This document provides an overview of the office leasing process and considerations for businesses. It discusses determining space needs, evaluating market alternatives, and committing to a premises through lease documentation. Key aspects covered include tenant improvements, common mistakes to avoid, project timelines, and a glossary of real estate terms. The goal is to help businesses make an informed decision about staying in or relocating office space.

1. Office Leasing Guide
WHAT YOU NEED TO KNOW BEFORE YOU SIGN
Colliers International Office Leasing Guide P. 1

2. THE OFFICE LEASING GUIDE
This step-by-step guide has been assembled
to reflect Colliers International’s knowledge
of the leasing process. You’ll find information
on tenant improvements, common pitfalls,
timelines and frequently asked questions.
The knowledge in this handbook will help
you make a major business transition with
minimum disruption.
P. 2 Office Leasing Guide Colliers International

3. Contents
>4 ALLOW US TO INTRODUCE >7 THE OFFICE LEASING PROCESS > 13 DESIGN AND PROJECT
OURSELVES Four steps to business productivity MANAGEMENT
About Colliers International Create the space to meet your visitor
>8 DETERMINE YOUR PROPERTY NEEDS
>5 GETTING STARTED Take your requirement from notion to motion > 14 TRANSLATING THE LINGO
Making educated decisions about Glossary of terms and frequently
your business space asked questions
> 10 EVALUATE MARKET ALTERNATIVES
Inspect and compare your options
>6 TOP 10 TENANT MISTAKES > 19 RELOCATION CHECKLIST
Avoid these common blunders Your step-by-step guide
in your leasing process > 12 COMMIT TO PREMISES
Completing or varying your lease
documentation; commencing the
full design process
Colliers International Office Leasing Guide P. 3

4. Allow Us to
Introduce Ourselves
ABOUT COLLIERS INTERNATIONAL
WHO IS COLLIERS INTERNATIONAL? WHY ENGAGE OUR SERVICES?
We are an award-winning team of office leasing Colliers International professionals are equipped with Working with Colliers professionals saves you the
professionals with intimate knowledge of the local, the skills, knowledge and tools to intelligently assess time and confusion of dealing with multiple agents,
regional and global leasing markets. We bring an your space requirements. We ensure that your leasing landlords or consultants.
in-depth understanding of business needs and the decision—whether to stay or relocate—is informed by
Our comprehensive database contains information
leasing process. both your business needs and a thorough market
on every office listing, agent and landlord, providing
evaluation.
We are committed to creating a business solution exhaustive data about every opportunity that fits
that meets your organization’s needs—now, and in Colliers International’s culture of knowledge-sharing your requirements.
the future. Your office space is more than just an gives you access to experts in real estate management
Our market knowledge provides forward-looking
address; it is where you make business objectives services, project management, appraisal and valuation,
analysis to help you take advantage of trends, and we
a reality. and capital markets.
offer a single point of accountability for your project
to connect all of the specialists available to serve you.
We are committed to accelerating your success.
P. 4 Office Leasing Guide Colliers International

