Retail lease negotiation tips you should know

Retail for Lease Tennessee
After choosing the right location for your retail space, the next essential step is the negotiation of the lease. In spite of efficient retail operations, you might end up losing financially due to the poor lease agreement.

A lot of retailers have already faced losses due to lack of knowledge related to retail for lease in Tennessee. To ensure you don’t face such scenarios, we have discussed retail lease negotiation tips that you must keep in mind.

Proper due diligence

Well, this tip is useful in each type of commercial space. You need to evaluate the mechanical infrastructure of the building. Make sure space is ADA-compliant and meets safety codes.

Retail for lease Cookeville, TNAvoid paying asked base rent

Even the landlords don’t expect the tenants to pay asked base rent. They know that the other party will negotiate on that amount. Your counter offer must be at least 10 to 15 percent beneath what the landlord is asking for.

Check the square footage

As you are supposed to pay commercial rent by the square foot, it is crucial that you check it on your own. In case if it comes up as less than the landlord’s claim, the rent will be reduced.

The longer lease term is better

You can reduce your base rent by signing a longer lease term. In case you aren’t willing for a lease longer than two years, ask for a nominal rent increase during renewals.

If you are searching retail for lease in Cookeville, Tennessee, connect with G&P Properties. Learn more about their leasing solutions from here: http://gppropertiestn.com/

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