Breaking down the buzzwords
In any industry, buzzwords go in and out of fashion, and commercial real estate is no exception. This can be a problem because the more we hear a word or phrase, the less we stop to think about what it means. That’s why over using industry-specific jargon can sometimes retract rather than add to the service tenant reps are trying to provide. TRS is dedicated to offering a sincere and committed service without getting caught up in the hype. That’s why we’ve prepared list of a few of the popular buzzwords, and what they really mean to TRS and to you as the tenant.
The more we hear a word or phrase, the less we stop to think about what it means.
1. Stay Versus Go
This simply means that time in every company’s life when the lease is up for expiry and you need to make the decision, do I stay where I am, or do I try to find somewhere better? When reviewing the option to stay, it is important to weigh up the cost and time it would take to move against the benefits of a new location and direct lease. At TRS, we make that decision easier by having expert market knowledge to help you make the right decision every time.
Fitting out is the process of taking a newly leased property and constructing the interior to meet the company’s needs. This can be as simple as a new coat of paint or as complicated as new walls, floor finishes and fixtures. When it comes time to fit-out your new space, TRS has expert knowledge and contacts to ensure it is an efficient and cost effective experience. We will also be able to tell you ways in which you can minimise the impact of the fit-out on the base building, which will save on “Make Good” costs further down the track.
3. Make Good
Make Good is a vital part of the relocation process for every business. When a lease expires, the business usually has an obligation to return the premises to the same condition that it was in when the lease began. This can include dismantling the fit-out and TRS can negotiate this process. With TRS you will be up and running in your new location on time and on budget.