5. Getting Started
MAKING EDUCATED DECISIONS ABOUT YOUR BUSINESS SPACE
WHAT ARE MY OPTIONS? perception of your core values and elevate improvement costs should be viewed as an WHOM SHOULD I INVOLVE?
your brand in the minds of customers and organizational opportunity—a well-planned
Stay put Your internal steering committee should be
other stakeholders. and executed office will adapt to your
If your current space satisfies your business led by a senior employee, and supported by
organization’s growth and changing needs
needs, but you are approaching the end of Employee Retention decision-makers and influencers including
and minimize churn costs.
your lease, consider renewing your lease. With an improved work space, you will boost human resources, IT, divisional heads and
We can help you ensure the space is avail- staff morale and productivity. Our market Balancing your tenant improvement costs and staff. A single point of contact from your
able, and negotiate a new lease with the research shows that even subtle changes in their benefit to your organization is critical. organization, matched with a single point
building owner. the work environment create substantial In addition, “make good” commitments will of contact at Colliers International, is ideal
gains in productivity, resulting in improved affect your cash flow when exiting a lease. to make the process run smoothly.
Relocate
bottom-line financial performance. These costs are covered in more detail later.
The expiration of your lease offers you an You may wish to conduct a survey of your
opportunity to transform your business and staff to determine their needs, preferred
create new efficiencies by relocating. HOW MUCH WILL IT COST? WHEN SHOULD I START? work space amenities and location. Colliers
can survey your staff to determine the impact
Operational Costs Plan, Plan, Plan
of relocation on commute times and employee
WHY SHOULD I RELOCATE? The negotiation of rent and tenant incen- Whether you decide to stay or go, knowledge
retention.
tives depends on the dynamics of your local is key. Understand your current situation,
Business Needs
market. In markets where over development review other options, assess the marketplace Professional real estate advice is a critical
If your current space is too small, too large,
or economic conditions have created higher context and negotiate with your current part of the project team. This will arm you
or inflexible, a new office can energize your
vacancy, this favors tenants. In other markets, landlord to optimize the end result. with insight into the marketplace, your
organization and act as a springboard for
low vacancy gives landlords the upper hand alternative options and the financial implica-
improved productivity and operational cost The period required to conduct a lease
in negotiations. Contact your Colliers tions of the stay or go scenarios. A skilled
savings. Additionally, market conditions may negotiation and relocate is three to six
professional for the market trends in your workplace strategist and design profes-
support the business case for relocation. months at a minimum. Depending on the
location. sional will complete the team by providing
size of your organization and current
Brand Value Enhancement knowledge of productivity-enhancing tenant
Tenant Improvement and market conditions, you should begin this
The quality of your building and the tenant improvements.
“Make Good” Costs process 18 to 24 months prior to your
improvements in your office space speak
Your entry and exit strategy to a lease lease expiration. It can take two years or
volumes about your organization. A new
can greatly affect the real cost of your more to complete the lease and relocation
building can strengthen your employees’
commitment. Workplace design and tenant process for large or complex assignments.
Colliers International Office Leasing Guide P. 5

6. Top 10
MOST COMMON MISTAKES MADE BY TENANTS
>1 Beginning the negotiation of a renewal >5 Making inaccurate estimations of the >8 Agreeing to terms prior to obtaining
or new lease too late company’s space requirements a space planning perspective
>2 Lacking clearly defined business or real >6 Failing to leave enough time at the end of >9 Failing to allow for expansion space
estate objectives the lease to fulfill “make good” obligations
> 10 Lacking the knowledge of future
>3 Focusing exclusively on financial costs >7 Acting too slowly once a decision is made, opportunities; often, the best deals
and consequently missing out on are secured well in advance of space
>4 Failing to appoint a project leader as opportunities becoming available
the internal single point of contact
P. 6 Office Leasing Guide Colliers International

7. The Office Leasing Process
THREE STEPS TO BUSINESS PRODUCTIVITY
STEP TWO: Relocate
Confirm real estate requirement evaluation
Brief preferred lessors
Confirm development sites/existing building options and assess via inspections
Begin offer/counter-offer process
Short-list options, work with design consultant to evaluate space plan
STEP ONE Choose
Understand your business needs
STEP THREE
Fact
Determine your property needs
Finding
Commit to new (or existing) premises
Identify decision makers and confirm critical time path
STEP TWO: Renew Complete new (or variation of) lease documentation
Conduct requirement evaluation
Confirm existing premises as most desirable opportunity
Complete tenant improvement design and project management
Produce real estate brief
Brief existing lessor
Evaluate market alternatives: Relocate or renew
Confirm real estate requirement evaluation
Work with design consultant to evaluate space efficiency
Begin offer/counter-offer process
Colliers International Office Leasing Guide P. 7

8. Step One
DETERMINE YOUR PROPERTY NEEDS
TAKE YOUR REQUIREMENT – Is your business growing If the workplace design happens solely
FROM NOTION TO MOTION or shrinking? during the design and construction
phase, only minimal gains are possible.
Skipping the planning stage triggers a – What are your brand values?
number of the Top 10 mistakes most
– What are your preferred
commonly made by office tenants. It INVOLVE KEY INTERNAL
work settings?
is crucial to understand your property DECISION-MAKERS
requirements through the process of – What types of employees will
Assemble a team with the breadth
evaluation and forecasting. you have in the future?
of skills to drive the project. Involve
– What will your technology your experts in information technology,
DETERMINE FUTURE NEEDS requirements be in three years? human resources and finance. They will
be familiar with specific future trends
Commercial leasing decisions should – Are you considering acquiring
that may influence your requirements
consider medium- to long-range business or merging with other firms?
and decisions. Their involvement from
goals for leases running three years or
– What effect will moving have the outset will help clarify and focus
more. Guided by professional workplace
on your customers and staff? your brief and achieve internal buy-in.
strategists and space planners, the
process of constructing a real estate By working through this concept Be sure to appoint a project leader to
brief to achieve your business objectives planning phase, you will achieve the connect with your internal stakeholders
will consider questions including: maximum benefit—both financial as well as with your broker and
and strategic—in the relocation or consultants.
reconfiguration of your office space.
P. 8 Office Leasing Guide Colliers International

