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Did You Forget to Ask?

When a tenant is leasing a commercial space they rely on their broker, their attorney, and in many cases, their franchisor for guidance and counsel.

At PRS we believe the most important entity to protect is the actual person executing the lease. That is why we created this section to provide support for our members.

Below is a list of questions that you may have forgotten to ask. To see the answer, simply click on the question and you will be directed to the page with the explanation to answer that question.

If you have a question of your own, just click the “contact us” tab above. We have the answers you need. Don’t go it alone. 

1.     Did you forget to ask for pylon or monument panel signage?

2.     Did you forget to ask for an exclusive so competitors can’t open in your retail center?

3.     Did you forget to ask for a cap on CAM?

4.     Did you forget to ask for a kick-out if your sales are below projection?

5.     Did you forget to ask for lease options to extend your lease past the original term?

6.     Did you forget to ask nearby landlords of fully leased centers about forthcoming lease expirations?

7.      Did you forget to ask for the right of first refusal to expand into the adjacent space alongside yours?

8.     Did you forget to ask to delete landlord mandated advertising requirement?

9.     Did you forget to ask for a reduction in dollars in your personal guarantee provision?

10.   Did you forget to ask for a 30–60-day loan closing provision in case your financing wasn’t complete?

11.   Did you forget to ask for a contingency in case your new anchor doesn’t open?

12.   Did you forget to ask for a continency in case your existing anchor closes?

13.   Did you forget to ask for CAM to be based on leasable area not leased area which would skyrocket CAM costs?

14.   Did you forget to ask for the square footage of your shopping center, so CAM is computed properly?   

15.   Did you forget to ask for enough build out time to ensure you don’t pay “dead rent?

16.   Did you forget to ask for enough build-out time to ensure you maximize “free rent?

17.    Did you forget to ask for demographic analysis reports around your top three sites for comparison?

18.   Did you forget to ask for an attorney to review your lease that specializes in Retail Leases?

19.   Did you forget to ask for lease comments when the landlord generated your lease?

20.   Did you forget to ask for a site plan to be included in your lease to ensure the center layout won’t change?

21.   Did you forget to ask for a formal letter of turnover when landlord work complete that establishes RCD?

22.   Did you forget to ask for a contractor to inspect landlord’s work prior to accepting turnover?

23.   Did you forget to ask for a site inspection, with the contractor, prior to signing the lease?

24.   Did you forget to ask for an expanded protected territory from your franchisor?

25.   Did you forget to ask for the radius restriction provision to be deleted from your lease?

26.   Did you forget to ask for an artificial breakpoint impacting your percentage rent provision?

27.    Did you forget to ask for a confirmed turnover date in your lease from the landlord?

28.   Did you forget to ask for changes to the landlord generated LOI?

29.   Did you forget to ask for time to evaluate other centers prior to exercising your lease option?

30.   Did you forget to ask about the master sign program in your center will conflict with your brand colors?

31.   Did you forget to ask why you must report your monthly sales to your landlord?

32.   Did you forget to ask about an operating contingency clause, based on leased spaces in your center?

33.   Did you forget to ask to delete the landlords mandated relocation clause in the lease?

34.   Did you forget to ask how your downtime will be compensated when you endure that relocation?

35.   Did you forget to ask for employee turnover compensation as part of that relocation?

36.   Did you forget to ask how to challenge an annual reconciliation statement bill?

37.    Did you forget to ask what charges can be included in CAM?

38.   Did you forget to ask what the demographic profile is within your immediate trade area?

39.   Did you forget to ask if a more desirable shopping center location is available?

40.   Did you forget to ask if your broker specializes in commercial leasing vs. residential, office or industrial?

41.    Did you forget to ask if the endcap can accommodate a drive-thru?

42.   Did you forget to ask if the landlord can provide you a tenant allowance to help build out your space?

43.   Did you forget to ask if the parking spaces directly in front of your storefront can be assigned only to you?

44.   Did you forget to ask for rent abatement if construction within your center impacts your business?

45.   Did you forget to ask if your center is on the AM or PM side of the traffic flow?

46.   Did you forget to ask if your shopping center access is right in/right out or full access?

47.    Did you forget to ask if the nearby shopping centers generate more traffic and higher gross sales?

48.   Did you forget to ask if that tree blocking your sign band over your storefront can be replaced by low bushes?

49.   Did you forget to ask if the broker knows of any future competition also targeting your trade area?

50.   Did you forget to ask if there is an alternate space with more frontage, and same sq.ft.? (30’ x 60’ vs 20’ x 90’)?

