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 5: Know Why You Need New Space, and Have Fun
There are few tenants who would describe the process of finding and negotiating a new lease as ‘fun’.
Try to look at the process of leasing a new commercial property as a new beginning or fresh start. New premises can be used as a means to save money or motivate employees.
Most likely, tenants will spend as much time in their commercial space as they do at home. When going through the leasing process, keep in mind: can my business thrive here and will the space we occupy become a tool for employee motivation and business success.
PART 2: Consider Your Negotiating Power
PART 4: Need to Have vs. Nice to Have