Dale Willerton and Jeff Grandfield
Articles by Dale Willerton and Jeff Grandfield
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When should the commercial lease end?
Wednesday, March 27, 2019Choosing a commencement date for your commercial lease can be easy enough; however, stating a specific expiration date may be more difficult. That's fair enough, as it is impossible to forecast what the future will hold. Will you be successful at your chosen location? Will an anchor store in the commercial property move out and leave you needing to relocate? Will your own health affect your business operations and result in your selling your business? The short answer is for you to choose your lease term's expiration date based on what's best for you and your business.
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Who makes the first offer?
Thursday, March 07, 2019When it comes to commercial leasing, who makes the first offer on a property for lease? The answer might surprise you! We strongly urge commercial tenants to leave that first offer to the agent or the landlord. The reason is simple. Once you have made that first offer, you will have shared your interest in a commercial property. By showing your cards (as you will) to the agent, you will have committed yourself to this commercial leasing deal. Once the agent’s first offer has been made, you have a number of options.
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Negotiating commercial leases: What’s in a name?
Thursday, February 14, 2019For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Reduce your square footage
Friday, January 25, 2019For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Get a document review
Wednesday, January 02, 2019For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Request written proposals
Wednesday, November 28, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Use the franchise advantage
Wednesday, November 14, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Focus on important issues
Friday, October 26, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Subletting your commercial space
Wednesday, October 17, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Don’t forget the parking
Wednesday, October 03, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Renewal rent reductions
Friday, September 21, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Renewal term allowances
Tuesday, August 14, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Put your meeting in writing
Wednesday, August 01, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Keep success quiet
Tuesday, July 03, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Buying a business?
Wednesday, June 20, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Don’t give post-dated checks
Wednesday, June 06, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Anticipate your lease agreement
Wednesday, May 23, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Negotiate for free perks
Thursday, May 10, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are two money-saving tips.
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Negotiating commercial leases: Cap your operating costs
Thursday, April 26, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Give the loser one last chance
Wednesday, April 11, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Beware of the agent’s dual agency
Thursday, March 29, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Make all offers conditional
Wednesday, March 07, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Avoiding letters of credit
Thursday, February 15, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Who should be the tenant?
Wednesday, January 31, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: When should the lease end?
Thursday, January 18, 2018For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Select the best lease length
Wednesday, December 13, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Go slow for a better deal
Wednesday, November 29, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Asking for free rent
Thursday, November 16, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Turnkey construction advice
Thursday, November 02, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Trade free rent for cash
Thursday, October 19, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate. Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, here are three money-saving tips.
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Negotiating commercial leases: Is the asking rent too high?
Thursday, October 05, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Calculating market rents
Thursday, September 07, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Determine your bargaining strength
Thursday, July 27, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Who makes the first offer?
Wednesday, July 12, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Size up your opponent
Tuesday, June 27, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Meet the landlord
Tuesday, June 13, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Location, location, location
Wednesday, May 31, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Ask the right questions
Wednesday, May 17, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Negotiating commercial leases: Don’t telegraph your plans
Thursday, May 04, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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3 easy tips for negotiating commercial leases
Wednesday, April 19, 2017For many commercial tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized salespeople. Their job is to sell tenants on leasing their location at the highest possible rental rate.
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Tenants, beware of landlords with 13-inch rulers
Thursday, March 09, 2017Measure twice so you only pay once. While representing commercial tenants with leasing matters since 1993, we have found that some landlords are overcharging tenants for more square footage than the tenant actually has. As we explain in our book, this is a common discrepancy in the commercial leasing industry. Are you paying for phantom space?
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8 lease warnings for commercial tenants
Thursday, December 08, 2016Opening a business and leasing space from a landlord may feel like a marriage, but it's not. Commercial tenants need to get that notion out of their heads. With commercial leasing, a commercial landlord will have many different partners — even several hundred or thousands of tenants — and many different motivations for the relationship. The tenant, on the other hand, has only one landlord and one motivation for leasing space — as a means to an end to do business.