51.    Did you forget to ask if your new space, under construction, was going to have a row of columns throughout?

52.   Did you forget to ask for a landlord penalty clause in case they are delayed in space turnover to tenant?

53.   Did you forget to ask for hours of operation in your center to ensure they match the hours you want to be open?

54.   Did you forget to ask what the gas, electric and water service specs are to ensure they match your needs?

55.   Did you forget to ask for a lower rent during the LOI negotiations before you agree to final base rent?

56.   Did you forget to ask who the previous tenant was so there is no contamination or hazardous material issues?

57.    Did you forget to ask for the landlord to provide a vanilla shell when they offered a grey shell?

58.   Did you forget to ask for a permit contingency in case the city is delayed in approving your construction permit?

59.   Did you forget to ask for the landlord to demo the previous tenant’s obsolete fixtures at their expense?

60.   Did you forget to ask the new ceiling height to ensure your wall fixtures will fit?

61.   Did you forget to ask when the existing HVAC was last serviced before you accepted turnover?

62.   Did you forget to ask how old the existing HVAC is before you signed your lease?

63.   Did you forget to ask if any warranties or guarantees on landlord supplied equipment will be transferred to you?

64.   Did you forget to ask for a Certificate of Occupancy Contingency to postpone your RCD if you can’t open?

65.   Did you forget to ask for a liquor license contingency in case the city holds up your permit for sale of alcohol?

66.   Did you forget to ask what can be done if the landlord doesn’t complete his build-out prior to turnover?

67.    Did you forget to ask for all the contact information to reach the landlords maintenance team if your roof leaks?

68.   Did you forget to ask if the center is in compliance with all ADA requirements including ramps and curb-cuts?

69.   Did you forget to ask if your space is in compliance with all ADA requirements, especially the bathrooms?

70.   Did you forget to ask for a fixed base rent for each lease term with no CPI escalator?

71.   Did you forget to ask what positive conditions in your space and center are “grandfathered” in?

72.   Did you forget to ask for a fair Option Notification Date deadline in your LOI negotiation?

73.   Did you forget to ask for the largest panel on the pylon or monument sign?

74.   Did you forget to ask for Right of First Refusal, for the next sign panel if all panels are currently occupied?

75.   Did you forget to ask if clauses in your Franchise Disclosure Document (FDD) can be renegotiated?

76.   Did you forget to ask for a higher tenant allowance than was offered?

77.    Did you forget to ask for additional tenant options that only are to the tenants’ benefit?

78.   Did you forget to ask for additional build-out time before your rent commencement date (RCD)?

79.   Did you forget to ask for a rent postponement if you missed your RCD?

80.   Did you forget to ask your architect to start preparing plans once your LOI was fully executed?

81.   Did you forget to ask if your desired location had any future road construction planned in front of your location?

82.   Did you forget to ask if a smaller space is coming available if the space being offered is a tad too big?

83.   Did you forget to ask if a bigger space is coming available if the space being offered is a tad too small?

84.   Did you forget to ask for fixed option rents instead of an option based on market rates?

85.   Did you forget to ask to renegotiate your option instead of just exercising it?

86.   Did you forget to ask for a use restriction to restrict gyms or theatres which will use hundreds of parking spaces?

87.    Did you forget to ask for utilities to be stubbed into your space rather than the building or the parcel to save $?

88.   Did you forget to ask if you, the tenant, could draft the first LOI to include all your most important provisions?

89.   Did you forget to ask for a free rent period of 3-6 months after you open before you have to start paying rent?

90.   Did you forget to ask to have the percentage rent provision in the lease deleted?

91.   Did you forget to ask your broker if an alternate center or location had higher traffic counts?

92.   Did you forget to ask for the right to terminate your lease if the entire business failed?

93.   Did you forget to ask for a rent reduction if sales didn’t build as initially projected?

94.   Did you forget to ask if another business, like yours, was ever open in the center and what their sales were?

95.   Did you forget to ask to delete the landlord’s relocation clause?

96.   Did you forget to ask to generate at least three LOI’s to compare landlord responses to your proposed tenancy?

97.    Did you forget to ask when the lease would be forthcoming after you signed the LOI?

98.   Did you forget to ask how soon the landlord would start their work after you signed your lease?

99.   Did you forget to ask, to check, how many other franchise locations failed in this trade area, if any?

100. Did you forget to ask the broker for quality contractor referrals to bid your build-out/construction costs?

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