Leasing

Leasing an ‘ICI’ property is an easier transaction to complete than purchasing. Landlords want Tenants and Tenants need space. However, Tenants should not assume that Landlords will entertain all Offers. The most common misconception Tenant’s have is that they assume, because a Landlord is losing income with vacant premises, that they will entertain low offers, especially if the vacant premises have been empty for some time. That is simply not true. To their surprise many Landlords will not even sign back an Offer that is too low. Another misconception is that Tenants assume Landlords will automatically offer free rent. On the contrary, Landlords don’t want to give anything for free. These assumptions negatively impact the Tenants negotiation position and opportunity to lease the property. Landlords want good Tenants. Presenting a Tenants fine qualities like business experience, equity and credit (Covenant) makes the Landlord more willing to negotiate their terms. Having a detailed Commercial Offer to Lease complete with Credit Information and Articles of Incorporation is a good way to start. Having negotiated many commercial lease transactions ranging from small to multi-national Landlords, both listed on MLS and ‘off-market’ opportunities, my experience, attention to detail and negotiation skills has allowed me to serve my Tenant Clients well.