Finding the right tenant to fill a vacancy is a challenge faced by every landlord. Confirming the credit worthiness and track record of prospective tenants after they have been found eliminates another obstacle to a successful relationship. Due diligence is key for landlords and LCRi attempts to clear such hurdles for its landlord clients prior to any significant investment in time. It is important for landlords to understand that the fees charged on a successful lease-up are split with any co-operating broker who represents a tenant.

There is a process that LCRi employs to secure interest in space for lease. It has multiple steps, but is straightforward and is described in detail below. LCRi has, over the years, developed a long list of clients. References can be provided to landlords upon request.

Landlord Services Offered by London Commercial Realty Inc. (LCRi), with approximate times required

1. Initial Consultation — 3 to 5 hours

• Prepare for initial meeting
• Inspect property and improvements
• Determine if upgrades required, if any
• Establish level of confidentiality
• Explain time frames, forms used, contract involved
• Outline financial capability of tenant

2. Research re: value, highest and best use — 5 to 15+ hours

• Determine facilities offered and availability to tenant
• Check MLS website for recent sales and current listings
• Consult city hall for zoning, services, potential changes
• Consult appraisers, if difficult property
• Connect with other brokers, if assistance needed
• Discuss with client(s)

3. Develop marketing strategy and materials — 10 to 15 hours

• Draw up feature sheet
• Create detailed offering package
• Make list of potential tenants
• Develop list of appropriate agents/brokerages
• Determine advertising strategy, if any
• Determine signage to be used
• Establish frequency of regular client contact

4. Implement marketing plan — ongoing: 5 to 50 hours

5. Showing Property — 1 to 3 hours per inspectio

• Schedule, accommodating four parties
• Manage tour of property
• Post-showing debrief of tenant
• Additional follow-ups with tenant or tenant`s agent
• Report to client(s) after each showing

6. Offer Preparation — 2 to 5+ hours

• Only if LCRi’s tenant customer/client

7. Offer Presentation and Negotiation — 3 to 25+ hours

• Present to LCRi’s client
• Recommend course of action
• Change and re-submit to co-operating broker or tenant
• Repeat cycle if necessary

8. Conditional Period Monitoring — 2 to 6+ hours

• Contact parties, as deadlines require
• Prepare proper documents to remove or extend conditions
• Have necessary documents executed