Negotiating A Lease For A Commercial Real Estate Space In Sweden
Did you know that leasing an office space in Sweden could be one of your biggest business expenses? Well, if you don’t a terrible job of negotiating your commercial real estate space, you will end up with hidden costs and that might affect your company’s profitability. Here’s the best advice on negotiating a lease for your commercial real estate space in Sweden.
- What are your business needs? You need to write a list of your business needs with regard to space currently and in the future. That way, you can determine your budget and location. Also, you can negotiate a lease that allows you to meet these needs. If you’re not sure about the long-term needs of your business, you should sign up for a shorter lease that allows you to walk away effortlessly.
- Should you hire a commercial lawyer during the lease negotiations? If you don’t have a lawyer in your team, you should consider hiring one to help you with the lease negotiations. Find someone with experience in negotiating leases in Sweden to avoid making any costly mistakes.
- What are the costs involved with the lease? Make sure you understand the costs you’re being asked to pay by the landlord and check whether they fit in with your budget. If there are any future increases in rent and incidentals, they should be specified in the lease. Don’t feel shy about asking for changes if nothing fits what you had talked about.
- Read through the lease and make sure you understand your options carefully. If you don’t understand the terms specified in the lease, make sure your commercial lawyer or real estate agent can explain everything to you. That way, you can avoid any surprise clauses that might cost your business.
- Check the rates in the Sweden real estate market to make sure you’re not being overcharged. Find out what the similar buildings in the neighborhood are asking for rent then compare it to what your landlord is requesting. Even better, you can talk to the commercial realtor to get the updated lease rates. With this information, you can always negotiate for a lower rent, especially if your landlord was asking for a very high rate.
- Do a lot of research on the property before making any payments. For instance, are the tenants and neighbors compatible with your business? Are their competitors? Are there enough parking spaces for your employees, especially with the rest of the tenants available? Talk to the other businesses to find out if there are any issues that might affect your business negatively. Also, you should check into the reputation of the landlord to find out if there are any red flags. You can talk to the other tenants to find out if the landlord is difficult or not.
- Check the termination conditions on the lease. For instance, is the landlord going to kick you out if you are late on paying rent? What will happen if the building is sold? If you know the termination conditions, you can avoid doing anything that might evoke these conditions.