Negotiate the Best Lease for Your Business

by Janet Portman, Fred S. Steingold, Janet Portman Attorney, et al.

Book Overview

Despite what you've been told, there is no standard lease You've heard it already: "This is our standard lease--sign it." But often, you can negotiate what you need. And to do that, you'll need... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1413324177
• ISBN13: 9781413324174
• Release Date: November 2017
• Publisher: NOLO
• Length: 328 Pages
• Weight: 1.15 lbs.
• Dimensions: 0.6" x 7.0" x 8.9"

Customer Reviews

How to avoid being a sucker

Thinking to lease space for your business? It's a buyer's market but an uphill battle! Just because landlords have so much unoccupied space doesn't mean they've accepted that the tenant will be able to modify their lease contract in a big way. These are unique times. For once, a small business is in a position to negotiate much different lease terms. Chances are you will find yourself in a unique situation, able to almost rewrite the contract that the building's landlord has used for years. But everybody will try to rush you into signing the lease once the basic price per square foot has been agreed upon. You will need time to rewrite their standard lease. That's why I gave this review such a dramatic title. My point in the title is simply to encourage prospective tenants to make the most of this opportunity and avoid onerous terms. We don't have to be rushed into anything that we don't fully understand. This book is written in an accessible manner and the chapters are well-organized. You can see this by clicking on "Look Inside!" Historically, small businesses typically had to accept one-sided leases heavily favoring the landlord. The landlord was naturally in the stronger position since small businesses typically didn't have much in the way of collateral or credit. Generally small businesses are far worse off nowadays, often with no access to credit. What has changed is that so many landlords are truly edge-of-the-abyss desperate. They're losing tenants at a faster rate, and they cannot sell their buildings with the possible exception of at auction. This is an historic opportunity to get a fair lease. But be prepared for tough negotiations and to walk away. At a minimum, this book will warn you of major tricks that you'll be up against. Use this book to do more on your own and save on legal fees, or at least to get the scoop on how to select a broker or an attorney and then how to deal with them. This book covers those points well. In the end, nobody knows your situation better than you, and it's possible that nobody else really cares. Problems are avoided by being better informed and engaged in your negotiations. The negotiation part won't be fun, with everybody trying to rush you including your own representatives. I've been through it several times and in one instance am in the process currently. I'd like to see some reform in the industry, with a fair balance of power between landlord and tenant. Nevertheless, it is disconcerting to see the landlords in such desperate straits. The fun part is looking at spaces and finding out how much landlords want you as a tenant, given the high vacancy rates. You shouldn't have any problem getting a one-year lease in a Class A building, if that is what you want. If you go with a broker, the authors advise you get one that has exclusively represented tenants over a long period of time. Such a broker is likely to find you many great deals, often subleases at extraordi

Must read book...

I just started my own business and leased space. If I had not read this book I could have been duped 100 times over. There is so much good information in this book. It covers every major area of the process. It gives many examples of points discussed. It gives tips and warnings for you to avoid getting talked into a bad lease. It covers brokers, lawyers, contracts, and more. It does not give a sample lease because it says they are all so different and amendable. Read this or risk getting stuck in a bad lease for 3-5 years and learning the hard way you could have done a lot better if you were informed.

Excellent Book for the Small Business Owner

If I could buy one book about commercial leasing and I was a small business owner, this would be the one. I consult to small business tenants daily and the tips in this book will help them avoid a lot lost money and hassle! Anthony Dyson As Founder and Broker of Record of Realty Executives Dyson Inc, a real estate lease consulting and brokerage firm, Anthony provides his 25 years of expertise in real estate lease negotiation to large and small business tenants nationwide by phone, fax and email as well as providing commercial real estate brokerage services in Toronto.

Moneysaving Info

This book is perfect for what we needed as a first time business leasee. Knowledge is key in any negotiation allowing you to negotiate from a position of strength. This book gives you that knowledge. The potential to save money and/or not get stuck in a long term lease on an inappropriate property makes this a must-have book. Read it before signing any lease contract.