How to Lease Commercial Space as Tenant

Leasing commercial space can be the first step to starting your business, expanding your existing business, or any number of other positive outcomes.  However, there are certain things that you need to know in order to lease commercial space as a tenant.  You will want to negotiate the best possible lease agreement so that you are not locked into a contract that has terms that you will be unable or unwilling to meet, or that will negatively impact your business.  In addition, you will want to figure out what the best possible way to negotiate the commercial lease with your landlord is.  There are several important tips that will help you negotiate commercial lease space as a tenant.

Negotiating a Lease for Commercial Space

• One tip to renting commercial space as a tenant is to figure out exactly what you need in a commercial space before you begin looking for the space that will perfectly suit you and your business. 

By determining your needs, wants, and must haves, you will be able to quickly rule out potential properties that do not meet your needs, as well as to negotiate the best use clauses and premise definitions when you begin to meet seriously with commercial lease property owners. 

• Another tip that will help you negotiate the commercial lease that you are looking for is to bring a full set of drawings of any tenant improvements that you wish to make to the property, or of other improvements that you intend to ask the property owner to make prior to your occupying the commercial space. 

By being clear about what you want to do with the property, or have the property owner do for you with the property, you will be able to avoid entering into a lease agreement only to find that you cannot make the necessary changes to make the property work for you.

• The final step to leasing a commercial property is to attempt to time the market so that you are getting the best possible deal on commercial space. 

By determining when to lease, and watching properties that have been vacant for a longer time than others, you can often negotiate a much better deal than the initial offer on the property, which will save you money for as long as you occupy the property.  Once you know how to lease commercial property as a tenant, you will be well prepared to negotiate the commercial leasing process.

Getting Help

As with any legally binding document, you should not sign a commercial lease without having it reviewed by a competent attorney. You should get your lawyer involved as early in the process as possible so he can help you to negotiate the most advantageous lease terms for renting your commercial space.