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5 tips to make an offer on a new office space

Posted by elkhartindiana on June 29th, 2020

South Bend is the fourth largest city in the country of Indiana, which is rich in American history and culture. The city is beautiful and it has become one of the popular tourist destinations in the country. People often love the location for its beauty but surprisingly, it’s a huge business hub for the investors. It allows both residents as well as foreigners to invest in the business. The facilities, government rules, and regulations are favourable for all.

If you are also planning to start a business, South bend would be the best destination for you. You will get a great business environment along with all the required facilities. Also, you will get a perfect South Bend Indiana Office Space on lease.

But, the problem is the lease amount and negotiation for the same. Being a smart business investor, you will always look for a cheap office space for lease with all the facilities. It’s because you have to keep a balance in your capital and the budget. Sometimes, you love the place, environment, square meter but make mistakes while striking the deal. You believe that the amount mentioned by the leaser is the final amount and you cannot make changes in the same. But that’s not the case. You should prepare yourself to make an offer and get the best deal.

The tips to prepare are:

Take it as your homework and complete the details beforehand

You should research and check the prices for similar commercial properties in the same area where you have selected your office. You should learn about the features of commercial lease and stay updated with related terminologies. Also, it’s better to know about the clauses that are applied to such properties. It will help you cross-question the dealer and get the details.

Organize and seek help from real estate experts

You should keep your financial documents like a bank statement, tax return, credit information, and other related papers to keep before the landlord if asked. These are a few common documents that you should be prepared with; the landlord might request something else. Further, you should professional assistance from real estate experts. They will help you know whether the property selected by you is right or not and they will navigate you through other options.

Prepare the letter of intent

You should prepare a letter of intent with the help of the lawyer which will show that you are serious about the property but not bounded by the same. With the help of this document, the landlord will not be allowed to seek another deal while negotiations are underway. The letter will have information like a description of the property, rental start date, length of the lease, and so on.

Be confident to negotiate the amount

We already said that it’s not necessary to accept and finalize the deal on the amount mentioned by the landlord. You should learn and prepare to negotiate with confidence. In case, the landlord is not ready to reduce the amount, you can ask to extend the lease term. If not that, you should include a clause that will implement a cap on rent increase.

Finally, finalize the lease

You should thoroughly check the property and negotiate the amount and at last, ask your attorney to prepare the agreement for finalizing the deal. Here, the advice from the commercial lease expert will be valuable and you will be confident in the deal. 

So, we hope that with the help of these tips, you will make a perfect offer for the South bent Indian office space.

Also See: South Bend, Office Space, Real Estate, Perfect South, Lease, Business, South

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