Over the years we have built a valuable storehouse of valuable information to help commercial real estate tenants deal with the complex ins and outs of planning, implementing and most of all, managing their firm’s real estate holdings.
This information has been distributed first through “snail mail” then fax eventually by e-mail and finally as WEB postings on our home page www.inhousecorp.com. The Tenant Tactics along with the WEB site link to “Tenant University” has become a useful resource for tenants, students of real estate and even landlords who reference the site to better understand what tenants are thinking, needing and expecting in order to best serve their tenants. However, the goal remains how to better educate tenants on dealing with the complexities of managing the number two line item of most firm;s budget.
We hope you enjoy this format and that the information we provide continues to be valuable to you. Feel free to contact me at firstname.lastname@example.org or comment to our new blog.
Our initial motivation both for creating the unique business model for IN/House and eventually publishing the Tenant Tactics came from reviewing the results of a joint study done in 1993 by the UCI Graduate School of Business Management and Marcus and Millichap Corporate Real Estate Advisors. The study clearly found that most all firms without full-time in-house real estate departments left the real estate matters to someone who often had little formal real estate training or if they did, they typically had other corporate responsibilities that to often took them away from focusing of the issues at hand. Brokers were simply reviewed as tour guides to find space and negotiate basic terms. Firms were left to plan their needs, deal with all the other issues attached to facility transactions and most critical, deal with administrative issues during occupancy.
Taking the basic model developed by the in-house real estate departments of Fortune 100 companies, we created a model whereas we would function as our clients’ real estate department, addressing all issues from creating a strategic facility plan, handling all aspects of a potential transaction and being there on call after the transaction is completed to assist when any issues come up. Fees are paid as commissions for the transaction. Although paid by the landlord or through escrow in reality it is the Tenant/Buyer’s money so why not get value for your payment? Fees re receive are viewed as a retainer for services over the term of occupancy rather than a one-time bonus for completing a transaction.