We've written about common area maintenance in the past. And for good reason. Vague line items like "administrative fees" can be thousands of dollars, sometimes hundreds of thousands or more. That's one reason you audit past CAM charges, especially where you've taken over a business. In other situations involving CAM, the property owner's estimates are off - by huge margins - and the tenant is hit with a massive bill.
At the end of the year, we wrote a post about how leasing space in shopping centers is all about anchor tenants (when it comes to altering the typical landlord-tenant power dynamic). If you are an anchor tenant, this changes how you approach commercial lease negotiations. In short, being an anchor tenant means that you generally have more power and flexibility in negotiating the terms of your lease, because the anchor tenant usually drives significant, consistent business to the shopping center, making the landlord keen on signing a lease.
Your business has expanded to the point you need retail space. Or perhaps you're looking for office space and you decided that space in a shopping center works best for your business and customer base. Regardless of the reason, there are considerations when negotiating a commercial lease. This article discusses some of the common pitfalls to avoid when looking to rent commercial space.
As a new business owner, you are probably excited to finally get started offering your product or service to consumers in your area. You may have even found the perfect location for your new company and talked to the landlord about leasing space in their development.
Opening a business is an extremely exciting time for the owners. You and your business partners will have spent many months getting things ready to be sure that you are ready to go when you open your doors.