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State of Tennessee Real Estate Asset Management Division

Asset and Lease Management

Lease Management

Lease Management performs the State's office and warehouse leasing transactions. Typically, space needs are determined in consultation with the requesting agency. An advertisement is placed in a local newspaper (as well as on this web site) to solicit proposals from owners of rental property. Fair market competition is a prime consideration. After analyzing the submitted proposals and visiting proposed sites, the proposal offering the lowest effective cost while meeting agency requirements is usually recommended.

Many lease transactions must be approved by the Commissioner of General Services and by the State Building Commission according to Tennessee Codes Annotated (TCA) 12-2-114.

When a lease is in place, Lease Management continues to manage and monitor rental payments, coordinates any tenant alterations, and handles amendments to leases when necessary.

Follow the link Request for Lease Proposals for information about currently needed lease property.