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Facts on Leasing Commercial Real Estate in Anchorage: Signing a Lease

22 Sep 2014 · by Chad Graham

If you want to drive your business home and get a large slice of the consumer market in Alaska’s most populous city, it’s important that you have a good base of operations from which to get it all started. Leasing commercial real estate in Anchorage as a tenant isn’t just about choosing a plot of land, too, since you will have to deal with your landlord. First of all, check the lease before you even sign in.

Commercial Lease

Lease versus Rental

You should dispel the fallacy that a commercial property lease is pretty much like a residential rental. For one, the monthly cost of leasing an apartment space will only involve basic accommodation and utility cost, but a commercial space will involve much more, so it’s best to check your lease carefully to get an accurate break-down.

Termination

Commercial properties have an added risk for landlords, because should the tenant’s business fail, there’s practically no other reason for the tenure to continue, so landlords often have fixed lease periods. Consultant firms like Graham Commercial Real Estate will tell you, however, that an exception could be made if it’s clearly stipulated in the lease agreement.

Negotiation

Don’t be afraid to haggle on cost and certain stipulations of the lease agreement. Here are some tips from business law expert Jean Murray, written in her article at About.com:

Just because they gave you a lease, does not mean your negotiation is over. Many of the terms in the lease are still negotiable. When you’re reading it, make a list of all the provisions you don’t like and send it to your landlord. You may be surprised by how much they are willing to change.

Space

Ask how the landlord has calculated the commercial space you can use, as this is the main determining factor for the cost. You might even want to hire an expert to see that the measurement is indeed accurate and that it doesn’t include any ‘ghost’ space (you might be surprised how many tenants pay for space that exist only on paper).

Repairs and Maintenance

You should also check the lease provisions regarding repairs. Don’t simply assume that the landlord will take care of any repair or maintenance needs of the property by default. Sometimes, landlords will pass the responsibility onto you, or charge you a fee for repairs. Weigh in which you think is best and negotiate for it.

Leasing a commercial property, especially for first-timers, can be quite complicated. Thankfully, there are professional consultants from established companies whom business owners or tenants can work with. From Anchorage property management to tenant representation, such professionals will see to it that their clients get the best possible deal.

(Source: Before Signing a Commercial Lease, About.com)

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