9. CREATE A REAL ESTATE BRIEF An important element in developing this – Technical requirements KNOW YOUR LOCAL MARKET
brief is to audit your existing premises— – Timing AND COMMITMENTS
The briefing process begins with the
creating a clear understanding of what’s – Communications infrastructure
documentation of your workplace During this phase, you should familiar-
working, and what’s not. – Budget
requirements. ize yourself with local office market
– Environmental considerations
conditions and existing lease commit-
– Growth projections – Other unique needs
WHAT SHOULD BE IN YOUR BRIEF? ments. By knowing the market vacancy
– Office space size – Signage/naming rights
rates, supply projections, current rental
– Space configuration Your real estate brief should consider – Term/renewals
rates and tenant incentives, you will be
– Organizational vision a wide range of criteria:
Consider ranking each factor in terms in a better position to evaluate various
– Cost parameters
– Size of space of importance, as you may have to proposals.
– Timing
– Tenant improvement needs compromise on some items, depending
Your Colliers International leasing
A well-prepared real estate brief will – Number of employees on the options available. You can also
professional can provide you with
synthesise these elements and translate (maximum and minimum) assign a point value to each factor, with
an office market presentation that
them into your property requirements. – Image/quality/aesthetics more points possible for the factors
describes these factors, both in your
The brief will expedite your decision- – Location with greater importance. Your Colliers
local market and in the specific sub-
making process. You will save considerable – Parking professional can help guide you through
markets you identify as most desirable.
time by inspecting and reviewing only – Building services this evaluation process.
suitable properties. – Office hours
– Security and access
Your brief also creates a framework
– Lease structure preferences
to evaluate and compare your options.
Colliers International Office Leasing Guide P. 9

10. Step Two
EVALUATE MARKET ALTERNATIVES.
INSPECT AND EVALUATE YOUR OPTIONS.
RELEASE YOUR BRIEF your stated business objectives. Colliers
TO THE MARKET has developed a range of decision-
making models and matrices. These
To avoid dealing with multiple agents,
tools dramatically improve efficiency
you can request that your Colliers
in the evaluation process.
professional approach the market on
your behalf. With an intimate knowledge
of the market and a well-established FINANCIAL ANALYSIS
network of agents and owners, Colliers
There are several ways to compare the
will act as a single point of contact to
financial aspects of leasing, including:
uncover all suitable space opportunities.
Your real estate broker will also assist in – Gross effective rent per square foot
discussions with your existing landlord – Gross stated rent per square foot
regarding lease renewal options. – Gross and net rent per square foot
– Total occupancy cost per employee
EVALUATE AND PREPARE Further detail on these measurements
A SHORT LIST is provided in the Frequently Asked
Questions portion of this guide.
When analyzing alternative premises,
consider timing, financial and other Look beyond the square foot rate offered.
incentives that may be offered. A lease Some office space is highly efficient,
renewal option should include expansion enabling you to accommodate your
and contraction costs, as well as the employees in less space. For example,
cost of reconfiguring or completely you may require 5,000 square feet to
refurbishing your work space. Aim for accommodate your staff in one building
a short list of three or four properties. while another may be able to house
them comfortably in 4,000 square feet.
Evaluate options against your brief,
In this instance, it does not make sense
ensuring the property’s benefits match
to compare the two options based on
P. 10 Office Leasing Guide Colliers International

