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Tips for renewing a commercial lease

For many brick-and-mortar business owners, the location of their business is a key factor in their success. Many have a vested interest in maintaining their address over time, which means that renewing their commercial lease is critical to their overall success. Here are a few tips for Georgia business owners looking to increase their odds of a smooth and positive lease renewal. 

  • Get ahead of the renewal: When tenants remember a renewal in advance and bring it up first, they are often putting themselves in a better position. Waiting for a landlord to bring it up could leave an owner more open to rent increases or other changes. Being the first one to the table for any negotiation, and maintaining a positive and considerate disposition, will start the conversation off right. 
  • Work with professionals: Real estate brokers and business lawyers are both useful to have on hand when it comes to renewing a commercial lease. These individuals can not only look out for a tenant’s interests but can also make sure the contract being signed is fair and beneficial. 
  • Be direct: It is understandable for tenants to be interested in reviewing other options around the end of their lease. However, being wishy-washy about intentions to stay can make landlords tentative. Those who would consider looking for other spaces should do so in advance, so they have a clear answer when the notice period arises. 

Of course, there may be situations when a tenant wants to end his or her lease while remaining on good terms with the landlord. Landlords may also have concerns when it comes to lease renewal periods. Regardless of one’s position, competent legal advice from a Georgia business/real estate lawyer can be a benefit to maintaining a professional and legally sound renewal.  

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