Please tell me how to approach a commercial leasing agent for my new office space.
Hi,

I'm moving my law practice to a new city and I need some advice on how to deal with the leasing agent.

The city I am moving to is small; vacant commercial spaces are abundant in the downtown core.  Some listings have been posted for 6+ months.  The space I am interested in has several empty units.

First, I want to know what kind of questions a commercial real estate agent might ask about my creditworthiness and ability to pay.  My business is earning money but my personal credit rating is horrible.   

Second, my business relies on Google reviews and Google maps to bring in clients.  Would it be reasonable to negotiate that I can start using the address immediately so I can move my google reviews and listing to the new address before I arrive?  It takes around 6 weeks for all the media stuff to get updated and start working, and I can't wait until I arrive to do that.

Any advice would be appreciated.

Thank you!

UPDATE: Thank you to MAHEILONG for suggesting the "fixturing" period.  I am getting one month free!  They totally accepted my application.  thank you to everyone who answered :-) 
[{"id": "du01mlz", "text": "My guess would be that they will ask you about your credit but it won't be a deal-killer.  All depends on the market and the building owner.  A commerical leasing agent only cares about getting a commission.  They are going to be looking to make the deal happen any way they can and should help you make your best case to the landlord.  It sounds like the market is in  your favor.  It does lessen your ability to negotiate the lowest rent. \n\nThe address thing is perfectly reasonable, no skin off anyone's back, but it sounds like you would be the only person that would be aware of the usage, so it might best to just ask for forgiveness in the unlikely event that it ever becomes an issue.  In any case, don't bring it up until after you have finished negotiating; you don't want to give them a free chip to use against you.\n\n", "replies": [{"id": "du0nxqi", "text": "I mean yeah, agents work on commission but that doesn't help a tenant when it comes to credit. In the DC market all landlords will check the prospective tenant to make sure they are actually able to pay the rent. If they don't have great credit, or if the company is really new and doesn't have strong financials, usually the landlord will either make the security deposit higher (which your broker should negotiate to burn down throughout the lease term so the landlord isn't holding it the whole time) or on the extreme end asking for a personal guaranty. \n\nEven more reason for the the landlord to check is if they are putting any improvements into the space for the incoming tenant.", "replies": [{"id": "du49ulz", "text": "Smaller town with a low absorption rate and a landlord with an interested tenant?... Credit won't/shouldn't kill the deal.  When you go conditional on the offer (only offer the local market deposit) and provide the landlord your financials, have the landlord open the dialogue about their lack of comfort.  They may be ok with the risk depending on what they are fronting for the deal.  \n\nIf you do have to put up the deposit, try to have as much money as applied to rent and not held as a deposit.  Ie. If the deposit is bumped from 2 months to 4 months try to get it applied to the front two months and back 2 months of rent owed etc.  Don't forget, you may also be able to get a letter of credit too.  DO NOT, unless there is no other way, guarantee.  As you said, there will be some issues with your move and sometimes things get a little mixed up in a relocation, without a guarantee your landlord will be more inclined to work with you should any hiccups arise.  ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "du02mct", "text": "I don't think the using the address online matters to anyone at all, but you may want to list that in your lease/loi just to be clear.  I can't think of any reason if I was repping the landlord I'd care about that.  \n\nThe credit thing just be up front, give your broker your credit report.  I'm not saying that isn't an issue, but its one we deal with.  What we do not want is to find that out at the last second.  