In former shopping center manager Willerton switched sides to work exclusively for tenants. Both authors frequently speak at industry trade shows, franchise events, healthcare conferences, universities, and business networking events throughout North America.
Dale Willerton , Jeff Grandfield. Negotiate commercial leases and renewals like a pro Renting space for businesses and navigating a commercial lease can be a daunting task for those without expertise, as errors or oversights can cost thousands of dollars.
Discover the rights and responsibilities associated with commercial leases Find out how much negotiability and flexibility you can expect in commercial leases and renewals Get to know which laws protect you and your business Negotiating Commercial Leases For Dummies is essential reading for the more than 10 million business owners, entrepreneurs, retailers, restaurants, doctors, and franchise tenants who lease commercial, office, and retail space across North America.
Starting the Leasing Process. Furthermore, corporations also have more tax benefits than sole proprietorships.
Negotiating Commercial Leases & Renewals For Dummies [Dale Willerton] on equmoqenyk.gq *FREE* shipping on qualifying offers. Negotiate commercial leases . Many tenants are unskilled in what and how to negotiate leases and may be uninformed about the details of their lease, even if it's a renewal. This lack of.
Too many tenants passively accept a guarantee because it was left to the end of the negotiations for discussion. If you are strongly opposed to guarantees, bring it right out in the open to begin with — before you invest several weeks on the deal. In most cases, a limited personal guarantee which declines over the course of time can be agreed upon — but should be equivalent to the tenant allowance of other up-front risks or expenses to the landlord and should not be unlimited.
It is normally the case that a tenant is better off simply working out a new lease arrangement by negotiating with their landlord rather than triggering the option to renew. In most cases, a limited personal guarantee which declines over the course of time can be agreed upon — but should be equivalent to the tenant allowance of other up-front risks or expenses to the landlord and should not be unlimited. Three years, or even one year, for some tenants may be better if the cost for leasehold improvements is low enough since these are generally amortized over the life of a lease term. All rights reserved. Sponsored Links:. Why should your landlord keep this money?
If you agree to a guarantee initially, your lease renewal negotiations are an excellent time to have this removed — after all, you are a proven tenant at this stage. Resist the urge to look at your lease as a list of individual points that must be all negotiated separately.
All the business terms are connected and must be negotiated collectively. Try to set aside your emotions and make objective decisions. Whoever most needs to make a lease deal will give up the most concessions … tenant or landlord. Select the Best Lease Length While a five-year lease term is still standard for many businesses seven or 10 years in some cases , it may not necessarily be the best term for you and your restaurant. Who Should be the Tenant? Negotiate All Lease Terms at Once Resist the urge to look at your lease as a list of individual points that must be all negotiated separately.
Be Prepared to Walk Away Try to set aside your emotions and make objective decisions.