1. Not getting good representation
If you decide not to hire a real estate professional and negotiate the lease terms by yourself you are putting yourself at a disadvantaged position. Landlord is usually represented and you want to be represented too. You should work with a real estate professional so that he/she can understand your business better.
Perhaps perform a needs assessment of your business. Your real estate consultant will advice you on what are your options. The real estate adviser might suggest to buy or lease; or what should be the size of the property; or location; negotiation strategy and more.
2. Misunderstand what your interests are
Your real estate professional will be in a much better position to advise you as to what is in your best interest. Your advisor is an independent consultant and therefore better equipped to give you unbiased opinion. For instance, considering the lowest price per square feet might not necessarily be the best option for you; additional rent (TMI) might be higher; the building might be old; the ceiling might be too, etc.
3. Not acting fast to secure units
6. Industrial properties are in high demand in today’s hot market. Finding space that meets your requirements is hard to come around. Once the property hits the market, we will contact you to arrange showings immediately. We need your full cooperation to be available and dedicated in finding the right space for you. Sometimes, these type of special properties comes in the market once in a while and we may ask you to make a conclusive decision with a short notice. We need your commitment and loyalty to protect your best interest by finding the right property for you.
4. Not reading the fine print before signing
The lease/purchase agreement prepared by the landlord is complex and complicated. You need to work with a consultant to understand the terms better. More over, your real estate professional might have a good understanding of the property, lease terms and maybe even the landlord. This information is priceless for you as it might prevent a whole lot of headaches for you and your business in future.
5. Underestimating your purchasing power
If you have been in your business for a while, buying your own unit might be the best option for you. If your lease term is up, instead of renewing, you may explore the purchase option. We can help you to see what is available for purchase for you. You may expand your business in your own unit, instead of someone else’s. Please keep in mind that there might be financing options available that you may not be aware of. We can share some of our contacts with you to make your purchase smoother.
6. Not considering preconstruction units
With current trend in favor of industrial real estate, there is high interest from developers to build new units. We anticipate that a wide range of projects will be coming up across Greater Toronto Area. Our focus is industrial properties, specializing in preconsutruction industrial condos. We have access to developers and we can bring the upcoming projects to your attention much before it hits the market. Preconstruction industrial condo project is what we are known in the market. You will be in the best hands in the market for what you are looking for.
7. Not understanding the “Tenant Improvement” Clause
