Let’s Find Some Space!

Space Rent Landlord Lease

Identifying your Perfect Space can be a very profitable process.

The Usual and Short-List Considerations:•Location: Where your customer is, or where they want you to be.•Visibility: Can your customer readily find you?•Suitability: What level of sophistication will your customer expect?•Access: Ease of entry and parking availability.

Why is the Best Space Always the Most Expensive?

The Space found is Perfect & Rent Ok.

Done? Only if you like

surprises!•Is the property approved/zoned for the use intended?•Who is the landlord? What is her real estate community reputation?•Does the landlord own the property?•How are her other tenants treated?•How well is the property maintained?•How does the offered rent compare to market?

The landlord checked you out, and hands you a lease……. 24 pages of very small print to sign.

•A commercial lease is a legally binding contract that contains very little “law.”•The lease is an agreement between a real property owner (landlord) and its temporary user/occupant (tenant) that controls their business relationship, usually for years.•Every commercial lease starts out as a one-sided two-party agreement, written by the landlord in what is apparently a foreign language.

The Lease seals the bargain. Employing a “commercial tenant rep” can equal-out the equation:

•Commercial leases rarely contradict the law, although a few beg the tenant to give up a legal right or two. Language easily removed.•Is there a “quiet enjoyment” clause?•The most prevalent mismatch is in the landlord’s supplied maintenance clause. Air-conditioning? Roof leaks? These may be unmentioned in the lease. Guess whose problem?•Lease options, like renewals and rent-caps are to a tenant’s advantage. An experienced tenant rep will recognize the need and negotiate for these and other options.•Finally, every tenant or real estate buyer needs a Plan B to mitigate a financial setback or change in plan. There are Plan B’s to most every contingency, and the possibilities need to be thought through.

What is a “Tenant Rep”?

More can be found onhttp://Commrealestatestpete.com