11. It is now a fundamental requirement
that the office architecture supports the
intellectual work demanded of employees
and facilitates your organization’s
continuous improvement strategies.
their rate per square foot. It is more WORKPLACE DESIGN AND TENANT DETERMINE WORK SPACE – Conduct building services audits
effective to use a cost per employee IMPROVEMENTS EFFICIENCIES
– Provide an opinion of likely tenant
lease analysis model.
It’s not all about cost. When evaluating By conducting a design site audit of improvement costs
Lease conditions such as “make good” your property options, don’t forget to the short-listed options, your workplace
requirements can also impact on the consider the intangible costs and designer will determine the work space
TENANT IMPROVEMENT COSTS
attractiveness of a particular option. benefits for each property option. efficiencies for each property. This
(For more information on “make good” process also produces sample tenant Attaining a tenant improvement that is
Your workplace designer can help you
costs, please refer to page 14.) improvement designs prior to your aligned with your organization’s ideal
evaluate each option’s impact on staff
agreement on terms enabling you to outcome depends on which components
productivity and communication, corporate
compare your options based on financial are viewed as necessary and what is
COMPARE YOUR OPTIONS USING identity, information technology, commu-
and non-financial criteria. discarded during the design phase. It is
A LEASE ANALYSIS MODEL nications performance and your customer
critical that all aspects to be included in
base. If appropriately engaged at step Your workplace designer will provide the
Colliers International has developed the tenant improvement are assessed
one, your workplace designer will have following services during this critical
a lease analysis model designed to to determine their contribution to the
the maximum positive influence on your evaluation phase:
compare leasing options on a financial overall objectives.
workplace brief.
basis, using an “apples to apples” – Prepare a detailed existing tenant
Equally important is the identification and
approach. The model allows the com- In today’s challenging business environ- improvement audit
evaluation of the potential components
parison of proposals from multiple ment, it is critical that organizations look
– Assess items suitable for re-use that are excluded. The identification of
lessors, demonstrating the cost of the beyond the traditional view of office
in the improved office space positive and negative components through
financial offer over the life of the lease. accommodation and the measurement
the audit process provides the opportu-
standards normally applied. – Manage the pre-design process
This financial modeling takes into nity to maximize the effectiveness of the
including a review of local authority
account lease incentives, such as free Your work space must also contribute final result and minimize the cost of the
approvals and code requirements
rent or a greater allowance for tenant to the development of team networks tenant improvement.
improvements, the total rent over the life and organizational learning systems. – Prepare selected site audits
of the lease including rent hikes, and the In addition, the office systems must
– Prepare a “stacking and blocking” plan
term of the lease including extension support organizational change effi-
provisions. ciently, and with minimal redundancy. – Prepare preliminary concept designs
Colliers International Office Leasing Guide P. 11

12. Step Three
COMMIT TO PREMISES
Completing or varying your lease process begins immediately. At this
documentation; commencing the stage, you should have completed:
full design process – Needs analysis
– Space plan
LETTER OF INTENT – Test fit
Once the particulars of a lease agree- This will enable you to engage a
ment are negotiated, both parties will designer, who may be the workplace
sign a letter of intent. This document is designer, with accurate information
generally not legally binding but is a regarding your requirements. The
gesture of good faith that terms have sooner a designer is engaged, the
been agreed. When signed, this document better the outcome.
will be used to brief attorneys so that the
It is vital that this stage is viewed as an
final lease documents can be prepared.
investment in the organization’s future
and not merely a tenant improvement.
WORKPLACE DESIGN ISSUES The development of work space should
be directly linked with your organiza-
When a lease agreement is complete,
tional strategy.
the workplace tenant improvement
P. 12 Office Leasing Guide Colliers International

