Welcome to Miami Miguel Frias Garcia agent real estate specialist and mortgage loans. Are you seriously thinking about buying, selling, or refinancing a property in the area of Miami or Broward County? Service and experience, accredit us as the first international real estate agency, we have thousands of houses and apartments to show, certainly now is the best time to buy property prices and mortgage loans have fallen a lot do not expect more The consultation is free call now miami dade: miami dade: 305-407-3547 broward county: 754-777-0807 thank you and congratulations !!!!

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Leasing Commercial Space

Leasing commercial office space is one of the largest expenses incurred by new and expanding businesses, so it is important to do your due diligence. Here are some tips for negotiating a commercial lease for your small business.

Lease Agreement

Lease term and rent are your first negotiation points. It is generally recommended that small businesses negotiate one- to two-year leases with the option to renew. You will also want to factor in rent increases over the term and renewal options so you are not charged with an unexpected rent increase without warning. Consider working with a broker to help you negotiate with the landlord. It is also important to consult a knowledgeable real estate lawyer; they can often recommend the right choice for you and protect your interests as you negotiate your lease through the broker.

Expenses

In addition to your monthly lease payment, find out what expenses you may incur beyond rent. Commercial real estate landlords often incorporate extra expenses into the lease such as maintenance fees, upkeep for shared facilities (Common Area Maintenance or CAM), etc. Other expenses to consider are utilities. These charges are usually the responsibility of the tenant, so find out how these are measured. Are they individually metered or apportioned by square footage? Ask to see these “hidden fees” and policies as well as examples of costs that are typically incurred by tenants.

Maintenance and Repair

While residential leasing often places the burden of maintenance and upkeep on the shoulders of the landlord, commercial leases are different. Commercial leases vary regarding maintenance and repair – some stipulate that the tenant is responsible for all property upkeep and repairs while others specify that the tenant is responsible for systems like air conditioning, plumbing, etc.

Read the Lease

Be sure to read over your lease in detail and hire an attorney who specializes in commercial real estate to walk you through the clauses and fine print. For companies that choose not to buy their office space, a commercial lease may be the biggest expense your business has each month. Something that's so central to your work needs proper attention. Figuring out the details of the lease is important to small business owners but in many circumstances they don't take the time to go over it and negotiate the terms. That means every month the company paying out money that could go somewhere else. While it may take some time to figure out the lease, you can help your bottom line by figuring out how to better negotiate your commercial lease.

What if You Default?

Should you default on your lease payments, there are steps you can take during the lease negotiation process to protect yourself. Find out what the lease agreement states. Will you be locked out immediately? Will the landlord initiate eviction proceedings? Can you negotiate more time? Could you pay only the current month’s rent instead of the remaining amount owed on the lease?

How to Negotiate Better Commercial Leases

For companies that choose not to buy their office space, a commercial lease may be the biggest expense your business has each month. Something that's so central to your work needs proper attention. Figuring out the details of the lease is important to small business owners but in many circumstances they don't take the time to go over it and negotiate the terms. That means every month the company paying out money that could go somewhere else. While it may take some time to figure out the lease, you can help your bottom line by figuring out how to better negotiate your commercial lease.

Be clear on what's covered.

Just like a residential lease, a commercial lease covers more than just the premises. It also includes who pays utilities, who performs maintenance, and who is responsible for insurance, among other things. Being familiar with that is a good jumping off point to start negotiating.

Don't go it alone.

You're a small business owner, not a real estate broker, so don't make the mistake of representing yourself. There's a good chance the landlord has a broker or attorney on his side which could leave you at a disadvantage. Find a good broker or an attorney who can negotiate your lease and even the playing field or even tip it in your favor.

Consider the long term.

If you like your space and want to stay for a while, consider taking out a multi-year lease. The longer you're willing to stay, the more leverage you have to ask for things you want. Your landlord may be more likely to make some concessions if you're willing to stay and pay rent from more than one year.

Cap your expenses.

The downside to signing a multi-year lease is you might find yourself locked into fees that go up every year with no sign of stopping. One way to counter that is to set a cap on things like management and operating fees based on a percent of your base rent fee. Your broker or attorney could also help you negotiate an overall cap on increases in fees.

Be mindful of deadlines.

Nothing destroys your leverage like coming to your landlord 30 days before the lease is over and asking for concessions. If you want to stay in your current place, start considering what you want several months before and talk to the landlord and renegotiating the lease. That gives you more time to reach an agreement and more time to look for a new place if the landlord is unwilling to compromise.

Conclusion

Buying a house or condominium is a major personal purchase as well as a long-term investment. Never buy without a professional representation call Florida New Homes now.
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