How can you effectively follow up after a lease negotiation?

1 Confirm the details

The first thing you should do after a lease negotiation is to confirm the details of the deal in writing. This can be done by sending a letter of intent, a term sheet, or a draft lease agreement to the landlord, depending on the stage of the process. The document should outline the main points of the negotiation, such as the rent, the lease term, the security deposit, the maintenance responsibilities, the incentives, and the contingencies. You should also ask the landlord to acknowledge the receipt of the document and to confirm that they agree with the terms.

2 Review the lease agreement

The next step is to review the lease agreement carefully before signing it. The lease agreement is a legally binding contract that defines the rights and obligations of both parties. You should make sure that the lease agreement reflects the terms that you negotiated and that there are no hidden clauses or fees that could affect your business. You should also look for any errors or inconsistencies in the document and request any changes or clarifications if needed. If possible, you should consult a lawyer or a real estate expert to help you review the lease agreement and protect your interests.

3 Communicate regularly

Another important tip to follow up after a lease negotiation is to communicate regularly with the landlord and keep them updated on your progress. You should inform them of any changes or delays in your move-in date, your renovation plans, your insurance coverage, or your business operations. You should also respond promptly to any questions or requests that they may have and address any issues or concerns that may arise. By maintaining a clear and open communication, you can build trust and rapport with the landlord and avoid any conflicts or misunderstandings.

4 Prepare for the move-in

The final step is to prepare for the move-in and make sure that everything is ready for your business to start operating in the new space. You should inspect the premises and verify that they are in good condition and comply with the lease agreement. You should also check that all the utilities, services, and amenities are working properly and that you have access to the keys, codes, and security systems. You should also notify your customers, suppliers, and partners of your new address and contact information and update your marketing materials and online presence accordingly.

5 Follow up after the move-in

The follow-up process does not end when you move in. You should continue to follow up with the landlord after the move-in and establish a positive and long-term relationship. You should pay your rent on time and in full, comply with the lease agreement and the building rules, report any problems or damages, and request any repairs or improvements. You should also provide feedback and appreciation to the landlord and let them know how satisfied you are with the space and the service. By following up after the move-in, you can ensure a smooth and successful tenancy and create opportunities for future negotiations or renewals.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?