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Standing in the landlord’s shoes: Seeing yourself as a prospective tenant
Thursday, October 13, 2016Securing a commercial tenancy isn't always an easy process. One big reason is landlords and tenants have different motivations. For landlords, owning commercial property and leasing space to tenants is their primary goal. Tenants, however, want to focus on running a profitable business or providing great service. The property is a place to attract customers to your business — it's not an end unto itself.
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Counteroffering the landlord’s lease-renewal proposal
Wednesday, August 31, 2016You have received your landlord’s lease-renewal proposal, so what is your next step? Your job isn't to simply accept those terms. The proposal is just the beginning. Like a good boxer, commercial tenants need certain character traits to avoid going down in the second or third round. Having the mental stamina, the will and the desire to actually go back and forth with multiple counteroffers is important. Often, a landlord will win a negotiation with a tenant due to greater endurance.
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The importance of time, timelines and timing with your commercial lease
Thursday, July 21, 2016The commercial leasing process can take differing amounts of time, depending on whether you're opening your first or fifth business location. You can discover a lot during your first few lease deals that you can carry forward — potentially saving you both time and money with further leasing projects.
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Parking pitfalls for commercial tenants
Thursday, May 26, 2016Do you have enough parking spaces for your customers, you and your staff? It's a common problem we see with both new and established businesses. Here are a number of factors to consider. First and foremost, what is the availability of parking spaces for your customers? Does it appear that there are there enough stalls for all to use? Where are these parking spaces — in front of, behind or at the side of the building? Stalls located beside or behind the building may not be immediately visible.
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Can you negotiate free commercial rent? Yes
Wednesday, April 20, 2016Free rent is just one negotiable factor among many in a commercial lease. Even if you did not receive a rent-free period when you signed your first lease, you may be eligible for one when you renew (although you may have to work harder to get free rent on a renewal).
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Understanding the significance of signage
Monday, March 21, 2016Entrepreneurs can't just open a location and expect customers to beat a path to their door. Those customers need to be able to find them. One of the easiest methods to ensure your business is conspicuous is by means of signage. While you may envision a large sign prominently identifying your place of business, don't assume your landlord will agree. Commercial landlords may, in fact, prefer to decrease your amount of signage and will often reject tenant requests for more or larger signage.
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Leasing tips, tactics and strategies for commercial tenants
Tuesday, February 23, 2016When looking to lease commercial property, it's crucial to do your research on location, size and cost, among other factors. Once you've found a place that fits your business, however, you must begin negotiating a contract with the landlord. Here are several tips and strategies to help.
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Pros and cons of preleasing undeveloped commercial property
Friday, January 08, 2016As either a new or existing commercial tenant, you may be tempted to prelease undeveloped property (to open a new store or move your business to). This is potentially the most unpredictable lease agreement into which a tenant can enter.
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Tips for negotiating renewal-option clauses
Thursday, October 15, 2015The renewal-option clause in a lease is there for the sole benefit of the tenant. Essentially, its purpose is to ensure that you're allowed to lease your commercial space for another lease term — providing you meet the predetermined conditions in the lease agreement.
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Dealing with deposits for commercial tenants
Wednesday, August 12, 2015Although landlords often ask for security deposits on commercial leases, such deposits aren't legally required. In fact, you can often negotiate them. Unfortunately, too many tenants don't know that and willingly pay the deposit, without negotiating the amount or the terms.
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5 warnings no one ever tells commercial tenants
Thursday, July 30, 2015Dealing with landlords and their representatives can be challenging at any time, but when you're a novice or emotionally or financially attached to the deal — as many tenants understandably are — the entire leasing process becomes much more difficult. You may well have some preconceived notions about commercial leasing. However, you should be mindful of numerous issues.
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Figuring out where your business will thrive, not just survive
Thursday, July 02, 2015The commercial leasing and site-selection process is not easy or even enjoyable for most tenants. But predicable results can be achieved with some professional help and a proper game plan. The core reason why commercial tenants struggle with and fail to lease the optimum site for their business is simply the lack of knowledge that comes from insufficient experience. If you combine that with impatience, you've got a disaster in the making.
