Consult with Kevin Mask

As an owner ROI is your fundamental driver for both income and your personal time, so it is vital to work with a commercial broker to avoid making time consuming and costly mistakes... 

Let us find your ideal tenant that is both credit worthy, an asset to any other tenants you may have, and who will take great care of your property.

Determine Lease Terms: Work with your commercial broker to define the lease terms you're willing to offer, including lease duration, rental rates, lease incentives, maintenance responsibilities, and any additional terms or conditions. Consider market conditions, comparable rental rates, and the property's features and amenities when setting lease terms.

Market the Property: Your commercial broker will develop a comprehensive marketing strategy to attract potential tenants to the industrial property. Utilize online listings, commercial real estate websites, signage, and targeted advertising to reach a wide audience of prospective tenants. Highlight the property's key features, location advantages, and potential benefits for tenants.

Screen Potential Tenants: Your commercial broker will help you screen potential tenants to ensure they are qualified and suitable for your industrial space. Require prospective tenants to complete a rental application and conduct background checks, credit checks, and reference checks to assess their financial stability, business history, and suitability as tenants.

Negotiate Lease Agreements: Once you've identified interested tenants, work with your commercial broker to negotiate lease agreements and the terms included with that protect your interests as the property owner. Address any concerns or requests from tenants while ensuring that the lease terms are fair and reasonable.

Prepare Lease Documents: Have your commercial broker, with or without your real estate attorney, prepare lease documents outlining the terms and conditions of the lease agreement. Ensure that all relevant details, rights, and obligations of both parties are clearly defined and documented in the lease agreement. Review the lease documents with the tenant and address any questions or concerns they may have before finalizing the agreement.

Execute Lease Agreement: Once the lease terms are agreed upon, execute the lease agreement with the tenant. Ensure that all parties involved sign the lease documents and that copies are provided to both the landlord and the tenant for their records.

Collect Security Deposit and Rent: Collect the security deposit and initial rent payments from the tenant as per the terms of the lease agreement. Ensure that the security deposit is held in accordance with applicable laws and regulations, and that rent payments are processed promptly and accurately.

Renew or Terminate Lease: As the end of the lease term approaches, evaluate whether to renew the lease with the existing tenant, negotiate new lease terms, or seek new tenants based on market conditions and your long-term investment goal. Consult with your commercial broker when making this decision so you avoid costly mistakes.