In this 5 part series, I will discuss fundamental negotiating basics every tenant should know to help mitigate risks and reduce costs when negotiating their commercial lease.
PART 1: Define Your Needs and Keep It Simple
The number one reason that the commercial leasing process becomes complicated is that expectations are not managed properly.
Define your needs: the location, timing, moving costs, new furniture costs, rental budget. Based on this established criteria, find a competent commercial real estate agent to begin the process.
A knowledgeable commercial agent will ensure the established criteria are realistic and will properly manage your expectations.
During commercial lease negotiations, issues will almost always arise that will turn a two-month process into a four-month process. The key to minimizing these issues is by establishing realistic criteria and managing expectations.