If a tenant decides to rent a space, the first step forward is submitting a proposal or offer. The proposal should include:

• Information about the tenant’s business including website and financial information
• Monthly rent
• Lease term length
• Any work the tenant wants the landlord to complete
• Any rent concession
• Start date
• Security deposit
• Escalations
• Base tax year
• Additional monthly costs

Your broker can draft the offer and you can review it before they submit the offer to ownership. All offers should be non-binding . Unless time is of the essence or there is competition for the space, it is usually smart to send an initial offer that is a little too low to be accepted, but high enough to be seriously considered and garner a counterproposal.

There can be several rounds of counterproposals before an agreement is reached.