13. Step Four
DESIGN AND PROJECT MANAGEMENT
The final stage of the process provides – Detailed construction timeline BID REVIEW PHASE – Project manage delivery program
the perfect opportunity to re-think office preparation
– Determine agreed bid review panel – Project completion/occupation
imperatives and promote organizational
– Documentation for building owner
effectiveness, community, communication – Review and assess bid responses – Oversee practical completion
and authorities
and productivity.
– Bid management and analysis – Timely issue of the Code
– Stakeholder coordination
of Compliance certificate
DESIGN DEVELOPMENT AND
CONTRACT ADMINISTRATION – Inspection and sign-off
CONSTRUCTION APPROVAL DETAILED DESIGN AND
DOCUMENTATION PHASE – Manage the delivery process – Manage the identification and
– Engagement and full briefing of all
and administer contracts completion of all outstanding
other specialists and consultants – Preparation of documentation
and defective works
for a construction bid – Appoint all approved contractors
– Commencement of detailed design
and suppliers including head tenant – Cost reporting and final accounts
– Finalize furniture selection
– Development of finishes selection improvement contractor
– As-built drawings, operating manuals,
– Finalize the selection of tenant
– Short list of furniture options – Coordination of all required meetings guarantees and warranties
improvement finishes
– Review of likely tenant – Coordination of quality control – Final inspection and completion
– Obtain building and construction
improvement costs inspections of works at the end of the defects
permitting
liability period
– Cost and variation management
Colliers International Office Leasing Guide P. 13

14. Translating the Lingo
GLOSSARY OF TERMS
BUILDING CONSENT be offered in a variety of ways, such as areas dedicated as public spaces or thor- who occupy a floor. Average occupancy
Approval from the relevant authorities for through a period of free rent, provision of a oughfares such as building service areas. ratios vary between 1:12 and 1:18 square
carrying out building work on the premises, tenant improvement allowance, or moving feet per person.
Gross Leasable Area (GLA)
usually for tenant improvements. assistance.
GLA (measured in square feet) is the floor
space contained within each tenancy at each RATCHET CLAUSE
CAP AND COLLAR LESSEE floor level by measuring from the dominant A ratchet clause is the mechanism by which
A term and method used in some market That legal entity, company or person whose portion of the outside faces of walls, to the the rent cannot decrease on review. There
review clauses. It is a mechanism that puts a name appears as the occupier or user of center line of the internal common area or are variations of ratchet clause (“full” or
“cap” or maximum amount by which the rent space on the formal lease document, binding inter-tenancy walls. “hard” ratchet and “soft” ratchet). Under a
can be increased, or a “collar,” the maximum the lessee to the terms and conditions stated soft ratchet, the rent can not fall below the
the rent can decrease, on the rental rate therein. Also known as the tenant. commencement rental. Under a full ratchet,
MAKE GOOD
review date. As the office leasing markets it can not fall below the current rental.
The lessee’s obligation to return the premises
strengthen, these review methods are more
LESSOR to their original condition prior to expiration
difficult to negotiate.
The party whose name appears as lessor on of the lease. RENT REVIEW
the formal lease document. The lessor is the The method by which your rent can vary
GROSS EFFECTIVE RENT landlord or owner of the property. during the term of the lease. This can be a
NET, GROSS RENT
The rent payable under the lease accounting market rate review, a predetermined figure
Net rent is also referred to as “Triple Net”
for all incentives and including all building (such as 3 percent) or a rate fixed to an
LEASABLE AREA or “NNN.” It is the rental rate excluding net
expenses. index such as the CPI. The review structure
Net Leasable Area (NLA) taxes, insurance and maintenance. Gross
is agreed prior to lease commencement.
NLA (measured in square feet) is the rent includes these expenses. Most leases
GROSS FACE RENT floor space contained within each tenancy are based on net rents plus each tenant’s
The rent payable under the lease excluding between the internal finished surfaces of proportionate share of building expenses. RESOURCE CONSENT
any incentives but including all building permanent internal walls and the internal Approval from the local governing authority
expenses. finished surfaces of dominant portions of the with regard to zoning or changes in the
OCCUPANCY RATIOS
permanent outer building walls. It generally permitted use of the premises.
A common ratio used to measure the tenant
includes window frames and structural
INCENTIVE efficiency of individual building’s floor plates.
columns, toilets, kitchens, cupboards and
An inducement offered by the landlord to This ratio is calculated by dividing the total
excludes plant/motor rooms. It excludes
attract tenants to the building. This can net leasable area by the number of people
P. 14 Office Leasing Guide Colliers International

15. RIGHT OF RENEWAL
The lessee’s right to renew a lease for an
agreed period of time prior to expiration of
the initial lease.
SECONDARY EXPENSES
All other costs beside rent associated
with insurance, operation, upkeep and/or
maintenance of the building, including air
conditioning, elevator maintenance, common
area cleaning, security and electricity.
STATUTORY EXPENSES
Statutory expenses include costs such as
municipal rates, water and sewer rates and
usage charges.
SUBLEASE/ASSIGNMENT
The mechanism under the provisions of the
lease allowing the lessee to find a suitable
replacement tenant. This is subject to lessor
approval and unless specifically stated, does
not limit your legal responsibilities during the
term of the lease.
Colliers International Office Leasing Guide P. 15

