For companies who do not have the time or resources to maintain and effectively manage their own real estate portfolio, enlisting the help of a real estate provider is a great way to sustain their advantage as a tenant across all of their locations. Companies should search for firms that not only understand their company’s culture and how they generate profits, but can also advise them quickly and efficiently about upcoming issues, expenses and dates relating to their current leases.
Companies who are notified ahead of time that their leases are about to expire are able to thoroughly review their current real estate situation and in turn can strategize about their next approach. They can decide if they want to stay at their current location or if it is time for them to relocate to a new property. If a company chooses to renew their lease, they should then also work with their provider to compile as much information about their current location and market as possible. This will give them leverage when they try to negotiate the best deal available.
Evaluating every real estate opportunity leads to consistent results. Without a uniform strategy, companies are unable to effectively communicate and negotiate with current or potential landlords. Creating a metric system that identifies well in advance how an organization pursues real estate deals is the key to maintaining a consistent portfolio.
For more information about evaluating your company’s portfolio, please visit www.thestonegroupcre.com.
