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Blogs by Ed Douyon


Five Tips on How to Negotiate a Commercial Lease

March 5, 2019 / by Ed Douyon posted in Small Business Advice, Manhattan Financial District, NYC - Midtown, Tips for Startups, Business Advice

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If you have a great commercial lease for your business, consider yourself fortunate. And don't take it for granted. Things can change at any time.

I had a client who had been in the same location for more than 20 years when the landlord summarily decided to raise the rent by $25 per square foot. With just a few months' notice, we had to scramble. We found a good building, and the prospective landlord loved my client — but evidently not enough to avoid nickel-and-diming them to death when it came time to sign the lease. I guess the landlord figured he had my client over a barrel because time was so short.

The landlord figured wrong. My client nixed the deal and continued looking. In the end, we found them an even better location, with a favorable sublease. Moral of the story: You don't have to let the landlord call all the shots when you negotiate a lease — even in a tight market like New York City (where my firm operates). The following are five tips to help you get the best terms.

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