Landlord services
Anybody can find a tenant. Finding one who pays for five years, at a rate that holds, under a lease that does not quietly transfer your building’s capital costs to you — that is the job.
What we do
What the space will actually lease for, based on closed comparables and the concession packages inside them — not the asking rates on a marketplace. If your number is wrong we will say so before we take the listing, not six months into it.
Professional photography, a proper flyer, the MLS where applicable, LoopNet and Crexi where the tenant is likely to look, direct canvassing of the businesses that belong in your building, and a Bedford sign that is actually legible from the road.
Financial statements, tax returns, bank references and a personal guaranty where the covenant needs one. The cheapest tenant is the one who pays for five years; the most expensive is the one you have to evict in month eight.
Free rent and tenant-improvement allowance are cash. We show you the effective rate net of concessions across the term so you can compare two proposals that are not comparable on their face.
A diary of every commencement, escalation, option and notice deadline in your building, so an option is never exercised by silence and an escalation is never missed.
The conversation starts twelve months out, not sixty days. A renewal you plan is worth more than a vacancy you fill — the downtime, the leasing commission and the fit-out on a replacement tenant routinely exceed the rent you were arguing about.
Vacancy arithmetic
On a 5,000 square foot suite at $16 NNN, a month of vacancy is about $6,700 of rent — but the real cost includes the operating expenses you now pay yourself, the utilities on an empty space, and the insurance surcharge many carriers apply once a commercial building has been unoccupied for 30 to 60 days.
That last one surprises owners every year. A standard commercial property policy contains a vacancy clause that suspends coverage for vandalism, glass and water damage once the building has been empty past the threshold. A vacant-property policy is a different product.
Powered by Continental Brokers Inc.
Most commercial property policies suspend key coverages once a building has been unoccupied for 30 or 60 consecutive days. Continental Brokers writes vacant-building cover that actually responds.
Powered by Continental Brokers Inc.. Bedford Realty is not an insurance agency.
Insurance products are offered and placed by Continental Brokers Inc., an independent insurance agency. Bedford Realty, LLC is not an insurance agency, does not sell insurance, and receives no commission on policies placed. Coverage is subject to underwriting approval, policy terms, conditions and exclusions.
Owners
Tell us the building, the space available and what you are asking today. You will get back a rate opinion with the comparables attached, a marketing plan, and the fee structure in writing — before anybody asks you to sign anything.
FAQ
Commercial leasing commissions in this market are typically a percentage of the total lease consideration, or a per-square-foot fee, and are negotiable. We put the number, the term and the co-broke split in the listing agreement in plain language before you sign. If a broker will not state their fee structure before the listing appointment, that is information.
No. We quote leasing and management separately on purpose, so you can judge each one on its merits and take one without the other.
Six to twelve months for most commercial space. Shorter than six and you are re-signing before the marketing has run; longer than twelve with no traction and the problem is the price or the space, not the term.
Yes, and we would rather do it at the listing appointment. A building that sits on the market for a year at the wrong rate loses more than the difference — prospects who saw it at the wrong price rarely come back when it drops.
For a young business or a thin balance sheet, a personal guaranty — sometimes burning off after two or three years of clean payment — is often the difference between a lease you can finance against and one you cannot. Your lender will ask about it.
