Sometimes landlords would like tenants to believe the rumors about the commercial real estate industry. These falsehoods can lead to confusion and greater costs. Here are five common real estate myths we have dispelled to help tenants negotiate with landlords in Colorado Springs, Denver and other Colorado areas.
Myth 1 — No other property will work for you.
Landlords can try to convince tenants that no other building or location will work for them. To get them to sign an unsuitable lease, landlords may even say other potential tenants are clamoring to lease the space for more money. The truth? There are most likely many properties on the market that will fit your needs. Finding qualified and reliable tenants can take many months or even years.
Instead, the landlord should work to keep their current tenants happy.
Myth 2 — Representation is not needed or allowed
Some landlords can try to bully potential tenants into thinking they can’t use or don’t need representation. That is far from true. Commercial real estate transactions often cover a multitude of topics and are sometimes confusing. Representation is always available and very helpful to tenants during most commercial real estate negotiations. Our commercial brokers can ensure terms are fair and meet your needs. Plus, we can protect your business from overpaying.
Myth 3 — The landlord is your new best friend
No matter how trustworthy and friendly they may seem, landlords want as much profit as possible for their leasing space. Sometimes tenants are surprised to learn landlords put their own financial interests first in every case. When proper representation is secured, tenants will receive the most favorable terms possible without any surprises.
Myth 4 — Your leasing rate is already fantastic
Many landlords tell their tenants they are offering their best leasing rate possible. Often that is not true. With the help of our staff of real estate professionals, we can often improve Colorado Springs and Denver leasing rates. Our commercial real estate experts can review the current market and negotiate a lease that satisfies your needs.
Myth 5 — Renewal leases cannot be negotiated