come up with a counteroffer. Here are my top tips for succeeding in negotiations and getting the best deal and terms for your company.
EVALUATE THE LEASE AND DON'T SIGN TOO QUICKLY
This is the first step. No need to immediately agree to the lease because it looks good. Take a deeper dive into how you can make it even better. You have some time to. Once you’ve found your top one or two spaces, contacted the landlord, and sent them a request for proposal and got the answer, ask for the full first lease terms. The first thing to look at is the length of the lease and how the escalations are structured. Then check the option to renew and the potential rates there. Chances are you know some of these terms from your responses to any RFPs you previously sent out. This is when you can look at the exact terminology of it with your broker and discover what the best way to counteroffer will be. Since you already know a lot of these rates and terms (hopefully from other properties), you can use them to compare. Check the personal guarantee and the finer details with your team, making sure they match what you had expected and then seeing where you can ask for a change. It is very rare for a broker to recommend that a business take the terms of the first lease and sign it. This is usually for those rushed situations. The landlord probably expects a counteroffer in a reasonable amount of time.
KNOW AND USE YOUR COMPARISONS IN THE SURROUNDING MARKE G MARKET
This is going to be the basis for a lot of your negotiations. You should already know this information going into this step and
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