Successfully Negotiating Your First Lease Agreement for a Commercial Apartment Space

Posted on: 11 August 2020

Owning a business is a commitment that will take years of growth. One business move that can increase your growth exponentially is getting a commercial store. A leased space for a commercial shop will permit you to advertise and take clients at a set building. You can make appointments, have walk-ins, or sell your items during your store's opening hours. The most advantageous space for a fledgling business to lease is a commercial apartment space. Many apartments have commercials spaces located at the bottom of their building. Here are some ways to successfully negotiate your first lease in a commercial apartment space. 

1. Ask for a real estate attorney's assistance

Everything in life can be negotiated, especially lease agreements. Have a corporate real estate attorney go over the preliminary lease with you to give you the highlights that you need to know about the lease. Along with the lease term and the monthly rental rate, you will need to know any caveats about your hours of operation, hosting any events, and what kind of machines you are permitted to keep inside of the building. If there are any clauses that you need to get rid of for the health of your company, you should have your corporate real estate attorney speak with the corporate leasing office to make these changes. 

2. Offer residents discounts

Residential complexes that have commercial leasing spaces like to have companies occupy these buildings that have services and products that benefit their residents. To attract residents to become consistent customers, offer the residents of the live-work complex a discount. You can also offer a corporate discount to the parent leasing company so that executives or management can come and enjoy your services, as well. Program these discounts into your point of sale system to make sure that you don't have to calculate them at the end of an order or service. 

3. Make an exchange for co-advertisements

One of the easiest least expensive business products is business cards and brochures. There are companies that consistently offer business cards and brochures by the hundreds for a nominal fee. When asking to lease a space in an apartment building, offer to add the building on to your advertisements in exchange for them offering your cards to their residents or having your company advertised on their exterior advertisements. This benefits you doubly because you will gain extra advertisement with a bigger company plus you can help to drive in residents, which provides your business with many more potential customers within walking distance.