16. P. 16 Office Leasing Guide Colliers International

17. Frequently Asked
Questions
HOW CAN I NEGOTIATE THE BEST DEAL? building and grounds maintenance, taxes, if it could potentially compromise their ensures that the reviewed rental can be no
common area maintenance and cleaning, financial position or security. less than either the previous year’s rental or
By carefully selecting the right properties on
utilities and other expenses incurred by the commencement rental. The Consumer Price
your short list, you can create a competitive
landlord. Index (CPI), or a margin over CPI, is another
environment to achieve the most favorable WHAT ADDITIONAL COSTS AM I
common structure. Often, review clauses
lease agreement. Your Colliers International RESPONSIBLE FOR OVER AND ABOVE
include a combination of these during the term
broker can assist you throughout this process. WHAT ARE THE DIFFERENCES BETWEEN NET RENT AND OPERATING EXPENSES?
of a lease.
GROSS RENT, NET RENT, EFFECTIVE
In addition to a pro-rata share of building
RENT AND FACE RENT? Lessees will typically request a right of
HOW MUCH SPACE WILL I NEED? operating expenses, you will generally be
renewal as part of the lease negotiation,
GROSS RENT is the rent calculated inclusive responsible for electricity and other utility
The amount of space you require will vary allowing them to extend their occupation
of all building costs, whereas NET RENT is charges, light bulb replacement and cleaning
depending on the nature of your business beyond the initial lease term. It is normal to
the rent calculated excluding building costs. your own premises.
and the efficient use of space you select. set out the rent review pattern for this term
FACE RENT is the quoted rental rate before
As a rule you will require roughly 12 to in the original lease document.
taking into account incentives or increases,
18 square feet of space per employee. WHAT ARE THE RENT REVIEW PATTERNS
whereas EFFECTIVE RENT is the rental rate
FOR THE TERM AS WELL AS THE
averaged out over the term of the lease, WHAT IS A “MAKE GOOD” AND HOW
RENEWAL PERIOD?
ARE AMENITIES INCLUDED IN THE including consideration of rent-free periods MUCH WILL IT COST?
NET LEASABLE AREA? or up-front incentives. Most lessors have a standardized lease
A “Make Good” is your (the lessee’s) obliga-
document for their buildings, including a
Yes, assuming you occupy a whole floor. The tion to return the premises to its original
prearranged rental review schedule in light
amenities within the floor, such as restrooms WILL I BE ABLE TO SUBLEASE OR state upon completion of your lease, usually
of the lessor’s own objectives and current
and kitchens, are incorporated within the net ASSIGN MY LEASE? excepting fair wear and tear of floor coverings
market conditions.
leasable area measured.
Most commercial leases allow the lessee to If you are relocating, your workplace designer
Typically, the two most significant influencing
sublease or assign their premises. Typically, will usually be able to conduct the “make
factors on rent review patterns are lease term
WHAT ARE MY TOTAL REAL the lessor is unable to unreasonably withhold good” on your previous premises as well
and the commencing rental. Rent review meth-
ESTATE COSTS? consent to the sublease/assignment. A prudent as design and tenant improvement your
ods may include fixed increases, structured
lessor will consider the strength of the contract new premises.
In addition to your net rental rate, you may increases or reviews to market levels (with
being offered by the incoming tenant and will
also pay for operating costs such as insurance, or without a ratchet clause). A ratchet clause
be reluctant to accept a sublease/assignment
Colliers International Office Leasing Guide P. 17

