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Tips to get the most of out of a commercial lease

On Behalf of | Jun 13, 2018 | Commercial Real Estate |

Shopping around for rental space here in Orange County may be a frustrating process. Finding a space that suits your needs at a reasonable price may seem like an insurmountable task. However, there are ways to get the most out of a commercial lease for a property that seems perfect otherwise.

Landlords and their agents negotiate leases on a fairly regular basis. This often puts prospective tenants at a disadvantage. Even though properties here in Orange County may be at a premium, but that is no reason to rush into a lease. Many agents expect negotiations, so the first offer is often higher than they would accept later. Accepting a first offer could end up costing a tenant more than necessary.

To make matters even more challenging, leasing agents and landlords will also attempt to persuade a tenant to sign a lengthy lease. The longer the lease term, the more comfortable a landlord feels due to the prospect of a steady income for that time. However, a long lease term may not be in a tenant’s best interests. If a longer term is not beneficial, a tenant may need to make negotiating a shorter term a priority.

Negotiating for the right term at the right rental amount is not as outlandish as it may seem when a prospective tenant is attempting to find a place. It may take more time, but in order to get the most out of a commercial lease, a tenant will more than likely need to slow down, examine all of the options and be willing to walk away if necessary. In order to achieve the best deal possible, it may help to enlist the aid of a commercial real estate attorney in the area.