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Preparing for the Expected or Unexpected

My Lease is about to expire, what should I do?

  1. Start the process early - The more time you have, the better. Commercial lease negotiations take longer than you think.  
  2. Get well-informed - Get information on market conditions and read your commercial lease contract thoroughly. It’s important that you understand your lease terms.  
  3. Schedule a meeting with the landlord -  When trying to renegotiate a commercial real estate lease, it’s better to do it in person. 
  4. Be prepared to trade concessions - Landlords are not usually willing to give you everything you ask; they will typically want something in return.  
  5. Get some help – Consider hiring a commercial real estate agent and consult your real estate attorney to fine tune your lease terms. 

Phoenix retail vacancy rates to prerecession levels.

Phoenix Business Journal Reports - Southwest Valley shows biggest improvement over past 10 years! 

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What are some financials a Landlord will require?

Application/Business Plan

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Developing a comprehensive business plan determines whether or not your business has the potential to achieve a profit. 

Personal financial statement

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A document or spreadsheet outlining an individual's financial position.

Release for credit history

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Credit reports are obtained to provide a detailed report of your credit history and to determine a tenant's credit worthiness in future rental situations. 

Release for Background Check

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Landlord may require a background check in order to reduce potential risk or liability to Ownership or other occupants. 

Personal and/or Business bank statements

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A Landlord can ask for information such as bank account statements to prove that you are able to afford the rent. 

2-3 years of personal and/or business tax returns

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To verify income on an individual who is self-employed or is an individual with significant income from sources other than W-2.  

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