Given the total business cost combined with the complexity of commercial leases (many can exceed 40 pages), leasing commercial space can seem like a very daunting task.
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 2: Consider Your Negotiating Power
The amount of negotiating leverage for tenants, both large and small, is highly dependent on situational circumstances. The leasing process can get quite complicated very quickly when tenants don’t have a clear understanding of their value to a particular landlord.
As an example, a tenant negotiating for 1,000 sq.ft. in a 250,000 sq.ft. building may not have a ton of negotiating leverage. Having a thorough understanding of your negotiating power can go a long way towards facilitating a seamless commercial lease transaction.