Hi I was offered this nice retail space for $1700 I am a internet business. the last renter was in the spot 20 years covid closed him. The actual property agent really wants someone that will be there for a long time. I like the place but it is in really bad cosmetic condition. They are willing to negotiate with me if I did a lot of the painting and work my self but my only problem is no matter what after getting the credit for the few months free rent to paint to fix up the place . I still need time to run the business to make money. the rent is still above my budget and I cannot guarantee 1700 for right now what more can i negotiate? being they really just want some to occupy the place for a long time. that is their main concern. I would stay there but I can only guarantee half no matter what the business do to stay in the place. what more can I do???
That would be a question for the Landlord. Most Tenants will use the free rent period to do their build out. But I have seen national companies have a 6 month construction phase followed by a free rent period. Perhaps you could ask for more free rent up front, but be willing to pay slightly more rent when it turns on. Another idea is to ask the Landlord to do the construction for you and then spread that cost over the extent of the lease term. Lowering the overhead right before opening takes significant pressure off businesses.
Hi 🙋i have a question about renting a building i made an appointment with a gentleman that will be showing me the building. September 11 2021 a.m. im very new to this and i am so eager to get my business going it's for children to have fun and and be kid's.i want to do 6months free or longer also i need to decorate and customize i would love to see if companies like bill gates to help fund also the cigarette companies as well
Your commercial real estate videos are informative and worth the watch for those in the market.
Thank you so much for this video!!! We’ve found a property for our new business and this video answered a lot of questions. Thank you so much!
this was very helpful thanks man
Thanks for making this a short simple informative video
Thank you, quick and simple to understand! ✨
What is the specific verbiage you should use when requesting abatement?
What would you recommend if a space been sitting on market since February and the space needs to be remodeled??
This was good information
Hello I have a question are they still helping people with small business rent please let me know thank you
Hi I was offered this nice retail space for $1700 I am a internet business. the last renter was in the spot 20 years covid closed him. The actual property agent really wants someone that will be there for a long time. I like the place but it is in really bad cosmetic condition. They are willing to negotiate with me if I did a lot of the painting and work my self but my only problem is no matter what after getting the credit for the few months free rent to paint to fix up the place . I still need time to run the business to make money. the rent is still above my budget and I cannot guarantee 1700 for right now what more can i negotiate? being they really just want some to occupy the place for a long time. that is their main concern. I would stay there but I can only guarantee half no matter what the business do to stay in the place.
what more can I do???
Is it possible to start construction before the abatement months begin?
That would be a question for the Landlord. Most Tenants will use the free rent period to do their build out. But I have seen national companies have a 6 month construction phase followed by a free rent period. Perhaps you could ask for more free rent up front, but be willing to pay slightly more rent when it turns on. Another idea is to ask the Landlord to do the construction for you and then spread that cost over the extent of the lease term. Lowering the overhead right before opening takes significant pressure off businesses.
@@pocketbroker5178 Nice advice. Thanks
What's a good standard for getting free rent like for a 3 or 5 year lease.. 2 or three month ?
I wanna say yes. A real estate broker told me a person can get up to 3 months free if you negotiate.
Hi 🙋i have a question about renting a building i made an appointment with a gentleman that will be showing me the building. September 11 2021 a.m. im very new to this and i am so eager to get my business going it's for children to have fun and and be kid's.i want to do 6months free or longer also i need to decorate and customize i would love to see if companies like bill gates to help fund also the cigarette companies as well
What do you think market conditions are now in 2023?