By: Jeff Grandfield and Dale Willerton – The Lease Coach
For many veterinarian tenants, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While a veterinarian focuses on his/her animal patient’s care, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate.
As explained in our new book, Negotiating Commercial Leases & Renewals FOR DUMMIES, tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for a veterinarian tenant as the amount of rent he pays will directly affect the doctor’s financial bottom line.
Whether you are leasing a new location for the first time or negotiating a lease renewal for your clinic, these are some money-saving tips for veterinarian tenants:
Ask the Right Questions: So what are the right questions? Who really owns the property – a local family or a distant pension fund? Who were the last two tenants to move in – and out? Which tenants are not renewing their leases (including property anchor tenants)? Who is leasing month-to-month? Is the property for sale or expected to go on the market soon? Most leasing agents volunteer only one-sided information. Asking questions like these will help level the negotiating field.
Location, Location, Location: For most veterinarians, selecting the right property in the right location is critical enough, but leasing the right location within that building can be even more important to your success. While office-type or industrial tenants do not rely as heavily on location to produce business, a veterinary clinic needs to be visible (to both walk-by and drive-by customer traffic) and easily accessible as well as have plenty of convenient parking. Proper site selection takes time and objective consideration. Remember, your clinic’s physical location is the most difficult point in your lease agreement to change or modify after your opening for business.
For a copy of our free CD, Leasing Dos & Don’ts for Commercial Tenants, please e-mail request to JeffGrandfield@TheLeaseCoach.com.
Jeff Grandfield and Dale Willerton – The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals FOR DUMMIES (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.