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Selecting the right professional to help you, the tenant
Thursday, June 18, 2015The difference between success and failure in a business can easily come down to your location and lease terms. But if you’re not an experienced and savvy negotiator, you may not stand a chance against the landlord or his real estate agent. Bringing in someone who will either go to bat for you or even take the whole negotiating process off of your shoulders can save you money in the long run. There are options available, and it is vital that you understand them.
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Debunking these 4 lease-renewal myths
Tuesday, June 02, 2015Considering the average commercial tenant only negotiates a couple of leases in his or her lifetime (and sometimes with the same landlord), it's easy to understand how leasing myths can persist. Occasionally, the landlord creates and propagates these myths, but real estate professionals looking to serve their own interests are also guilty of embellishing the truth.
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Pros and cons of buying vs. leasing commercial property
Wednesday, May 13, 2015The most common reason tenants lease space instead of buying a location is because 95 percent of all commercial, retail and office space is for lease and not for sale. Commercial landlords prefer to have long-term rent-paying tenants.
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What type of landlord are you dealing with?
Wednesday, April 15, 2015Most tenants don't realize that landlords fall into different categories, and these landlords have different motivations for owning the types of commercial real estate investments that they do. Here are a number of different types of landlords and how to deal with each of them.
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Negotiating the operating costs as rent
Thursday, March 19, 2015When it comes to negotiating commercial leases and renewals, there are aspects of operating costs that can indeed be changed to the tenant's favor (although most commercial real estate professionals may tell you otherwise). The landlord wants to make sure that tenants pay for all the operating costs for the property — there's nothing unusual about that.
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Is bigger really better? Leasing the right size of commercial space
Thursday, January 15, 2015Commercial tenants often say they are not making any money because their rent is too high. Sometimes this is a true statement, but more often than not, the commercial tenant has simply leased too many square feet.
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Selling your business? What tenants need to know about their lease
Thursday, December 11, 2014Whether we're speaking at a franchise convention, healthcare workshop or a restaurant expo, we are magnets for tenants' questions. Here are just a few considerations pertaining to commercial lease assignments.
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Phantom space: Getting the room you pay for
Tuesday, November 11, 2014Space measurement is one of our favorite topics, and it's amazing how often it's done incorrectly. When an area isn't measured correctly, you can end up with phantom space, or space that really isn't there even though you're being charged rent for it. It's absolutely shocking how much space is mismeasured — 3, 5 or 10 percent off might not sound like much, but why should any tenant overpay?
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Friend or foe? The real motivation of commercial real estate agents
Tuesday, October 14, 2014Commercial tenants are entitled to know if the real estate agent or broker is being paid a commission and how much. All you have to do is ask. In most cases, the agent's commission will be 5 or 6 percent of the base or minimum rent (not operating costs).
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How much rent can tenants afford to pay?
Wednesday, September 17, 2014One of the most commonly-asked questions we hear is, "How do I know how much rent my business can afford to pay?" This question typically comes from entrepreneurs who are planning to open their first business or even buy a franchise.
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Why do site selection if you’re not planning to relocate?
Friday, August 15, 2014Prior to negotiating a lease renewal, there is great value in conducting a site selection. Typically, many years have gone by since you last looked at available commercial properties, and it's time to do that again.
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Avoiding security deposit pitfalls when renewing your lease
Wednesday, July 16, 2014Tenants can hit some potential pitfalls with the security deposit when renewing a lease. To be successful in negotiating for the return of a security deposit, you have to know what to expect.
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How to negotiate a lease renewal rent reduction for commercial tenants
Wednesday, June 11, 2014When we speak at major North American conferences and franchise shows, we frequently advise our audiences on the importance of properly negotiating their lease renewals. With doing so, ample benefits await — often including a rent reduction.
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3 myths when negotiating commercial leases and renewals
Wednesday, May 14, 2014Whether you are leasing space in a strip plaza, office building, shopping mall or industrial warehouse and whether you're a retailer, franchisee, chain store or healthcare professional, you eventually have to face a lease-renewal negotiation with the landlord.
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Franchisee tenants: Dealing with deposits and guaranties
Tuesday, April 22, 2014While landlords often ask for security deposits and/or personal guaranties on commercial leases, neither is mandatory or legally required. As a franchisee tenant, you should know that these can be negotiated.