Are you looking for new office space or in the process of renewing an existing one? What has been your experience and what would you do differently if you could go back in time and do it over?
Is it standard to ask the landlord for the previous CAM breakdown on previous years before getting involved with a lease? The place looks not updated, and I want to see what we would be paying for as far as CAM.
Yes, understanding the historical operating expenses will help you understand the total cost of leasing a space. Additionally, it will give you a sense of how these expenses vary over the term of your lease.
Great video. Thank you for presenting both sides. Question: I represent a tenant. The landlord's agent appears to be stalling on presenting our terms to the landlord. He is nitpicking the lease application financials, wanting to know a lot of miscellaneous details, and appears to want to overcharge compared to other spaces in the area. Now he is asking for the business plan and delaying more. My clients are solid, experienced, great credit, and have a year's worth of reserves in the bank. How can I press the landlord's rep to present our terms to the landlord and push this deal forward? It is becoming a bit frustrating. The space has been vacant for maybe 1 year, and, to my knowledge, there are no other interested parties. Do you have any suggestions?
These are great questions, but not super easy to answer in this format. I'd be happy to connect by phone and discuss further...But to achieve the best deal and get fair terms it makes sense to negotiate at multiple locations at once. It is a trick that many listing agents use to slow things down when you want to go quickly, and there may be things going on behind the scenes. They may be being cautious or they may be trying to tee up multiple deals for the Landlord to choose from. That being said, if you presented terms, they should have presented the terms to the LL. What is it about this location that makes it stronger to your client than the other options?
@@mirlorealestatepartners Thank you for your response. My clients have an existing customer base in this area, and opportunity to grow their target audience here. Additionally, this is a great location because it feels safe to customers coming in later evening hours. Unfortunately, it does not appear that the listing agent is taking my clients seriously and continues to put us off -- even though he is satisfied with the business plan, financials and credit. Anyway, thank you for your thoughts.
This is definitely not the norm. I'd need to know more information about the situation to really help. Was the property listed or was it "off market"??
I have a question i am going to an appointment with the gentleman to show me a building i want to rent what are the main questions to ask and how to negotiate and get free rent 6months or longer short and simple also well explained thank you 🙋
Great question! You want to make sure that the gentleman showing you the property only represents you and not the landlord. Many concessions are available to commercial tenants including free rent, tenant improvement dollars, reduced rent and escalations, etc. To achieve a deal with the most concessions, you and your agent will need to fully vet multiple spaces and negotiate hard on the specific points that are most important to you. Understanding the market better than the Landlords you are negotiating with will help guide you to the best terms. To best answer your question, I'll need more details for suggestions to go about it. For example, do you need the free rent to cover costs to build out your suite or simply to ramp up operations? What is the condition of the space? How long of a lease term are you comfortable signing? All of these variable play into the terms you will ultimately receive. If you have specific questions about your situation feel free to email me directly at blackbirds@mirlorep.com
Are you looking for new office space or in the process of renewing an existing one? What has been your experience and what would you do differently if you could go back in time and do it over?
I would like to contact you directly to get more help in learning more about renting etc
Nice ! Thanks for the help
No problem 👍
Is it standard to ask the landlord for the previous CAM breakdown on previous years before getting involved with a lease? The place looks not updated, and I want to see what we would be paying for as far as CAM.
Yes, understanding the historical operating expenses will help you understand the total cost of leasing a space. Additionally, it will give you a sense of how these expenses vary over the term of your lease.
How much commission percent charge on commercial??
Hi Shaik, it depends on the deal. Typically, total is 6 or 7%, split between Tenants and Landlord's agent.
My go-to realtor!!!
Ha - love it. I really appreciate your mentorship!
@@mirlorealestatepartners sorry I am just a TH-camr. You must be talking about the guys at @agentontube
Great video. Thank you for presenting both sides. Question: I represent a tenant. The landlord's agent appears to be stalling on presenting our terms to the landlord. He is nitpicking the lease application financials, wanting to know a lot of miscellaneous details, and appears to want to overcharge compared to other spaces in the area. Now he is asking for the business plan and delaying more. My clients are solid, experienced, great credit, and have a year's worth of reserves in the bank. How can I press the landlord's rep to present our terms to the landlord and push this deal forward? It is becoming a bit frustrating. The space has been vacant for maybe 1 year, and, to my knowledge, there are no other interested parties. Do you have any suggestions?
These are great questions, but not super easy to answer in this format. I'd be happy to connect by phone and discuss further...But to achieve the best deal and get fair terms it makes sense to negotiate at multiple locations at once. It is a trick that many listing agents use to slow things down when you want to go quickly, and there may be things going on behind the scenes. They may be being cautious or they may be trying to tee up multiple deals for the Landlord to choose from. That being said, if you presented terms, they should have presented the terms to the LL. What is it about this location that makes it stronger to your client than the other options?
@@mirlorealestatepartners Thank you for your response. My clients have an existing customer base in this area, and opportunity to grow their target audience here. Additionally, this is a great location because it feels safe to customers coming in later evening hours. Unfortunately, it does not appear that the listing agent is taking my clients seriously and continues to put us off -- even though he is satisfied with the business plan, financials and credit. Anyway, thank you for your thoughts.
The broker informed me that i have to pay 2 brokers fee. Is this a scam?
This is definitely not the norm. I'd need to know more information about the situation to really help. Was the property listed or was it "off market"??
I have a question i am going to an appointment with the gentleman to show me a building i want to rent what are the main questions to ask and how to negotiate and get free rent 6months or longer short and simple also well explained thank you 🙋
Great question! You want to make sure that the gentleman showing you the property only represents you and not the landlord. Many concessions are available to commercial tenants including free rent, tenant improvement dollars, reduced rent and escalations, etc. To achieve a deal with the most concessions, you and your agent will need to fully vet multiple spaces and negotiate hard on the specific points that are most important to you. Understanding the market better than the Landlords you are negotiating with will help guide you to the best terms. To best answer your question, I'll need more details for suggestions to go about it. For example, do you need the free rent to cover costs to build out your suite or simply to ramp up operations? What is the condition of the space? How long of a lease term are you comfortable signing? All of these variable play into the terms you will ultimately receive. If you have specific questions about your situation feel free to email me directly at blackbirds@mirlorep.com
Get to the point. I know why im here!
sorry, I'm new at this!
@@mirlorealestatepartners My bad, I was probably stressed as hell. Thanks for the vid.
Are you reading a script? Lol
yes!