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#448443 - 10/23/15 03:42 PM Advice negotiating fee for lease renewal
CaliforniaAgent Offline
Junior Member

Registered: 10/23/15
Posts: 3
Loc: California
Any tips? Client has been at this center for 14 years which was two back to back 7-year leases. Lease is up in Feb and he approached me to negotiate on his behalf. He's never had representation before and the main term he's dissatisfied with is having to give a personal guaranty. (I think after 14 years as a great tenant, we have a strong shot of negotiating that term away and allowing him to just sign the lease in the name of his corporation.)

Landlord is a large corporate entity located out of town. I'm trying to figure out the best approach to have a shot at getting them to pay my commission.

Thank you for thoughts and advice - J.

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#448446 - 10/24/15 03:01 AM Re: Advice negotiating fee for lease renewal [Re: CaliforniaAgent]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
After 14 years with this Tenant, expecting the Landlord to now pay your Commission is a long shot . . . . how much do you charge for this service on behalf of the Tenant ?

Is the Tenant (referred to as a "Client" by you) willing to pay you for this service, or did you already convey to him/her that your service will be "free" ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#448469 - 10/25/15 03:02 PM Re: Advice negotiating fee for lease renewal [Re: Vermont]
CaliforniaAgent Offline
Junior Member

Registered: 10/23/15
Posts: 3
Loc: California
Hi! I am meeting with him this upcoming week and the options I plan to lay out for him are: continue to negotiate on his own as he's been doing this past 14 years; hire a real estate/business attorney to represent him on an hourly fee basis (I am an attorney which is why he contacted me initially, but I would refer him out since this isn't my main practice area); use me as his realtor to negotiate on his behalf ($0 directly paid by him, any fee earned paid by LL); move to a new location on lease; or buy his own building.

He's 43 years old, wife has a steady corporate professional job, he's been a dentist 15 years, so I think he'd be really smart to buy.

I am very comfortable with the nature of a 100% commission world so I am willing to sink some risk (my time) with the potential of a possibly very large payoff. Or no payoff. All depends.

I think the only way LL will pay a commission to me is if they truly believe he would walk. We are in a very small professional community here so I think LL will learn that he is looking elsewhere....

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#448545 - 10/28/15 01:38 PM Re: Advice negotiating fee for lease renewal [Re: CaliforniaAgent]
CaliforniaAgent Offline
Junior Member

Registered: 10/23/15
Posts: 3
Loc: California
Quick little follow up -- super exciting that he would like me to find either a building or land for him. This was a good lesson for me that I could earn a small hourly fee now OR a potentially much larger commission later. His time frame is fast -- needs to find something to buy before his lease is up so he doesn't need to renew. I am :) today.

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#448550 - 10/29/15 01:08 AM Re: Advice negotiating fee for lease renewal [Re: CaliforniaAgent]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Buying raw land for the purpose of erecting a commercial building into which he can move when his current 7 year Lease expires doesn't sound like a quickee solution . . . . that can easily consume 2 to 3 years AFTER you've located the appropriate site.

It all depends upon availability and how restrictive the Land Use Regulations, Zoning Bylaws, and development procedures are that you'll have to comply with.

And you may find yourself negotiating a few 1 Year Extensions in order to bring this Project in for a soft landing.

But it's good experience.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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