ASCP Skin Deep

July/August 2013

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All too often, estheticians aren't even aware negotiation is an option when leasing. 4. Never Accept the First Offer Even if the price or incentive seems reasonable, never accept the leasing agent's first offer. This figure is not what the agent seriously expects you to agree to (although he or she will be overjoyed if you do). It is inflated because you are expected to make a counteroffer. Counteroffers are all part of the game. Ask for something better than you want. If the landlord is offering one month of free rent as an incentive, and you want three months of free rent, ask for five. Prepare to be told "no" and given another counteroffer. 5. Negotiate the Deposit Large deposits are not legally required in a real estate lease agreement, and the amount is always negotiable. Landlords and agents often angle for a large deposit because it can be used to cover the agent's commission. If you are negotiating a lease renewal and your landlord is already holding a deposit of yours, negotiate to get that deposit back. 6. Be Prepared to Walk Away Try to set aside your emotions and make objective decisions. In any negotiation, the side that needs the deal the most will end up making the most concessions. 7. Take Your Time Leasing commercial space is a process, not an event. The more time you have to put the deal together and make counteroffers, the better chance you have of getting what you really want. Too often, tenants make the mistake of trying to hammer out the deal in a single marathon session. It is more productive to negotiate in stages. Do not be swayed by the agent trying to create a sense of urgency or telling you a decision must be made on the spot. Many of these negotiating strategies will also be applicable to other aspects of your life as a business owner, and with so much rent money at stake, it's worth taking the time to educate yourself. Finally, don't forget to have your lease documents professionally reviewed before you sign them—then you can confidently close the deal and move into your wonderful new spa. Dale Willerton is a lease consultant, professional speaker, and the author of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Contact him at 800-738-9202 or visit www.theleasecoach.com for more information. Want More? Email the author at dalewillerton@theleasecoach.com for a free CD: Leasing Dos & Don'ts for Commercial, Retail & Office Tenants. SkinDeep_JA_2013.indd 33 Get connected to your peers @ www.skincareprofessionals.com 33 5/15/13 4:25 PM

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