1. Fees
Although this should never be the case, high broker fees can hurt a deal as either party may feel like they are paying nonsensical fees. Being up front from the beginning about any costs is essential so that neither party is blind-sided. It is of the utmost importance as a tenant to remember, though, that your broker, if he/she is doing the job correctly, will be saving you time and considerably more money he/she is charging you.
2. Time lines
As we have said in the past, keeping time on your side is crucial. Dragging your feet on a deal could lead to the nightmare of nightmares - not getting the deal done. Being sensitive to returning phone calls or emails and answering any commercial real estate questions can set the clients mind at ease. Avoid the frustration and continue to move forward. The calendar tool of your commercial real estate software could be a great tool to help you stay on track.
3. Reneging
Finding the right space and being sensitive to the tenant's needs is crucial. A huge deal breaker is over promising and under delivering. When speaking to a potential corporate tenant, be honest, stick to the facts. Give only promises you know you can (and intend to) keep.
4. Customer Service
In commercial Real Estate, treating a tenant or potential tenant with respect and outstanding customer service are vital to retaining them as a client. Who wants to make a deal with someone who treats them less than savory or brushes off their concerns? Maintain your relationships, and don't forget that Golden Rule.
5. Rental History
Breaking leases, destroying property, or being a bad neighbor can hurt you in commercial real estate lease negotiations. A bad credit rating or not having the money to put down can also be a reason a deal does not go through. As a tenant, stick to your commitments, and as a landlord, do the same.
