Why can’t I contact the landlord directly?
SITR works as an intermediary between the property representatives and our clients. We are translators for two industries that communicate differently and with our transactional support, both landlords and clients are able to work together for a frictionless execution of their rental. We assure the landlord that SITR will not be a strain on their resources. Also, because Landlords focus on long-term leasing goals, we assure them that SITR will not be a strain on their resources and distract them with short-term deals.
How do I know if I need a permit? How do I know what permit to get? And how do I file for permits?
SITR has permitting experts within each city we operate in and our team can advise when you will need permits, then file for those permits on your behalf to allow for a smoother transaction. We’re here to help.
Why do you need so many details about my booking before even seeing the space?
As a result of working with real estate properties, that are several variables that SITR tries to minimize and protect its clients from. We pride ourselves in being masters at property matching but, like finding your soul mate, we want to be sure we know all of your must-haves and pain points to be sure we get it right. The more information we have up front, the less likely clients are to waste their time with listings that don’t fit their needs.
Why is it mandatory for me to provide so much information about my booking after signing my contract i.e. my list of vendors, my guest list, and my run of show?
We request these details after contract signing because again, real estate properties are not event venues and can’t be treated as such. This means we have to provide the property representatives with all the information they need so they can be a part of your rental’s success.
Is it mandatory for me to use your vendors?
You are only required to use union staff in buildings that mandate us to use that labor. Otherwise, you can use any vendor you wish so long as they meet that property’s requirements for insurance, etc. However, we do encourage our clients to work with our vendors because they have unique experience with short-term users and offer discounted rates based on their relationship with SITR.
What’s a COI and why do I need one?
C.O.I. stands for Certificate of Insurance. A certificate of insurance is a document issued by an insurance company/broker that is used to verify the existence of insurance coverage under specific conditions granted to listed individuals. This protects the landlord and his/her property from excessive damage. We can provide insurance brokers that can grant you anything from 1-day to a full year policy.
What is a Venue Manager and why do I need one?
Venue Managers are SITR representatives on the property with you during your rental. They have been trained to work within the property you’ve rented and are there to provide you with assistance in communicating your onsite needs to the property representatives. They are mandatory.
What are incidental costs? When might I expect to be charged for these?
Incidental costs are hard costs outside of the property rental fee. In some instances, certain hard costs are included in the property rental fee as one lump sum and in other cases, they are line itemized in addition to your property rental fee. These include but are not limited to cleaning, garbage removal, and HVAC.
When I go through the check-out process, is my space confirmed?
After quick approval from your property of choice, our booking engine automatically populates a comprehensive contract with your needs. After you review and accept the contract and complete the checkout process, the landlord gives final confirmation. Once confirmed, you receive your exhibits to sign and officially reserve the space for your requested dates.
When will I receive my security deposit back?
We return your security deposit after a post-rental evaluation has been done on the property to assess damages. This can be anywhere from 5 to 30 days after the last day of your rental, depending on the property.
How are brokers compensated for referring properties or clients to SITR? Is it the same percentage as a long-term deal?
SITR is not a licensed broker, therefore we’re not able to pay a set commission similar to long-term deals. Space in the Raw has a Loyalty and Rewards program structured specifically for brokers that offers $250-$1000 American Express gift cards and SITR Loyalty points that can be exchanged for concert tickets, dinners, and gaming outings.
What’s the financial compensation for landlords when their space is rented through SITR’s website?
SITR provides landlords with 75% of the total rental fee for each transaction contracted for their space.
How are rental fees calculated for each space?
Rental fee calculations are based on the following factors: 1) Current price per square foot 2) neighborhood 3) Extent of renovations required by clients 4) Incidental costs such as HVAC, building staff, venue manager etc.
My security deposits range depending on the rental and the likelihood my space will be damaged.
Deposits range anywhere from 35% to 75% of the rental fee. You can start at 50% as your default with the option to increase or decrease as you wish.
What if I don’t want to provide general pricing details and prefer to price out each deal, on a case by case basis?
Our clients require certain information up front before considering a space and of course having an idea of costs is definitely a factor in their decision. In order for your property to be listed on our site, we will require pricing information (including a percentage for security deposit) that the client can use as a gauge. In order to expedite the booking process for all parties involved, we no longer negotiate every single deal individually.
Will working with SITR be a strain on my property’s resources?
Our efficient and proprietary “on-boarding” process allows us to fully understand your requirements and the property’s regulations. This is the most strenuous part of working with us and it lasts a few days while we get all the information we need. From there, we’re good to operate on our own.
Will working with SITR keep landlords/brokers from reaching my eventual goal of leasing my property long-term?
During our on-boarding process, landlords or brokers provide us with the lead time they’re comfortable with and we only allow the property to be booked within that window.
Can landlords and brokers still show the space while it’s being rented to a client?
Most certainly! We just ask that you give us a 24-hour warning so we can let our client know and of course, we ask that you avoid showing the space during “blackout” dates set by our client.
What happens if someone damages the property?
We require a mandatory venue manager on your property any time the client or their vendors are in your space. This is to minimize the probability that your space will be damaged. In the case where your space suffers damages, we employ 3 strategies to ensure you’re covered:
- We require our clients pay a security deposit with all our bookings. This amount varies and can be used to cover damages
- We require a credit card authorization form with all signed contracts in case the damages go beyond the security deposit
- We require the client and all of its vendors to provide a Certificate of Insurance adding you and all your affiliates as additionally insured
Can landlords decide what bookings they will allow in their property?
Absolutely! We can do that one of two ways. One way is you can tell us beforehand what bookings you absolutely have no interest in hosting. Or you can deny the booking when you receive a request for a visit which will include a full scope of the booking.
Why is the on-boarding process so detailed? Can’t SITR bring landlords a lead first and get the information they need about the property?
We cannot present a space to a client until we understand all of the landlord’s and building’s requirements.