Sunday, August 14, 2016

Commercial Leasing Tips for Commercial Tenants

Location can be a 'Key to Success' with many business concepts. 

While with others ... they seem to be able to thrive almost anywhere - just like this Dandelion we found growing from a crack in a well-worn railway tie.

When it comes to finding the right location for your business, we'd encourage you to think about what will be best for your customers. Where would your customers expect to find you? If it's important for your customers to come to you, your decision on a location can 'make or break' your business. And when you've found that 'perfect location', work diligently to secure it on terms that are in your best interests. Getting some assistance from professionals who've helped other entrepreneurs can save you both time and money. 

Here with some more timely commercial leasing tips are our friends from The Lease Coach!  Thank you Dale Willerton and Jeff Grandfield for sharing these helpful tips for our "Business Success" audience!

Dale Willerton

Jeff Grandfield















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: 

Be Pleasantly Assertive … Not Passive: If you don’t take control of the situation, the leasing agent will. If you see a property you would like more information on, call the agent and ask him/her to e-mail you the site plan and related details. Don’t drop what you are doing and run over to the site for a meeting. For the first meeting, have the agent come to you at your place of business. If you like what you hear then, you can schedule to meet at the site a few days later. Try to set viewing times convenient for you … remember that you are the customer. 

Location, Location, Location: For most retailers, selecting the right property is critical enough, but leasing the right location within that building can be even more important to your success. On the other hand, most office-type and industrial tenants do not rely as heavily on location to produce business. Proper site selection takes time and objective consideration. Remember that your location is the most difficult part of any lease agreement to change after you open for business. 

Negotiate for Early Occupancy: If your commencement date is June 1st, but you are ready to open your new business on May 19th, the landlord doesn’t usually mind (as long as the site isn’t still occupied by another tenant who hasn’t yet moved out). The landlord will, however, expect you to pay rent for the early occupancy period. By negotiating for rent free early occupancy, you can make money – depending on how you look at it. Whether it’s a few days or a few weeks, you win! 

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.

What's been your experience?
Feel free to add your comments and thank you in advance  
for sharing this post with those in your circle of contacts!


                                                                                          

QUESTION: Would having a BUSINESS COACH and MENTOR be Helpful to You?
 IF the ANSWER is YES ... Take a look at our "NEXT Steps Program!

If you're looking for flexible and cost-effective Business Coaching & Mentoring, you'll like our “NEXT Steps - Program”. It's been designed with you in mind, and provides 12 months of valuable assistance that designed to fit your busy schedule!

For more information see:

"Option 3 – “PVS – NEXT Steps - Business Coaching & Mentoring Program”

It's listed on our Website Registration page:

CLICK HERE