6 Mistakes To Avoid During Lease Negotiations

#1 Rule: Give Yourself Plenty Of Time, Don’t Procrastinate

• Start no less than 6 months before your lease expires or move in date

• If you plan to renew your lease give yourself time to negotiate a market deal

• A typical lease will take 4 to 6 months to fully execute, build out the space and move in

• If you use a professional, contact them 8-9 months in advance to insure a smooth process

Know The Market

• The landlord knows the market and so should you.

• Whether you hire representation or not, get familiar with the market conditions

• It is hard to negotiate without knowing the current market conditions

Not Creating Leverage Will Cost You Money

• The Landlord’s "Asking Rate" is only a starting point

• Compare competing buildings to find out the "real" market rental rate

• Signing without negotiating will cost you money & put your company at risk

Click Here For Steps To Create Leverage

Do Not Assume The Landlord Has Your Best Interest In Mind

• Landlord representatives are 100% committed to the ownership’s best interest

• Every deal point negotiated by Landlord representative is in the ownership's interest

• The Playing Field Is Not Even, Landlords know the market and so should you.

• Landlord is focused on Profit not a market deal for the tenant

• There is no such thing as a “Standard Lease” or “Standard Language”

If You Don’t Ask You Won’t Receive

• You won’t get what you don’t ask for

• Everything Is Negotiable

• Landlord will not offer anything unless they see a need to help negotiations

• Each tenant’s requirements are different

Not Understanding Lease Terms

• Mitigate risk by having a legal review of your lease

• Caps on reimbursable expenses

• Understand clauses dealing with Default, Sublease, Usage, Renewal, etc.

• Who is responsible for the build out, future repairs, HVAC, etc.

• Do I have to guarantee the lease?  Can the guarantee burn off after 1 year?

• Always have the initial deal points written in a a Letter of Intent.  Verbal promises are not valid.

LeaseWithEase specializes in representing local and regional tenants. Negotiate with confidence while saving your company time and money. If your lease is expiring in the next 6-12 months, the time is now to start your search or lease renewal.

The search is free and quick.

Note: Gross rents will vary from month to month and LeaseWithEase always uses real time data.

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