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You have been looking for premises where to open you business. Philip Thow argues that there are certain things you ought to know before signing the all important business lease. The first thing you need to understand about business leases is that they are very different from dwelling rentals. Dwelling rentals have a standard monthly price and it is the duty of the landlord to pay for any repairs. However, with business leases, any costs above the price of the lease are paid for by the tenant. Before you can negotiate the lease, inquire about any extra costs. The last thing you want as a tenant are surprises.
Phillip Thow advises that you consider the location before signing the lease. You should never rush the process of selecting the business location. You should select the best possible location taking into consideration other tenants, how accessible the premises are and if the location has adequate traffic. Only sign a lease on premises where you are guaranteed of good returns.
When you approach a landlord or a lease broker, their hope is that you accept their first deal. However, you should negotiate. By negotiating, you will be able to push the quoted price downwards making it more reasonable and affordable. Phil Thow understands the need for preparing for negotiations and not appearing too eager. You should always start low. Be sure to ask the landlord for more than you can possibly hope to receive for instance, free rent. Understand that if the lease broker or landlord accepts your very first offer you did not start the negotiations low enough. You will get a better deal if you go into the negotiations well prepared.
You should consult an expert before you sign a business lease. Phil Thow provides business lease services. He can include important clause that can benefit your business in the long run and advise you on the questions to ask during the negotiation process. In addition, expert business lease experts protect business owners and manager from signing problematic lease agreements.
Phil Thow advises that you ensure that all verbal promises and agreements are put down in writing. A written agreement acts as a safeguard against problems and disagreements that may arise in future.
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