If your company is needing office space but you don’t want to invest in a permanent property, the ideal solution would be to rent a commercial property or lease retail space. While the location is going to be a strong factor in where you want to be, you need to make sure your new location is going to be budget-friendly. Here’s how to negotiate the best lease for your business.
1. Determine Your Priorities Establish your budget and the things that must absolutely be included in the price. You may have some wants but first, prioritize the needs. 2. Use a Professional If you use a lawyer or an agent, they may be able to help with the negotiations for a better lease. Agents are the experts and can point out the clauses or items you may have not seen. 3. Keep Your Options Open If you want to lease retail space, you should always negotiate with the upper hand. It is acceptable to open negotiations on more than one property since you have the freedom to walk away from either of them. 4. Start With a Counter Don’t ever just pay the base asking price. Open up negations from the start with a counter on what you are willing to pay. It could start at 10-15% below asking. You can get the leased space you need at a price you want to pay if you know how to negotiate. Saving money on expenses helps improve your financials down the road.
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AuthorHello, my name is Roger Dennison and I'm a successful commercial real estate broker, with more than 20 years in the field. Archives
January 2023
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