18. WHEN DOES THE AGREEMENT BECOME various conditions are satisfied. The Letter
LEGALLY BINDING? of Intent document provides a framework by
which the agreement becomes unconditional
During a typical lease negotiation, leasing
and both parties are legally bound.
proposals are used as a medium to determine
terms and conditions acceptable to both lessor
and lessee. This will lead to a Letter of Intent HOW MUCH WILL MY TENANT
document or Memorandum of Understanding IMPROVEMENT COST?
outlining the final position of both parties. It
This depends on the quality of tenant
is accompanied by a leasing deposit, generally
improvements you require. Factors in the
equivalent to two months’ gross rent as a
cost include the existing tenant improve-
security deposit. This deposit is typically
ments from the prior tenant, the quality of
held in the leasing agent’s trust account to
finishes selected, infrastructure needs such
be passed over when the lease becomes
as plumbing and wiring, and the complex-
unconditional.
ity of the requested build-out. Typically,
At this stage, the agreement may be condi- landlords provide a tenant improvement
tional. In some cases it may be conditional allowance and tenants are expected to pay
on lessee and/or lessor board approval, the difference between that allowance and
together with other approval conditions. the actual cost of improvements.
The lessee and/or lessor may not be legally
bound to commit to the premises until the
P. 18 Office Leasing Guide Colliers International

19. Relocation Checklist
A STEP-BY-STEP GUIDE
PRELIMINARY r moving notices
Mail Schedule and prepare agenda for your
r r an emergency contact list for vendors
Draft
employee move orientation meeting such as elevator maintenance, building
r Finalize lease for new location r Banks and financial institutions
management, utilities, telecommunications
Finalize seating plan and identify
r
Notify present landlord of termination date
r r Clients and customers
and moving company
each location
Advise staff of date and location of move
r r Professional organizations
Prepare labels for moving furniture
r POST-MOVE
r Engage designer for new premises r Credit accounts and credit cards
and boxes to new locations
Install and test telephone system
r
r Create a master change-of-address list r Insurance companies
Assign move supervisors in each
r
department Distribute new phone list and map showing
r
r Accounts receivable and payable
PRE-MOVE—GENERAL the locations of departments
Develop a master relocation project schedule
r
r Newspaper and magazine subscriptions
Install and test all computers
r
Reserve elevators and loading docks
r Schedule and implement a clean-up program
r
r Telephone company and internet
for moving day (purge files, dispose of trash) r a detailed walk-through of the premises
Do
service provider
and report any damage to moving company
r Bid and award moving contract Schedule staff for unpacking, including
r
r Prospects and special services
stocking supply cabinets, storerooms, file Transfer your insurance to the new location
r
r and award telephone and
Bid
r a meeting at new premises three
Hold rooms, and removing tags from all furniture
computer cabling Obtain Certificates of Insurance from your
r
weeks prior to move. Bring in all parties and equipment to ensure your company will be insurance company
Inventory existing furniture
r involved (design/construction/mover/cabling operational as rapidly as possible after move
company/information technology specialist) r Confirm termination of old leases
r furniture and equipment on a color-
Code Arrange for off-site storage of old files
r
to ensure all details are covered and all
coded floor plan Collect parking passes, security cards and
r
responsibilities clear r contents of all filing cabinets and desks,
Pack keys for the old facility. Confirm the return
r Audit keys ensuring everything is properly labeled
Change locks/access codes on new
r of any deposits held by the landlord for
Order any new office furniture
r premises as close to moving day as possible Arrange for staff to tour new premises a few
r these items
and equipment to secure access weeks prior to move r final invoices against contracts
Audit
Order new stationery
r Schedule public relations effort, including
r Schedule post-move training for security, fire,
r Complete and file all warranty information
r
r change-of-address forms with post
File plans for news releases and an “office and life safety procedures at the new facility for all new furniture and equipment
office and forward mail warming” party
Distribute access cards and keys
r Update fixed asset accounting system for
r
Check your insurance coverage for the move
r Arrange for listing on lobby directory
r for new premises any new furniture and equipment purchased
of new building
Obtain the Certificate of Occupancy
r Confirm the change-of-address
r
r Arrange for post-move cleaning MOVING DAY
and any other required permits or licenses corrections made
Arrange with the building manager to have
r
Advise suppliers (telephone, bottled water,
r Schedule press release and client
r
PRE-MOVE—INTERNAL the air conditioning on during the move
coffee service) of new address announcement
Organize a “staff moving committee” if
r Remove computer equipment (server) and
r
r photocopier contractor
Alert
appropriate and delegate responsibilities phone system prior to arrival of movers and
Decide on security procedures for the move
r commence reinstallation at new site
Colliers International Office Leasing Guide P. 19

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