The Art of Negotiation for Commercial Lease

A negotiation is a critical step when you wish to rent or buy a property. If not done correctly it can steal your peace of mind, and leave you stressed. A successful negotiation is an art and cannot be ignored. Given below are some tips to help bring off commercial real estate as per your needs and requirements.

 Know your stuff: You cannot negotiate unless you know what you are looking for. In short, do your homework. Be familiar with the facts and figures so that you know where you stand and what exactly you want.

 Understand terms and conditions: The term and rent are the crucial factors for negotiation. Be flexible and don’t over-commit. Discuss the rent increases and renewal options.

 What needs to be included and excluded? When you know what you want to keep, and what you wish to discard, it will help you know what you can compromise on; if the need arises. 

 Take one step at a time: When one is cooperative and easy-going, it makes the deal a lot simpler. Come across as someone who is sincere and someone who empathises. The trick is to remain pleasant no matter how ugly the situation is at hand. This way, you take one step at a time.

 Who takes care of the maintenance? Residential leasing and commercial rentals are two different aspects altogether. Housing maintenance is generally taken care of by landlords; however, commercial lease requires the tenant to be responsible for the property upkeep and repairs. The idea is to know your lease completely before committing.

 Professional help: When you ask for assistance, you can get a lot of useful information, which may not be possible if done single-handedly.

 Everything needs to be written: Do not say yes to anything unless you see it written. Verbal offers could get you in trouble if not properly consulted.

3 Basic Tips to Find A Good Deal on Rental Homes

Statistics have proven that people more often than not opt for rental homes than buying them. It is flexible and a lot more economical. However, from the initial decision of an investment in real estate to the buying of the rental property, there is a great deal of things that need to be taken care of. Given below are a few things that should be considered to find the best deals on rent before one signs the contract.

1. Try online: If you are looking up online, you need to know how to search for one. For instance, put in the right keywords. Keywords are the things that you are looking for in your apartment or villa. For case in point, if you are looking for a one- or two-bedroom apartment, a pool, a gymnasium, additional bathrooms, attic space, etc. Other options other than an online search could include individual property management sites, online forums, and newspaper classifieds.

2. Take a look at the place: Online surfing will give you a rough idea about the place and the amenities; however, you need to know how the place for real is. When you take a walk around, and see the place for yourself, you will have a better feel of the place. In any case, there is no substitute for visiting a place in person. Besides, don’t restrict your trip to just a single place, visit a minimum of 2-3 to have a fairer idea.

3. Chances of future development: When you get to the place, you can easily ask the domestic or municipal planning department about any kind of new development in and around the area. These could range from parks, new apartments, malls, etc.

 Here’s hoping that the above three pointers help you buy the right rental property to meet all your needs and requirements.