

Call the Rakow Group now on (914) 422-0100 or (203) 359-5703.

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