Featured News 2013 Negotiating Your Commercial Real Estate Lease

Negotiating Your Commercial Real Estate Lease

If you own a business, big or small, you know how important it is to get the best deal on your leases for the commercial property. Perhaps you are weighing the options for expanding the business or moving locations entirely? Whatever the situation may be, you want to find the best rates and the best location possible, though often it is hard to find those deals that go hand in hand. For some, you will choose the cheaper property and yet risk the location you were hoping for, and for others you will decide to pay the higher price in the nicer neighborhood and risk the possibility of not making the payments.

What if it didn't have to be either extreme? What if there was a way to negotiate the leasing options without running your head into the ground? While there is never a guarantee for anything you will decide to pay the higher price in the nicer neighborhood and risk the possibility of not making the payments. What if it didn't have to be either extreme? What if there was a way to negotiate the leasing options without running your head into the ground? While there is never a guarantee for anything, here are a few tips to consider when negotiating your commercial real estate lease in the future.

First and foremost, hire a real estate attorney. When you are dealing with a commercial property, no matter the size you want to make sure you have someone who will look out for your every legal move. Whether this means helping you with the negotiating process, evaluating every contract before signing, etc. they will help ensure that you are not caught by surprise by anything during the process. A real estate attorney is a highly qualified professional with experience not only in the matters of law, but also in business and real estate. Contact one immediately before beginning the process!

Research, research. research. By doing your homework, you will have the best idea of what the going rates are for the location that you are on the hunt for. By knowing ahead of time, this will also help you negotiate pricing when you are looking at similar properties and locations.

Know what you want. When looking for commercial real estate, there are always a lot of options. These options may not fit all of your wants and needs. A part of buying, or leasing, a property knows what type of space you need for your company, how much parking, and storage, etc. Consider what is essential, and what can be taken out if it means a better deal. This will help you be prepared when you begin looking for the properties.

Find out the total costs. Hearing the price of a lease may sound like a great deal, but there is a chance the total cost additionally includes CAM (Common Area Maintenance), and even things like property taxes, trash collection, utilities, repairs, insurance and the like. You want to make sure you find out exactly what it will cost you before bringing out your pen to sing the lease.

Put it in writing. If you discuss possible terms with your attorney for a property, get it in writing and discuss them over with your attorney. Never sign unless your attorney has done their job and protected your investment and rights. In many cases, when dealing with commercial property the landlords may require a written document of your counter-offer before making the deal official.

Don't be afraid to ask. If there is a concern, don't be afraid to ask who will be responsible for getting it fixed. Even if there is an extra addition that you would like to have included in the lease, go for it. With the harder economic times these days, the tenant may have more bargaining power in a negotiation; especially if the landlord believes it will close the deal.

Whatever the case may be, when dealing with real estate in general, buying personal property or commercial, hiring a real estate attorney is essential! No matter what the situation is, they will ensure that you are not taken advantage of in the process, and help you make the best decision possible for your properties. Whether you need to have them draft a contract or help you before signing one, a real estate attorney is the best move for you to make. Find a trusted and experienced lawyer in your area, and call them today!

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