Why Choose UsNegotiating the Rental of Office, Retail, Warehouse, Tech, and Medical Space. You cannot go over your budget, but you must have a particular space. What do you do? Once you establish your budget, make a list of the amenities your business cannot function without, the ones you would like to have to make your life easier, and the ones you can live without for the time being.
Office, warehouse, retail, medical, and tech space negotiations are quite common today, however they are quite different from a 'straight' warehouse negotiation. Most owners would rather have a tenant on negotiated terms rather than to have no tenant at all. If you cannot afford the office space of your dreams today and they will not move on the rental price, negotiate several rent-free months of occupancy. A landlord may refuse to offer a reduce rent rate because it may negatively affect the value of the building, therefore they are more likely to provide free rent for a few months as a compromise.
You might also negotiate a number of office elements that you might normally be required to purchase. Negotiate a fully furnished office space or that they provide various items such as a commercial copy machine and beverages for the break room. Do not forget to negotiate green initiatives if the office building has not yet made any environmental enhancements.
Another growing trend is shared office space where several businesses are in one office space, rather than simply one building. These businesses share all office amenities, supplies, conference rooms, floor space, etc. If you are a small business looking have a more professional appearance without having to rent an entire office, this may be the ideal office space solution for you. If you find a space you must have and cannot afford it even after price reductions and free rent, try to negotiate this trending real estate concept into your lease and seek out other tenants to share the space.
General Tips When Leasing Office, Retail, Warehouse, Medical, Tech Space Consider an Exclusivity Clause or a Non-Compete. This type of clause will prevent the landlord from leasing any additional office, retail, warehouse, medical, or tech space to a potential competitor in the same building. Be certain to include a Right to First Refusal if you are in the perfect space. Consumer traffic may shift after a few years or it may stay the same. It is nearly impossible to determine such shifts several years in advance. Having the option to stay or leave on your terms is a must for commercial space. If you are required to pay utilities or any other fee, ask to see receipts and bills from the previous year to be able to calculate your true costs. Do not take their estimated word for it. If they have not been paying these bills, they are unlikely to know with great certainty. Ask for a Sublease Provision. Much like the Right to First Refusal, you may want to leave your current space for any number of reasons. You might choose to diversify your product line, expand your business, or adapt to market shifts. Be certain your business is protected in these circumstances and that you have options.