Business Needing More Space?

When your business is growing one of the first things that is likely to come to mind is the need to acquire more space.

Whenever you look at increasing the size of your business footprint it's important to carefully evaluate your true requirements, carefully plan your next move, and understand the potential ramifications.

As we've worked with entrepreneurs we've frequently seen that business location details have been all to quickly glossed over - thinking that everything will simply fall into place. As has often been said: "A failure to plan is planning to fail." Failure is not something that any business owner intends, but unfortunately it happens all too frequently. Having the input of business professionals can save you a tremendous amount of potential grief, disappointment and oh yes ... potential loss of profit for your bottom line! 

With some helpful advice, here once again are a couple of "FREE" tips from our friends, Dale Willerton and Jeff Grandfield with The Lease Coach.

Thank you Dale and Jeff.

Negotiating Commercial Leases & Renewals FOR DUMMIES

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate.

As explained in our new book, Negotiating Commercial Leases & Renewals FOR DUMMIES (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Apply Deposit to Future Rent: Frequently you will be told that the deposit you pay is your first and last month’s rent. The Lease Coach can often negotiate for it to be the first and second month’s rent or to even have it applied to month 24 of the lease agreement. There is simply no reason for you not to have your deposit reduced or eliminated as the so-called risk factor decreases. Landlords do not hold the deposit money in a separate trust account or pay interest so negotiate hard on this condition.

Read the Demolition Clause: Almost every lease agreement requires the tenant to restore the leased premises back to the original condition when the tenant moves out. This demolition could cost you thousands of dollars. Wording in these clauses is usually pretty tricky so be aware of the danger. There is also a demolition clause whereby a landlord can tear down the building and construct a new building on the same site. This is dangerous – especially with respect to older buildings.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to JeffGrandfield@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals FOR DUMMIES (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com  or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

                                                

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IF it wasn't within the last 9 months ... let's take a look at it together!

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