Negotiating Commercial Leases & Renewals For Dummies

Learn to: Use professional negotiating strategies and tactics Negotiate the lowest rental rate Find the best location for your business Negotiating a lease? Easy! Renting space for businesses and navigating a commercial lease can be a daunting task for even experienced tenants, as errors or oversights can cost thousands of dollars. Thankfully, Negotiating Commercial Leases & Renewals For Dummies takes the mystery out of dealing with landlords and their agents and levels the playing field for tenants. The expert advice and tips will help all business owners successfully negotiate their leases — without losing their cool, or their cash. Leasing 101 — use step-by-step guidance through the entire leasing process for both new leases and renewals Get negotiating — find plain English explanations of complex lease clauses and business terms that can affect your bottom line Take charge — get tips and advice on negotiating the base rent, operating costs, personal guaranties, and tenant inducements Get rid of guesswork — dive into the lease-renewal process and learn which clauses need to be renegotiated Open the book and find: Ways to avoid the common traps tenants fall into Tips for handling landlords How to work out the business terms of a lease Guidance in negotiating permitted use and exclusivity clauses Pros and cons of using a real estate agent Lease assignment tips when buying or s elling a business Advice on choosing the right location and building Ten leasing tips, tactics, and strategies for tenants

Introduction  1 Part I: Leasing 101 for Tenants  7 Chapter 1: Yes, You Can Negotiate a Great Commercial Lease 9 Chapter 2: Starting the Leasing Process 17 Chapter 3; Choosing the Building Type that Best Suits Your Needs 27 Chapter 4: Selecting the Most Profitable Site for Your Business 41 Chapter 5: Using Commercial Brokers and Real Estate Agents 55 Chapter 6: Selecting the Right Professional to Help You, the Tenant 71 Part II: Negotiating the Offer and Key Terms  83 Chapter 7: Presenting and Negotiating a Lease Proposal 85 Chapter 8: Negotiating the Business Terms of the Lease Deal 103 Chapter 9: Negotiating the Rental Rate 127 Chapter 10: Negotiating the Area (or Square Footage) 149 Chapter 11: Choosing your Commencement Date and Dealing with Construction 161 Chapter 12: Dealing with Deposits 175 Part III: Reviewing the Formal Lease Agreement and Dealing with the Landlord  187 Chapter 13: Understanding and Negotiating the Rest of the Lease 189 Chapter 14: Finalizing the Formal Lease Agreement 201 Chapter 15: Dealing with the Landlord 215 Part IV: Negotiating Your Lease Renewal  227 Chapter 16: Starting the Lease–Renewal Process 229 Chapter 17: Negotiating Renewal–Option Clauses and How to Best Exercise Them 253 Part V: The Part of Tens  267 Chapter 18: Ten Leasing Tips, Tactics, and Strategies for Tenants 269 Chapter 19: Ten Questions to Ask the Landlord’s Real Estate Agent 277 Chapter 20: Ten (or So) Warnings: What No One Ever Tells Tenants 285 Glossary of Commercial Real Estate Terms  293 Index  319

Dale Willerton and Jeff Grandfield are The Lease Coach, America's #1 authority on lease negotiating for commercial, retail, and office tenants. In 1993 former shopping center manager Willerton switched sides to work exclusively for tenants. Both authors frequently speak at industry trade shows, franchise events, healthcare conferences, universities, and business networking events throughout North America.