For most small business owners, negotiating a building lease can be an intimidating and arduous process. First-time lessees may not be aware of the types of leases available to them or the potential opportunities to renovate, improve cash flow, or offset initial costs. Negotiating with landlords, who put their own best interest first, can be time-consuming and take business owners’ attention away from important core business tasks. But, what can a small business owner do to streamline this undertaking?
Host Mary Foley discovers the secret to simplifying a property lease as she speaks with Elizabeth Morrison of RE/MAX Heritage about what can be confusing, but necessary to running and growing a business, including finding the right location and negotiating lease terms that for work for you, not against you.
Elizabeth is a self-proclaimed commercial and residential real estate geek. When her father, also a real estate agent in New Orleans, suggested she chip in towards the cost of her education at Tulane, she got her real estate license and has been working as a professional in the industry since 2001.
Listen and Learn:
- The different types of leases available and the pros and cons of each
- Common landlord responsibilities
- How to negotiate percentages or caps on maintenance fees
- How utilities are handled in large spaces versus office spaces and retail centers
- The benefits of hiring a leasing agent or attorney
- Finding the right space: Leasing a newer or older development
- The biggest mistakes people make when leasing space and how to avoid them
Connect with Elizabeth at LizMorrison@Remax.net
MEET OUR P.O.W.E.R. PLUG HOST...
Mary Foley —
Known for her insights, candidness and humor, Mary Foley energizes women entrepreneurs with the clarity, confidence, and tools to attract, engage, and win more clients. In addition to hosting the P.O.W.E.R. Plug podcast, Mary is the author of three books, energizing keynote speaker, business mentor and lover of red capes. For more, go to maryfoley.com.
The information contained in this P.O.W.E.R. Plug Podcast expresses the opinion of the author and does not constitute advice from or the opinion of Fidelity Bank.