Commercial Corner: Keeping Deals Fair, Yet Profitable
With the economy showing positive signs of recovery, savvy business owners and professionals are getting smarter about where they put their office and how to run it more efficiently — and for half of the expense.
They are asking for lower rents, more benefits and less responsibility.
With the surplus of office space available, renters are now in a place of negotiating power when it comes to leasing a commercial space. However, there are a few things that you as a property owner can do to make sure that you keep your negotiating power in place and keep it fair, yet profitable for you.
1. Change name for type of office space
By adding in higher level titles to an office space such as an “Executive Suite” or “Commercial Loft,” you can give more value to the space as well as make it more attractive. By placing more of a “city style” approach in the marketing of your space, you can attract larger prospective tenants. This can also help you create more of a demand for the space which puts you in a better place when it comes to who you lease to and exactly what the terms should be.
To read the entire article, please visit AZnow.com, where I have a monthly column- view here!
Thank you for stopping by and reading this article. Feel free to share, like, post, comment.
Regards,
Pete Baldwin
Designated Broker
Platinum Realty Network
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