A lot of landlords won't even run that.", "replies": [{"id": "du0odta", "text": "I'm in the DC market and it's custom to have to provide the previous 2 years P&amp;L statements. I don't think they even run credit for smaller deals. ", "replies": [{"id": "du0qhbq", "text": "Same in Orlando fl market.", "replies": [], "depth": 3}], "depth": 2}, {"id": "du55or7", "text": "Credit Report is a rare request in the Chicago office market. Two years tax returns, P&amp;L, balance sheet or account balances are much more common.", "replies": [], "depth": 2}], "depth": 1}, {"id": "du04a3z", "text": "In a soft market, if you have poor credit, you can just have a bigger deposit. \n\nThey will run your business credit, personal credit, ect. If it is a really soft market, they would more or less take anybody. \n\nAny I think you are putting the cart before the horse here for the google reviews ect. \n\nHow much space do you need? 600 SF or less? \n\nYou can get a turnkey executive suite and just pay month to month. \n\nThis is a long term commitment, 5-10 years and will make up a significant portion of your income. 6 weeks of google reviews seems like a poor reason to make a choice. \n\nWhat about parking for you and your clients, building security and accessibility, ect. \n\nBest of luck.  \n", "replies": [], "depth": 1}, {"id": "du0o554", "text": "It's not so much the agent who will be asking about your creditworthiness but more so the owner of the building. The owner wants to make sure you're going to be able to pay your rent throughout the lease. \n\nIf you don't have good credit, or if your company doesn't have financials to show, have your broker ask them to either make the security deposit higher, or last case scenario do a personal guaranty. \n\nIf the landlord does want you to pay a higher security deposit, negotiate the deposit to burn down after X months to ensure you get back a portion of it rather than the owner holding it through the entire term. If you're doing this alone and need some language to put in the proposal, feel free to PM me and I can share some suggestions.\n\nNot sure about the Google reviews question, but it doesn't hurt to ask.", "replies": [], "depth": 1}, {"id": "du0qlno", "text": "Also 6 months isn\u2019t a long time for space to be vacant. I know it seems like a lot to you.. but it\u2019s not horrible. Larger security deposit, also reference letter stating you made all your last lease payments on time with the amount stated and term should help.", "replies": [], "depth": 1}, {"id": "du0wesu", "text": "Well this took a turn for the weird today. The call with the leasing agent was one of the more bizarre conversations I've had lately - which is saying a lot.\n\nLeasing Lady: Hello can I help you\nMe: I am interested in this listing you have posted downtown at $11/sq foot\nLeasing Lady: It's a great historical building but this particular floor does not have air conditioning.\nMe: Darn it, our servers generate a lot of heat.  I was honestly more interested in the building at XXX but at $24/sq foot it's just too expensive.\nLeasing Lady: That's my listing too.  It's been empty for years.I can get the owner to cut the lease to $11/sq foot, and increase it gradually to market rates. \nMe: Stunned silence. \"Um...I don't understand, they might cut the rent in half?\"\nLeasing Lady: I can get him to drop the price to just cover his taxes and overhead for the first year\n(chit chat about building and local market, which is apparently slow as fuck)\nMe: What kind of documents do I need to prepare for the application\nLeasing Lady: You're a lawyer so just give me any kind of income annual statement so I have something for the file. There's no credit check.\n\nThen she sent me this email:\n\nI am glad we had the opportunity to speak about your plans in the (City) office. Below are a few photos; 2 of views from the 10th floor suite windows and the other of the space (note the walls have since been painted a more neutral color throughout.\n\nAs discussed, I would like to propose to the Landlord the following:\n\nTerm: 5 years commencing May 1, 2018 with 1 time right to terminate on April 30, 2019 (no penalty costs, notice to terminate to be provided by January 2019)\n\nRent: Year 1: $1,020/mth, Year 2: $1,700/mth , Year 3 &amp; 4: $2,000/mth,  Yr 5: $2,100/mth  plus 5% GST.