Ready to Sign on the Dotted Line?

 
BEFORE you use that pen to sign anything ... you may want to read this!

We've had some great responses to the Commercial Leasing Tips that we've shared last year. 

Thank you for your feedback and for sharing this Post with those in your circles of contact, where you feel they could benefit. 

Here are some more valuable tips and suggestions from The Lease Coach that we believe you'll find helpful! And while the owner always has the final decision on matters related to their business, we've come to appreciate the value of engaging experienced professionals in order to benefit from their many years of experience!

Thank you Dale Willerton and Jeff Grandfield for once again providing these helpful insights for our "Business Success" audience!

Dale Willerton

Jeff Grandfield

Negotiating Commercial Leases & Renewals For Dummies

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate. 

 
As explained in our new book, Negotiating Commercial Leases & Renewals For Dummies (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Don’t Give Post-Dated Cheques: One of the main jobs for a property manager is to collect the rent and, understandably, they prefer to have post-dated cheques. As a tenant, however, you may not have the rent money until the third day of the month. Paying a few days later is far better than bouncing a cheque. Consider if there is a recurring problem with your commercial unit’s air conditioner or the snow hasn’t been removed from the parking lot this week. By not providing post-dated cheques, you retain some control. It is often possible to modify this clause in the commercial lease agreement – or negotiate for its complete removal.

Buying a Business? It has been our experience that the average person buying a business does not fully consider the lease agreement he is taking on. For the purchaser, this is a very good opportunity to improve the situation by trying to negotiate better lease terms. All Offers to Purchase for a business should be subject to final lease approval. You can also speak with the landlord about renewal options and the purchaser’s right to eventually resell the business at a future time. You should also have a Lease Consultant review the Lease Agreement for you.

Request Proposals Be Written: When negotiating a new lease (or a lease renewal), it is most desirable that the landlord or property manager’s proposal be in writing. This creates a paper trail that you can refer back to, if needed. If you are an existing tenant, understand that a landlord may not automatically send you a renewal proposal at the end of your term. If your calls go unanswered, send the landlord a letter requesting a renewal proposal within 10 days. Without looking like you automatically intend to renew your lease, you want to know what deal the landlord expects to do well in advance.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to DaleWillerton@TheLeaseCoach.com.  

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

What's been your experience? Add your helpful comments and please, share this post with those in your circle of contacts!

We can help as you PLAN your Business,

and BUILD your BUSINESS PLAN!

CLICK HERE for more details from our Website!

Putting on your "Robin Hood"

I was very pleased to speak with Paul Woida, a rising talent on the Alberta Music scene and asked him for a few thoughts regarding his recent song: “Robin Hood”. Of course, the title immediately takes me back to the story of the heroic English outlaw, a highly skilled archer and swordsman who was said to have 'stolen from the rich, and given to the poor'. 


Poverty is certainly a problem, and it's one that has become increasingly more challenging in the economic downturn that we've experienced over the past year. While times are tough, I don't think that we're at the same stage as would have been experienced in the days of Robin Hood.



Those familiar with the story will know that the times were extremely difficult, with a significant disparity and polarization between the wealthy upper class and commoners. The social safety nets, variety of social services and not-for-profit agencies available to assist today were not in place at that time. Having said that, we recognize that there are still many who are in need and 'falling through the cracks' in our modern communities. And if we think that it's bad here ... we also recognize that there are places around the world where the conditions for those in need are even more desperate, and the resulting consequences even more dire.


Here's what we know:

• When each of us takes a moment to do even a little thing to help, it's another step in the right direction, and each step gets us closer to reaching our destination!
• Individual actions added together to those of others can make a difference and change the lives of many in our community and beyond.
• What seems impossible gets closer every day when each of us lends our support to a good cause.
• Find a good cause that you can support, and ask them how you can help. Is there something you could do, some way to get involved, something you could assist them with and help to make a difference. 

* And if you'd like to help Paul Woida with his cause, listen to his song "Robin Hood" and cast a vote to help him in the fight to end poverty. In fact, you can vote once a day until January 15, 2016! Yes, you'll need to make a profile but it will only take 30 seconds. (Thanks) Also, feel free to share this with those in your circle of contacts.

You can vote for Paul's music video at: http://www.myunitedwayvoice.ca/artist/76/

Paul Woida's song "Robin Hood" is at: https://youtu.be/0D5vOjgSZXU via @YouTube

Was there an actual Robin Hood? No-one really knows the true answer to that question, although there are several historic figures that were strong contenders. 

Here's what I know ... The hero in the legend of Robin Hood was someone who saw those in need and took action to provide them with assistance. That's something that any of us can do. We'd only recommend that each of us use legal and ethical means in those efforts! 

BTW - Our short video interview with Paul Woida on this topic can be seen on our YouTube Channel at:  https://youtu.be/0-jYa6gPS3E




What are some of your suggestions on how people can get involved in good causes and make a difference in the lives of others? 

Leave us a comment and we'll share it with others!