How to Negotiate Your Way to a Better Retail Lease

How to Negotiate Your Way to a Better Retail Lease

images (16)Small Business Development Corporation
Gordon Stephenson House Leven 2,140 William Street

It is necessary to understand the interests of the participants involved when seeking to negotiate a lease.It is also important to realise that there may be a conflict between what each participant seeks to gain from the negotiations.Negotiating a good lease is vital to the success of your business. The golden rules for success are:
• know who you are dealing with;
• know what else is available;
• know your legal rights;
• don’t let your heart rule your head;
• establish your bottom line;
• determine the other party’s bottom line; and
• seek legal and financial advice.
If you are not entirely comfortable with the proposed
lease be prepared to say no.
The participants
The owner of the property will generally seek from the tenant optimum rent,minimum expenditure,payment of expenses and a watertight lease which ensures that their rights are fully protected.
The business owner will seek leasing conditions which permit profitable operation and growth of the goodwill value of the business.
Letting agent (who may also be the managing agent)
The letting agent is engaged by the landlord and receives commission from the landlord once a tenant has entered into a lease.

How to Negotiate Your Way to a Better Retail Lease

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