There are many things that can enter into the decision-making process as I've discovered from some of the experienced professionals with The Lease Coach.
Pro-Vision Solutions Inc. is very pleased to provide you with the following tips and suggestions from The Lease Coach, and look forward to future contributions for our audience.
Thank you for sharing these very helpful things for our Business Success audience!
Negotiating Commercial Leases & Renewals For Dummies
Negotiate to Win: All too frequently, tenants enter into lease negotiations unprepared and do not even try winning the negotiations. Often, tenants will set their sights on just striking a fair deal – this usually plays right into the leasing agent’s hand as he is most certainly negotiating to win the best deal for his boss … the landlord. If you’re not negotiating to win, you won’t. Negotiate assertively!
Be Prepared to Walk Away: Try to set aside your emotions and make objective decisions. Whoever most needs to make a lease deal will give up the most concessions. A good business in a poor location will become a poor business.
Ask the Right Questions: Gathering information about what other tenants are paying for rent or what incentives they received will position you to get a better deal. Consider that your landlord and his agent know what every other tenant in the property is paying in rent, so you must do your homework too.
Broker … Friend or Foe? Real estate agents and brokers typically work for the landlord who is paying their commission. It is not normally the agent`s role to get the tenant the best deal – it is their job to get the landlord the highest rent, the biggest deposit, etc. The higher the rent you pay, the more commission the agent earns. If you are researching multiple properties, try to deal directly with the listing agent for each property, rather than letting one agent show you around or show you another agent`s listing. Your tenancy is more desirable to the listing agent if he can avoid commission-splitting with other agents.
* Have you included your business location plans into your Business PLAN?
TIP: Pro-Vision Solutions Inc. can help you with that!
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