Commercial real estate leases can be complex and confusing. If you are a Connecticut business owner looking for office or retail space, it is important to understand the negotiation process and how to ensure that you are getting the best possible deal.
Understand your needs
What type of space do you need? How much space do you need? What is your budget? These are important questions to answer before you start looking for commercial real estate. Once you know what you need, you can begin to narrow down your search and focus on properties that fit your criteria.
Assess the square footage in person
Once you have found a few potential properties, it is important to assess the square footage in person. This will give you a better idea of how much space you will actually have to work with.
When looking at the square footage, also pay attention to the layout of the space and whether it will meet your needs. For example, if you are looking for office space, make sure that the layout will work for your business.
Negotiate a longer lease term
One way to save money on your commercial lease is to negotiate a longer lease term. This will give you stability and predictability with your monthly payments. It may also give you the opportunity to lock in a lower rate if you sign a longer lease. Usually, the landlord will be willing to negotiate a longer lease term if it means they can avoid having to find a new tenant every year.
If you are looking for a shorter lease term, you may still be able to negotiate a lower rate. This is because the landlord knows that they will have to find a new tenant once your lease is
Compare lease terms
Once you have found a few properties that meet your needs, it is time to start comparing lease terms. Some important factors to consider include the length of the lease, the monthly rent price and any additional fees.