A request for proposal (RFP) is a formal document a tenant or their broker circulates to multiple landlords, soliciting detailed lease proposals for their specific space requirements. RFPs are most commonly used for larger, more complex requirements where a structured, competitive process helps a tenant efficiently compare multiple options on a consistent basis.
What a thorough RFP typically includes
A well-constructed RFP specifies the tenant's exact requirements — square footage range, clear height, dock ratio, location parameters, target occupancy date, and lease term flexibility — then requests landlords to respond with detailed proposals including rent, TI allowance, and other key terms. This structured approach lets a tenant rep broker efficiently compare responses on a consistent, apples-to-apples basis rather than evaluating disparate marketing materials.
What to watch for before committing
Comprehensive requirement specification
Include all key requirements in the RFP to ensure landlord responses are genuinely comparable and complete.
Realistic response timeline
Set a reasonable but efficient response deadline that gives landlords adequate time while maintaining your search momentum.
Consistent evaluation criteria
Establish clear criteria for evaluating and comparing RFP responses before they come in, to avoid ad hoc decision-making.
Confidentiality considerations
Understand what information about your requirements or identity you're comfortable sharing broadly through the RFP process.
Broker representation in the process
Consider using a tenant rep broker to manage the RFP process, since they can leverage market relationships and negotiate more effectively on your behalf.
Follow-up and clarification process
Establish a clear process for landlords to ask clarifying questions and for you to request additional information after initial responses.
When you need to know this
- Large or complex space requirements — using a structured process to efficiently compare multiple substantial options
- Multi-market site selection — soliciting competitive proposals across several candidate markets or submarkets
- Build-to-suit consideration — gathering detailed proposals from multiple developers for a custom construction project
- Ensuring competitive, comparable offers — creating a level playing field for evaluating multiple landlord responses
Frequently asked questions
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