234. What Every Business Needs to Know before Signing a Lease Pt. 1 | Brokers Round Table
with Chad Griffiths, Jesse Fragale, and Adam Williams
The Commercial Real Estate Investor Podcast · The Commercial Real Estate Investor Podcast
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Show Notes
Key Takeaways:
Commercial leases are much more complex than residential leases, and everything is typically negotiable
New business owners should assemble a team of professionals (broker, attorney, lender, etc.) to help them navigate the leasing process
Determining the right amount of space for your business can be challenging, so it's important to physically tour spaces and get a sense of the space needs
Landlords typically prefer longer-term leases (5+ years) but may be willing to do shorter terms for new businesses if they have a solid business plan
Having a detailed business plan can help differentiate your business and give the landlord confidence in your ability to succeed