This is not the first time I've had to deal with a leasing agent-- but it IS
the first time I've tried to negotiate a shrewd deal for my space-- and I could
use some advice/help.
I'm half way through my 2 year lease in a prominent property in our downtown
district. I'd LIKE to stay here indefinitely. And I'm sure that the landlords
will most likely just not notice me at all as long as I continue to pay my
rent. They'll just let me go month to month at the end of my lease.
However I would like to lock in my rate for as long as they'll let me and
ensure that they won't suddenly decide that having a nail tech in their
building is no longer to their liking.
AND-- and here's where it's getting tricky-- I am making a play for expanding
into the office space next door to me which recently became vacant.
Now here's where I start encountering the madness that is the way things are
done with the building:
The leasing is handled by one company. The management is handled by another
company. And the owners are 3 prominent businessmen in the area who have little
to do with the actual property other than collecting money.
The leasing includes a "load factor" which essentially boils down to being
charged for additional square footage to account for common area maintenance--
they don't do "triple net" or "CAM" fees-- they just charge for more square
footage than you actually have. Which is fine because I hate leases that leave
you not knowing how much you will owe each month!
BUT I have no idea how they determine this "load fee" and the leasing agent
seems reluctant to divulge the "complicated mathamatical formula"-- probably
because they just pull it out of their butts.
For instance: the space I rent is really only 218 square feet. But my lease
says 250 sq ft. The leasing agent's website lists two other offices on the same
floor THAT ARE EXACTLY THE SAME SIZE AS MINE as being 250 square feet-- and the
one next door that I want? they have listed as 287 sq ft. WTF?!
The (leasing agent's) problem is that I have gotton close to my neighbors on
the floor and we ALL know what eachother pays in rent.
So now I'm trying to negotiate a rate for the rent for both spaces for the next
SIX YEARS based on what the massage therapist next to me is paying-- which is
5% less than my current rate. And that's the rate she was offered without
negotiation or committment to a long term lease!
But the leasing agent seems to have almost no personal knowledge of the
building or the individual suites here. And whenever I bring up any information
she just BS's her way through it like I'm being unreasonable.
It is not going to break my heart to walk away from the extra space. I've been
doing just fine so far; no reason to nearly double my rent.
But I'd like to take it if I can get them to agree to the same rate as the
neighbor.
Does anyone have any advice for negotiating with leasing agents?
Maggie Franklin:
Owner & Artist, The Art of Nailz, Visalia CA
"Visionary rebel dreamer; obviously way ahead of my time."
Maggie Rants [and Raves]@Nails Magazine
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