Compass Management (720) 408-1200

Compass Management
Compass Management
Compass Management

Leasing

As licensed real estate brokers, Compass Management provides leasing services for our clients by customizing the services offered based on each property’s needs. 

Lease-Up:  Whether the lease-up is for office, medical office, industrial, retail, or multi-family, we have the relationships in place to assist our clients with the process.  Lease-ups of new or recently renovated properties can be extremely time consuming; so that we can continue to provide our clients excellent customer service, we prefer to connect them with one of our highly-qualified business affiliates who specializes in lease-up services.

New Leases:  Whether the potential tenant is a “walk-in” or represented by another broker, Compass Management works on our clients’ behalf to negotiate new leases and to prepare the lease documents.  Negotiations often include:

  • Term (e.g., 1, 3, 5 years, or longer)
  • Tenant Improvement Allowance (if any)
  • Free Rent (if any)
  • Non-compete clause
  • Renewal options
  • Termination options

Throughout the negotiation process, Compass Management communicates regularly with the clients to ensure the terms being requested/proposed are acceptable.  Because we know our clients are busy, we often suggest preparing an “Approved Lease Terms” document annually which details lease terms that are acceptable to the client.  Once these terms are detailed, the Property Manager can negotiate new leases more quickly (as long as they are within the terms previously established) with fewer disruptions to the client.  Even with the approved lease guidelines, all terms and documents are presented to the Client for review and final approval before being distributed for signature.

There are multiple reasons to involve Compass Management involved in the new lease process; the most significant, however, is that it ensures the lease is being prepared by the person who is then also responsible for its enforcement.  This often leads to less confusion (by the tenant) about what the terms actually mean.  Additionally, it allows the relationship between the tenant and the manager to begin much earlier, which makes the transition at lease commencement easier for both parties.

 

Renewals:  Each client is different… some want to handle renewals themselves, some prefer to contract with a third party, and some would like the property manager to be responsible for renewals.  When the last is preferred, Compass Management works with the Landlord to negotiate terms and prepare all renewal documents on the Landlord’s behalf.  As with new leases, renewal negotiations often include:

  • Renewal Term (e.g., 1, 3, 5 years, or longer)
  • Tenant Improvement Allowance (if any)
  • Free Rent (if any)
  • Renewal options
  • Termination options

 

Note:  It is each client’s responsibility to have all lease documents reviewed by their legal counsel prior to final execution.  Compass Management, LLC cannot be held liable for the terms or language in any lease document.  Additionally, fees for each of these leasing services are detailed in each client’s Management Agreement.