3 Easy Wins To Improve Commercial Leases Negotiations
You are in the middle of negotiating a lease when all of the sudden, the deal starts moving at a turtle's pace and is taking days for the other side to respond. Clients get mad and you end up working double for something that should have been wrapped up days ago. There are several reasons deals often slow down during lease negotiations; these are some easy solutions to negotiate better.
Address Lease Terms Early
Be upfront when negotiating a lease and do not beat around the bush. These days more and more landlords are responding with RFPs that are their best and final offer so they do not lose the deal. This saves time on both sides and creates a very clear picture of the type of deal in place without playing the negotiation game. This strategy is great because you save time and you do not have to hide anything. Hint - be ready to compromise on some items just in case and be ready with a counter offer in advance. Also, it is much easier to work out problems early versus when legal council gets involved...
Eliminate Negotiation Bottlenecks
Sometimes small to mid sized leases get lost and pushed aside because larger projects take priority. They pile up and over time lead to bottlenecks that can significantly lower an organization's productivity. Brokers become stressed which increases the risk of mistakes since even small deals require detailed analysis. To avoid this, try to automate tasks whenever possible so you can keep deals moving forward regardless of their size.
Leverage Negotiation Technology
Finding ways to maximize technology leads to cleaner work and lets you do more in less time. Being able to see all your deals in one place saves you the time of following up and budgeting workload forecasting. Automating your financials analysis lets you quickly compare options and see what the total cost of the project will be so you can track patterns and find improvements. Being able to eliminate manual tasks, like data entry, increases transparency and optimizes your value as a broker.
LeaseOps is the first automated leasing service that allows you to transact directly with landlords and negotiate online, helping people lease smarter. The platform offers landlords and tenants the easiest way to lease space, completely free. Created by two industry veterans who got tired of updating spreadsheets and paying for expensive software, the site aims to help people make smarter financial decisions. Changing the way we think of real estate negotiation by integrating smart contracts, LeaseOps makes it easy.
For more information, please visit www.goleaseops.com