Standing in the Landlord's Shoes: Seeing Yourself as a Prospective Tenant.

AuthorGrandfield, Jeff
PositionREAL ESTATE

Securing a commercial tenancy isn't always an easy process. For one, landlords and tenants have different motivations. For landlords, owning commercial property and leasing space to tenants is their primary goal. For tenants, however, leasing space is not the primary goal. Instead, the commercial tenant should focus on running a profitable business or providing great service. The property is a place to attract customers to your business--it's not an end unto itself. Commercial tenants don't always want to lease space; it's simply a requirement if they want to see their business goals come to fruition--a means to an end, if you will.

Therefore, landlords and commercial tenants are not equal. The tail can't wag the dog. If the landlord is the dog, then the tenant is the tail. And, as we know, dogs chase their tails. Consider that a commercial tenant typically only has one landlord, whereas a commercial landlord may have hundreds (or even thousands) of tenants. The relationship between a tenant and landlord is not like an equal marriage with common goals.

It amazes us how, during the leasing process, many landlords avoid meeting their tenants in person--and most tenants avoid meeting their landlords. When it comes to new lease deals, often there's a real estate agent (or two) brokering the deal between the parties. Rarely, in our experience, does the agent try to bring the landlord and tenant together to meet personally or to even talk by telephone. Being busy is no excuse. If a tenant isn't creating a relationship with the landlord and making deposits to that relationship, how can the tenant ever expect to make a withdrawal when they need a favor?

How to Encourage a Landlord to Approve Your Tenancy

Sweeten the pot. If you have an existing location and the landlord is local, invite him to come visit you to see your operation. Giving a gift certificate for your business can also work well for new and start-up companies and can make you look good.

Explain your business concept. Are you opening an independent business or joining a franchise? Do you have a successful business history? Are you offering something different that your...

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