You Need A Solid Team of Professionals:
So many factors go into a successful lease for both the tenant and the landlord. A meeting of the minds regarding the lease’s economics, clauses, warranties, protections for all parties is a serious negotiation…no doubt about that. All parties are looking out for their best interests, as they should. That’s why it’s important for the tenant to have a solid team of professionals, i.e. commercial attorney, accountant, real estate broker, general contractor, permit expediter, liquor license attorney. Same for the landlord.
Plan For The Unexpected Obstacles:
There are always unexpected obstacles as the leasing process is coming down the home stretch. Overcoming these obstacles often determines whether a lease continues to move forward or not. Sometimes a deal that fell through comes back to the table months later, as the circumstances that stalled it changed.
A Good Lease Is Good For Both Tenant & Landlord
In the end, a good lease is one that both the tenant and landlord are equally pleased. It gives the tenant a real chance at economic success in the location, while at the same time providing stable and reliable monthly rental income for the landlord.