Book Description
This book is written to de-mystify the commercial leasing process for the commercial tenant. Today the Internet offers commercial tenants access to multiple data bases of commercial space for lease, more and more of which is offered directly from the owners of the property. Many of these owners have a strong background in real estate which most commercial tenant's lack. I’ve observed that many times when a prospective tenant finds space on their own they simply do not know how to go about leasing the space and must rely upon the owner or the owner’s broker to get them through the process. Sometimes this works, but because of the inherent tensions between landlord and tenant in a negotiation the transactions often fail. This guide will help equalize that situation and show you what to do and how to proceed when you want to find an office, industrial or retail space to lease on your own. Whether you are leasing commercial property on your own or using the services of a broker, this book will serve you well because leasing is a very different kind of real estate transaction. In most real estate transactions some form of binding agreement is made early in the process, such as in the purchase of property. A buyer tenders an offer in writing with a purchase contract and deposit receipt to seller. The seller either accepts the offer or counter offers go back and forth until there is acceptance. When the terms of this binding contract have been met the property transfers to the buyer. While this some times happens in leasing, most often, a series of non-binding proposals go back and forth outlining general business terms and at the end of the leasing process a rather lengthy contract is produced. This contract, when executed, defines the ongoing rights and obligations of the parties to each other for a period of time. During the time the contract is being negotiated, reviewed by legal counsel and finally completed, there is much to do and much that can go wrong.
This book will take you through the steps involved in the leasing process; teach you about the most important business points in a lease negotiation; show you how to create winning proposals; and give you some useful negotiation tips. I’ve also included some useful checklists and defined the jargon for you. Leasing commercial property on your own is not overly complex, but it does take some knowledge and skill. Not surprisingly, the owners or their brokers will have that knowledge and skill, however, you must level the playing field and this book will help you do that. Lease transactions are interesting and can be fun and creative. My hope is that with the help of this book leasing a commercial space will be fun for you too.
Average Customer Review:
2 of 2 people found the following review helpful:
Navigating Commercial Property Leases, 2004-08-09
Attention: Any one entering the Commercial Real Estate business must have this Book. It's the best book I have read on Commercial real estate concerning leases and in general.
Very enlighting for the novice or experienced broker. Excellent choice for tenants who are considering relocating to another office or want to renegotiate with their present landlord. Very informative to all who are in any profession.
Mike N.
2 of 2 people found the following review helpful:
Best of the bunch!, 2002-10-19
Recently, I read through several of the leading books on the subject of Commercial Property Leases, a subject that was a complete mystery for me. This book was the BEST, with clear explanations, strategies, and usable checklists. Mr. McComb has a way of explaining the subject that helps to clear the questions from your mind.Wayne Gralian
Wayne's World of Books / Krakow RPGs
5 of 7 people found the following review helpful:
Thousands of copies sold, 2002-04-27
Please ignore the one star review from Mr. Hansson, as he is obviously and shamelessly promoting his own brokerage business by slamming the legitmate work of others. He has never actually purchased a copy of the book. The book has been reprinted several times and there have been thousands of copy sold. It is just right for those seeking a fast overview of the leasing process to manage a trainsaction brokered or not.
5 of 23 people found the following review helpful:
Don't Waste your Money, 2001-12-24
This book is too general to serve any real user of office space. You would be better off educating yourself on the market and how to negotiate effectively through free web sites such as Pikenet, and Starboardnet.com.
4 of 5 people found the following review helpful:
A must read for all business decision makers, 2001-12-22
This concise and easy to read guide for leasing commercial space is a must read for any business owner or executive who is interested in understanding the basics of a commercial lease. Any search for new space and the lease negotiation process will go much smoother. Being educated in these matters will save some serious money and time. Any industrial, retail or office space user will benefit.
All nuts and bolts...no puffery...should be required reading for all business students. Highly recommended! A very good investment!