Getting ready to start the negotiation process? Here is some information about what the initial negotiations typically involve:
- Sometimes when you first reach out to a landlord about your interest in a space, they will give you a form listing the lease’s asking terms. The form might include either a response section or attached paperwork for you to fill out counter offer information. Other landlords might simply give you a copy of the listing papers—often in the form of a flyer or ad—with their asking terms.
- When you submit your counter offer, it might be in your best interest to include a letter or some other written communication. This allows you to sell yourself as a tenant, inform the landlord about your business, and make a more personal connection. This is an especially good tactic if you are dealing with a hot property with several interested parties.
- Remember that negotiation often goes back and forth, so plan to be patient. Leasing agents make some decisions on their own, but will sometimes need to consult the landlord, which takes time.
- If is okay to follow up if you have not heard back on your offer in one to two business days, but avoid seeming too anxious or desperate. Bear in mind that listing agents want to move property quickly, so they typically do not need much reminding.
Know what to expect as you begin negotiations to ensure that this process goes as smoothly as possible!
If you need help finding affordable office space in Overland Park, give a DDI commercial real estate broker in Overland Park a call at 913-685-4100 to start talking about available spaces!