Looking at a 1,000 sf office space and need advice
The rent is 1,100.  The place is kind of a dump and needs a lot of improvements.  How should I negotiate with the owner?  Ask for lower rent?  He's really nice so that helps but I don't want to dump a ton of money in something I may only use for a couple of years.  I really need to rent the space and there's nothing else available.
[{"id": "gzuiou0", "text": "Higher a broker. The Landlords pay the commission.", "replies": [{"id": "gzvbbem", "text": "That will likely take away from any free rent/ti. And at $1,100 a month it\u2019s probably not worth their time. \n\nOP. Get a quote for the work that needs to be done to make the space a comfortable work environment and ask for a reasonable amount of free rent to help with the costs.", "replies": [{"id": "gzwgclx", "text": "The ~$3000 In commission will not come close to covering any real TI. Does not sound like they are getting free rent and any LL with gumption shouldn\u2019t offer free rent. The concept is a joke 75%of the time. \nFinally a retail broker would happily step in to a deal at this point to make a quick $3000 and will more then pay for themselves.", "replies": [{"id": "gzwxfsc", "text": "to state any LL with gumption shouldn't offer free rent is incorrect, especially when you consider location, condition and the market in that area. In California, many LL offer free rent or early occupancy to help with any improvements the tenant wants to make. Many large landlords offer 2+ year leases with new carpet/flooring and paint. Smaller landlords that don't have the budget offer a month of free rent to help compensate the tenant for any work they would like to do (so the landlord doesn't have to pay for it out of pocket).", "replies": [], "depth": 4}], "depth": 3}, {"id": "gzx9y4r", "text": "Good idea- thank you", "replies": [], "depth": 3}], "depth": 2}, {"id": "gzxab73", "text": "I am a Broker- but I don't ever do leases esp. commercial.  I appreciate the advice but I'm probably better than most of the mokes around here at negotiations.", "replies": [{"id": "gzxag30", "text": "There is a lot more to a commercial deal then negotiations.", "replies": [{"id": "gzy6vsq", "text": "Trevor- is that you?", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gzwx139", "text": "I have rep'd a number of landlords and tenants for small office space....Here are some things to consider.\n\n\\- small space I would suggest the landlord give you 1 free month on a 25 month lease for you to make any and all improvements on your own and at your own cost. There is other language for permits, etc....but if you're just dealing with floors, paint and lighting, shouldn't be a big concern.\n\n \\- giving T/I allowance on a small space with such a short lease term doesn't make economic sense for the LL. Makes more sense for them to leave the space vacant another 2-4 weeks than to thrown 3-4 months of rental income to improve the unit for you.\n\nGood luck to you", "replies": [{"id": "gzxa1ac", "text": "Thank you- appreciate the advice", "replies": [{"id": "gzyatr5", "text": "You're welcome. Hope it works out for you.", "replies": [{"id": "h01b0qc", "text": "I got the lease with 2 months free!  It's not as bad as I thought and has great visibility.  I even have my own bathroom...lol.  The LL is quite kind and we worked through the details together.  So happy.\n\nThanks again for your help!", "replies": [{"id": "h03rcdn", "text": "That is great news. Happy to hear it worked out for you. A private bathroom is always a big plus.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gzx835c", "text": "You might think about capital improvement deductions that the city allows you to deduct from your rent/per annum. You could also do a 203k if you were incentivised to buy the shithole as you described. Whats the yr. of the building and city. I can toss out some ideas if you haven't ran from the place yet.", "replies": [{"id": "gzxa6or", "text": "Thanks.  Meeting with him tomorrow.", "replies": [], "depth": 2}], "depth": 1}]