Savvy commercial real estate investors understand the importance of negotiating a good deal on an investment property. Those negotiating a commercial lease can gain substantially from a few yet important tips on how to be a more effective negotiator. For example, always carefully evaluate the lease length. After you find the perfect commercial rental location in Atlanta, a standard commercial rental application is usually required. Consider carefully the length of a lease and how it relates to your business’s long-term planning.
Commercial Rental in Atlanta
Businesses thinking strategically may opt for a shorter lease with an option to renew. This affords greater flexibility especially for businesses that anticipate steady and continued growth. Another benefit of choosing a shorter lease with an option to renew is that if the property does not satisfy the needs of your business as anticipated you will have greater latitude for finding another space. Also if lease rates go down in your neighborhood you will be able to reestablish in a lower cost property much sooner.
Atlanta Commercial Lease Considerations
Conversely, those wishing to establish roots in a community with more long-term goals and objectives in mind may find that a longer length lease is more advantageous. Restaurant owners typically find that longer leases are more preferred. One tip when it comes to negotiating better lease terms is to do the necessary research with regard to other properties in the area. Coming to the table with a wealth of knowledge can make all the difference. Another strategic investment idea is to negotiate when possible any specific rate increases so no surprises await your business down the road. Negotiating a rental increase may end up saving businesses money, especially in terms of not having to move the operation at a later time.
Satisfactory Completion of the Lease
Another negotiable detail when sizing up a commercial lease in Atlanta is the security deposit. It may be possible to negotiate a lower security or how a security deposit is refunded or returned following the satisfactory completion of the lease. Be fully aware of any hidden costs associated with a lease. Keep in mind that many commonly offered commercial leases today will stipulate that the tenant is responsible for costs involving grounds upkeep and maintenance.
Favorable Clauses
Finally, those negotiating an Atlanta commercial lease may also consider asking for something known as favorable clauses. In fact, it may actually be possible to request specific modifications to the lease that will benefit your business. One example of this is asking for a clause that allows for limitations on the property or one that restricts the landlord from renting other units in the building to businesses that are similar to your business in what they do. Contact Wiedmayer & Co. today to learn more about the options when it comes to negotiating an Atlanta commercial lease.