Are you looking for a retail lease in Massachusetts that suits your company’s budget? Negotiating a lease without understanding the details and process of the commercial lending practice can lead to frustration. Massachusetts retail leasing experts at Sovereign Realty Advisors are going to share some helpful tips on how to get the best deal on retail leasing in Massachusetts.
Know what you can spend and understand your needs- before beginning the negotiation process or even looking for retail space, know your budget and separate your “have to haves” from your “wants”. These are often two very different things and they can affect the amount you spend.
Have an agent negotiate for you- if you are unsure about the negotiation process, rather than doing it yourself, hire an experienced agent to negotiate the deal for you. Sovereign Realty Advisors have great experience in representing commercial tenants.
Negotiate for lower, early termination penalty fees- if your business suddenly needs a different space or location, forcing you to forfeit on your lease, early termination fees can be high. Negotiate for lower early termination penalty fees to ensure you are getting the best deal on retail leasing in Massachusetts.
Negotiate multiple locations at the same time- this is a mistake many new business owners make as they are eager to get started. If possible, negotiate on more than one location to get the best deal and be ready to walk away from one, or all, of the deals.
Always Negotiate the asked rent- property owners will ask for the maximum amount of rent they feel they can get for a property. Don’t be afraid to negotiate the rent. Most landlords expect a haggling process.
Negotiate a longer lease term for less money- if you ask for a longer lease term, you should typically be able to get the space for lower monthly lease rates.
Negotiate for any perks the property owner may be offering- many property owners will offer tenants perks that can save a lot of money. These are often offered as incentives to new tenants and can include free parking, Wi-Fi or discounted equipment rentals.
To learn more about getting the best deal on retail leasing in Massachusetts, contact Sovereign Realty Advisors today for a no-obligation consultation with one of our Massachusetts commercial property experts today.
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