Lease Signing and Negotiation

If you think lease signing and negotiation for a restaurant lease will be quick and painless, obviously you haven’t done it before. A restaurant lease can last years and years with renewals, and the process can take quite a while as well if you are doing it correctly. Many first time renters may be confused or concerned about monthly price or other simple things about a lease. If your confusion goes farther than your monthly payment, you aren’t alone. Restaurant leases can be pages long and very complicated so it is easy to overlook something important. Even very seasoned restaurant owners take their time before signing a lease so that they can ensure they are protecting all of their assets and that they are getting a fair deal. Don’t let your confusion slow you down, and don’t sign anything you aren’t sure about look to the things in the lease that can be negotiated. There are some things in a restaurant lease that are up for negotiation, and to know these you probably need the help of a commercial broker. The immediate thought in your mind may be that you can not afford to hire a broker, but many landlords hire brokers themselves to help you. If you are looking at a place that does not provide a broker, and you are not going to hire one yourself, there are a few things you should make sure to be aware of because they are important and negotiable items in any lease. To see a list of some of the negotiable items of a lease, look to the National Restaurant Association‘s article.  Also, check NMRA’s online directory for a vendor broker that specializes in restaurants.  More…