Tenant representation

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Are you looking for a new location to expand your business activities? Do you think the rent you’re paying is too high? Do you need to negotiate better lease terms with your landlord? Are you not sure whether you should relocate? Do you want to operate a more cost-efficient distribution network? We are here to advise you. Our experienced team will use its profound knowledge of the Hungarian industrial real estate market to represent your best interest. JLL is ready to analyse your current needs, available options (risks & costs) and help you design the project strategy. You’ll get not only a comprehensive (yet concise) market overview of facilities matching your criteria but also an in-depth financial analysis. Creating competitive environment to reach the best terms of your lease, we actively support, conduct or act solely on tenants’ behalf in ‘tenant-landlord’ negotiations. The scope of our “t-rep service” also covers providing legal advice by our partner companies. "In cooperation with our Project Management Team, we provide our clients with an analysis of technical aspects, building standards, designs, space-plans and supervisory service (whether you decide for new development, built-to-suit solution or refurbishment)" .


The following scheme shows the standard procedure of our tenant representation service:

 

Request for Proposal

Having selected your preferred list of developers, we will send a request for quotation to all of them. The bids will then be analyzed and compared in terms of compliance with your requirements. This is also the right time for us to arrange viewings so that you can assess all the properties of interest in person.

Bid Analysis

At this stage, further analysis of the bids submitted by developers is carried out. A detailed comparison of commercial and technical terms helps you and us to prepare for initial meetings with developers. We will present you with an overview of the bidders with an assessment of their potential. You will then have the opportunity to meet the property owners, discuss the proposals and get answers to additional questions to clarify any doubts.

Negotiations

Negotiation is a critical element of the whole process. After the initial analysis of the bids and first meetings with developers, modified requirements of our client and issues arising in the course of the process are included into the original request for proposal, and submitted to the landlord. Upon receipt of the updated proposals, meetings with the selected bidders are held and terms of lease will be negotiated. After the negotiations, two or three best proposals are shortlisted.

Recommendation of JLL

With negotiations finished, Jones Lang LaSalle experts will analyze the best lease terms and deliver the final recommendation containing a summary of the previous actions, the best solution including its justification and, importantly, an alternative solution. Then, we will outline the strategy for final negotiations.

Letter of Intent

After the recommendation, final negotiations with the selected partner take place. It is extremely important to have a back-up plan in case of unforeseen circumstances. The letter of intent with negotiated commercial and technical terms is now ready for signature of both parties. Despite the letter of intent is not legally binding, we strongly recommend it for various reasons.

Lease Agreement

The last stage involves agreement on the terms of lease which will be included in the lease contract. Lawyers of both parties will work on particular provisions until they reach the final version, satisfactory for the tenant and the landlord.

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