Read before trying to do it alone
Have you ever found yourself trying to negotiate your own Atlanta Commercial Real Estate lease for your business. You may have found yourself in a bad spot when trying to negotiate. Dealing with landlords can be a very difficult and cumbersome task especially if you are not familiar with all the terminology. You must fortify yourself with knowledge when it’s going into negotiations. The Office Advisors are Atlanta’s number one commercial real estate negotiators. This is because we understand what it’s like from both sides of the field. We can assure you that we will never give away $1 of yours that you do not want to give up. So the next time you find yourself trying to negotiate your own commercial real estate lease call us at 404-594-3028
Tips and Tricks on Negotiating
Now there are many different tactics that you can use when trying to negotiate your lease. The Atlanta commercial real estate market is not that much different than many other markets. However there is nuances and terminology that is not the exact same as other major commercial markets in the US. We’ll be going over some tips and tricks that might help you when you were trying to negotiate your nice Atlanta Commercial Real Estate lease. Never forget that The Office Advisors are here to assist you in all of your real estate needs.
Pitting Landlords against one another
One of our favorite tactics when negotiating your lease with the landlord is to actually have multiple negotiations going on at once. This may sound counter-intuitive and cumbersome, but The Office Advisors are experts in moving around all of the necessary documents in order to put you in the best scenario. What this does is put the landlord in a place of wanting you. Because you know or negotiate with other spaces he knows that he has to put his best foot forward. The greatest part about LOI is that it is a non-binding agreement. This means that even if you come to terms you don’t have to follow through with it.
Furthermore creating competition between landlords ultimately will give you a better deal for your Atlanta Commercial Real Estate lease. When trying to find a space for your business you want to make sure that you are getting the best deal possible. Owning a business is never a short-term solution. We understand that small businesses need room to grow and that every dollar counts. The Office Advisors are a small business as well this is why we love working with each other. Moreover creating competition between landlords and letting them know that there is competition will ultimately put you in a position of power.
Do Not Hesitate Start Today
Many of our clients come to us in a state of urgency. This is never a good place when you are trying to find an Atlanta commercial real estate lease. However it is not impossible. What we normally suggest to our client is that you start at least nine months out we’re space. Negotiations can take a lot longer than you expect. If there’s anything that needs addressing then this can push the open date to Long.
Typically we tell our clients that the more time you have the better position to put you in. Having plenty of time to look and negotiate space let’s the landlord know that you are in no hurry. What many of our clients fail to realize is that the space not might not be perfect for their needs. Then there has to be a build-out. Then you have to create the correct space. As I’m sure you were we’re dealing with contractors is never an easy task. They are constantly laid and nothing ever finish is on time. Just can put out another wrench in your equation when trying to lease your Atlanta Commercial Real Estate location.
They Must Have Your Interest in Mind
Now it is important to have a broker that understands the landscape of the leasing Market. Especially when you are trying to negotiate any type of Atlanta Commercial Real Estate asset. The best part about working with The Office Advisors is that our Brokers are hard-nosed negotiators. We’re not mean by any means, but we fight for our clients to get the best deal possible. What we suggest is that we ask for the moon and see what they give us. Power Brokers have no problem asking for something so we can come to terms on what you’re really trying to accomplish. You never know what you can get just by asking for it.
Likewise it is important to interview your broker. You want to understand who they are representing in the transaction. The landlord is the one who is paying the Commission in the Atlanta commercial real estate market. The Office Advisors do not ask for a fee for many of our tenant representation clients. Seemingly this might be counterintuitive that we do not represent your interest. However a quick conversation with your broker and the assessment of your needs should put any of those fears at rest.
Furthermore if you are not even working with us you should evaluate your broker as well. Sometimes they are Brokers that like to push their clients to sign a higher lease. This is because it increases their Commission. We will never give away one of your dollars just to increase our commission right. That is a promise and we stick by it.
Subsequently make sure that you were actually getting the correct amount of space that you are paying for it. The Office Advisors always suggest to our clients that they have the space professionally measured. There’s something in the industry that we call Phantom or go space. This is space that the landlord says they are renting to you and that you were paying for. However in reality it does not exist. Now this is not always done out of malice and sometimes it’s just bad numbers or a miscommunication. Having your space professionally measured can save you a lot of money especially in the long run. No one wants to pay for something that they are not even using was not in there.
Hire A Great Lawyer
Most importantly you should have an attorney look at your lease. I know as a small business owner that any type of expense can mean a lot to you on your bottom line.However signing a legal document that you are bound by and responsible for being a lot more than a one-time attorney fee. A lease is a legal document that whoever signs it whether it be the business or business owner is liable for. Just because the landlord says they are willing to pay for something or that it is their responsibility unless it is in the lease document it does not matter. We have horror stories from clients so we do not represent coming to us after the fact of them being out of pocket $25,000 or more on an expense for the building. The Office Advisors always suggest that you have an attorney who is familiar with the Atlanta commercial real estate market evaluate your lease.
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The Office Advisors is affiliated with the Sellect Realty group of brokerages. We can assist in any type of real estate in the Atlanta area.