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.
Negotiating Your New Office, Warehouse, Medical, and Tech 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.
Everything is negotiable, including their asking price. Prior to negotiations, determine the fair market value of the area. If you are low in cash flow, consider reducing the amount of amenities you require to reduce the asking rate of the rent. Reducing rent is not always an option, but asking is always a good idea.
Also, you are able to negotiate more than simply the rent in any lease. If you find a space you like within your price range, but you will require additional enclosed spaces, negotiate it into the lease. If the building is not up to code, this is solely the responsibility of the landlord.
You might consider a longer commitment to the space in turn for lower rent or additional amenities you cannot live without. You are also able to negotiate terms such as parking allowances, continued warehouse improvements, utility responsibilities, and much more. Again, refer to the list of items most and least important to you to ensure you negotiate the ultimate deal for your office, warehouse, medical, or tech space for rent in MN.