This Business News Story Was Uncovered By Us From: http://feedproxy.google.com/~r/entrepreneurshiplife/feed/~3/Fj0An6s4-zI/
We hope this Editorial, that was exclusively found for you, to think of Directions to add Energy into your own online business venture.
Your landlord’s only business
is making money in exchange for space. They don’t want any competition and they
most certainly don’t want you making more money off of your space than they
would.
They will put all sorts of
failsafe measures in place to try to stop you from subletting your commercial
space, and most likely fill your lease with deterrents.
However, some of these have a backdoor and you can still get away with leasing your space, albeit not for much (or any) profit to you. To help you find a way, here are some tips on subletting commercial space and some of the most common terms you will see in your commercial lease.
1. Cannot
Discount Your Net Rent
As we said, your landlord
does not really want you to offer this space at a rate lower than they could
offer.
There are several ways around this by sweetening your deal elsewhere. Let’s say you’re currently paying $125.00 a square foot. You would love to attract sublets by offering it at $100.00 per square foot, but that would be a discount and you can’t do that. You can, however, offer a month or two of free rent as a cost-savings incentive. Or you can get creative and offer things to make the rate more agreeable, as long as these incentives don’t go against anything else in your lease terms.
2. No
Subletting, if the Landlord Has Competing Space
It’s almost impossible to
define exactly what a “competing space” is in this regard.
In theory, any other space in
a large mall could be considered competing, even if one is a 700-foot office
space upstairs and the other is a 2700-foot restaurant space on the ground
floor. Something on the same block could technically be considered competing.
For this reason, we typically
advise our clients to negotiate to remove this from the lease at the v… Read More
Pick up tips on how to generate more money. An extra job, work from home and create numerous passive income streams that produce enough money. Get your side hustle on.
