Mistakes happen but making a mistake during lease & tenant improvement negotiations can be costly for any small to medium-sized business. This YouTube video looks at five common yet preventable mistakes to watch for when looking for a new commercial space, negotiating or renewing a lease, or agreeing to a tenant improvement allowance.

There’s an air of excitement when looking for a new physical home for your business. You enthusiastically walk through available commercial spaces, talk to landlords, and explore the market. However, if you aren’t careful, there are some dangerous pitfalls you can fall into that will prove to be costly in the long run.

In this YouTube video, H.W. Holmes, Inc. breaks down five mistakes to avoid in lease and tenant improvement negotiations. These include:

  • Poor Planning
  • Not Having Tenant Representation
  • Putting Monthly Rent Above All Else
  • Not Creating Leverage in Negotiations
  • Not Asking Questions About Tenant Improvement Allowance

Contrary to popular belief, signing a commercial lease isn’t the same as renting an apartment. A lease agreement and the terms you agree to are legally binding contracts between you and a landlord. A landlord who wants to pass as much risk from themselves to you as possible. Huge expenses can incur if you don’t do your homework prior to viewing properties and don’t examine your lease closely.

A commercial lease can be your best friend or your worst enemy depending on how well it’s constructed and combed through prior to signing. You must also always remember that the closer you are to a prior lease expiring, or the sooner you need to move into a space, the more desperate you appear and the lower your negotiation leverage is. Lease & tenant improvement negotiations are best left unrushed with legal representation on your side to represent and fight for your best interests.