By AUSPL Board Member John Heeren
It’s important when dealing with the USPS or CBRE for lease renewals that you use simple and professional techniques to protect yourself and your investments. Here are a few really easy steps you can take for a successful lease extension.
1. Measure Your Building: Often when we measure the actual square footage of the building, we come up with slightly larger building sizes than those listed by the USPS in the lease. They may say the building is 4,000 square feet, but a measurement of the actual dimensions may be 44′ x 109′ = 4,796 square feet. Once a square foot amount is agreed to, let the USPS know that you have measured the building and your square footage differs with their lease square footage. It may provide an advantage for you in securing an increased annual lease rate.
2. Always Initial Lease Pages: Whenever signing a lease document, it is important that you initial each page of the lease when signing. This prevents the USPS from changing or adding pages to the lease when they sign and assures that the documents you receive are the same ones you approved and signed. This is a straightforward technique used by tenants and landlords.
3. Request Time Limits: When accepting a proposal for a new lease rate and terms, write in an asterisk above your signature stating you agree to the terms, provided the lease amendment or renewal is fully executed within 30 days. This can eliminate the anxiety of waiting for 2, 3 or even 4 months to get your signed paperwork back from the USPS. We have been experiencing very long delays from the agreement date to the receipt of the signed lease documents and you have the right to insert a provision to expedite the new lease agreement.
Using these three simple steps can safeguard and streamline your lease negotiations. It also sends a message that you are a landlord who is paying attention.