\n\nSpace taken \u201cAs is\u201d\n\nRent includes all rent, property taxes, mgmt fees, utilities and in-suite janitorial\n\nLet me know if these numbers work in your budget and if so I will have the discussion with my asset manager. \n\n***\n\n$24/square ft is the most expensive office space in this city.  Most comparable spaces go for $15-20.\n\nThe building has a bunch of government offices as tennants.  My clients are visiting those offices so its an ideal spot for me. \n\nAm I supposed to ask for more concessions or do I just go with this?\n\n\n", "replies": [{"id": "du0weya", "text": "What a *darn* shame..\n***\n^^Darn ^^Counter: ^^417209", "replies": [{"id": "du1670i", "text": "Good bot", "replies": [{"id": "du1672b", "text": "Thank you underweightbull for voting on Darnit\\_Bot.  \n\nThis bot wants to find the best and worst bots on Reddit. [You can view results here](https://goodbot-badbot.herokuapp.com/).  \n\n ***  \n\n^^Even ^^if ^^I ^^don't ^^reply ^^to ^^your ^^comment, ^^I'm ^^still ^^listening ^^for ^^votes. ^^Check ^^the ^^webpage ^^to ^^see ^^if ^^your ^^vote ^^registered!", "replies": [], "depth": 4}, {"id": "du16736", "text": "Thank you,  underweightbull. *Beep boop*, my creator thinks I am a good *darn* bot too :)\n***\n^^Darn ^^Counter: ^^417277", "replies": [], "depth": 4}, {"id": "du167mx", "text": "You're a good homo sapiens! 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Get another renewal/termination option. Keep in mind, just because you're agreeing to escalated $ in successive years, that termination option means you get the option to keep going or renegotiate. At termination/renewal periods you'll need to be careful not to rub them the wrong way if you want to make a change to what's already agreed to, but if comparable space is cheaper elsewhere, leaving is your leverage. ", "replies": [], "depth": 2}, {"id": "du1bu70", "text": "its up to you.  You know the market better than any of us (we don't even know what city this is).  Utils/janitorial are a few bucks right there.  Make sure you adjust for that when comparing to other spaces where you have to do that stuff yourself.  \n\nThat 1 year cancel option is pretty good for you with a new business and shaky credit (that they don't know about, but still).  I'd probably make you pay back the abated rent if you cancel personally.  \n\nThey say pigs get fat hogs get slaughtered.  Can you maybe negotiate a little more out of it?  Maybe, you probably know best.  Is it pretty fair to you and a great location for your business?  Seems like it.  \n\nAlso I know your are an attorney, but hire a RE attorney to review the lease.  You are about to sign a contract for around 100k and 5 years of your life.  Buy 90 minutes of attorney time now not in 2 years when you have an issue.", "replies": [], "depth": 2}, {"id": "du4ae9j", "text": "I always like to ask for a month or two of fixturing with the ability to operate free of all rent (gross free).  The cash flow savings tend to aid in the relocation costs.  Honestly without the city and particulars like what the operating costs actually are etc. I can't evaluate if it's a good deal or not but rough calcs sounds like the space is 1,112 sf? if the op costs are about $11psf then your average rate is $16.83.  Likely an NER of like $11? From your GST comment I am assuming you are from Alberta where would dictate if this is a good rate or not.  Calgary vs Fort Mac vs Edmonton etc then submarkets.  ", "replies": [{"id": "du4ahon", "text": "Sorry just re read your post so smaller cities like Grand Prairie, Airdrie, Nisku, Fort Mac... Getting close? ", "replies": [], "depth": 3}], "depth": 2}, {"id": "du55vly", "text": "&gt;  It's been empty for years.\n\n This can be a red flag. Vacant buildings or floors often have neglected or outdated building systems. Is the HVAC in good working order? Is the electrical updated / sufficient for a modern load with computers/servers, etc.? Plumbing, lighting, kitchen appliances, restrooms. Are the common areas maintained?", "replies": [], "depth": 2}], "depth": 1}, {"id": "du2wok6", "text": "I would ask for a short term lease to start, say 6 months, with the option to convert into something longer, if you remain in good standing . This will make credit less of an issue, and allow the LL to get comfortable with you. Just remember that you likely have the advantage here. It is definitely a renters market .", "replies": [], "depth": 1}]