When to Negotiate a Work Letter
Q: I’m about to start negotiating a lease for office space that will require a substantial buildout by the owner before I move in. To protect myself, I’d like to negotiate a detailed, comprehensive work letter. I understand that some owners wait until the rest of the lease is negotiated before starting work letter negotiations. But I’ve heard nightmare stories of snafus during work letter negotiations that sank entire deals. When should I start negotiating a work letter to avoid wasting time and money like that?