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Top Five Tips for Tenants on Lease Renewal

1. Pay your rent on time! It is no different than having a high credit score and having great leverage with your bank. If you have an excellent track history with your landlord, you are much more likely to get a favorable deal.

2. Tell them about the exciting growth of your business! Especially if the Landlord has additional larger space in his portfolio, let them know if you are truly growing that there is real possibility of expansion. Landlords love it when you expand and grow with them.

3. Get along with your neighboring tenants! If your Landlord never hears complaints from your neighboring tenants, then they are much more likely to give you a better deal. Landlords want tenants that do not disrupt their other tenants.

4. Refer them quality tenants! By referring quality tenants it save the landlord a lot of time and money and that will certainly help in your negotiations on a lease renewal. People that you do business with or know in your community is the best place to start.

5. Know the Market! Is the market you are renting in getting tighter with rents increasing? Is there anything new being built coming in soon? What are other tenants paying? What are other tenants paying in buildings nearby? If
you are not sure then an experienced commercial broker that specializes in leasing would be a great source. They will not charge for your services as the landlord usually will cover their commission. Also the Landlord will greatly respect the broker and you can stay out of it and continue to focus on your business.

For a free no obligation analysis of a lease coming up in the next year, please contact us at 954 923 1466. Also if you need to grow, re locate or even downsize we can help with that as well. Even if you feel you are stuck in lease you cannot get out of we can assist with that too.