By The Lease Coach

One of the most valuable exercises a tanning tenant can go through, prior to negotiating their lease renewal, is site selection. Typically, many years have gone by since you last looked at commercial properties available for lease and it’s time to do that again.

Many tanning tenants resist doing this homework, claiming that they don’t have the time, there are no good commercial spaces available for lease near them or they have no intention of moving. Why waste time looking at other commercial locations? Actually, the converse is true. The more you think you want to stay in your current location, the harder you have to look at what other space is out there and available for lease — especially if you want to get a good lease renewal deal.

As we explain in our book, “Negotiating Commercial Leases & Renewals For Dummies,” an important first step is to check out what your competition has done over the past five years. Consider that your closest competitors may be going out of business, moving, downsizing or struggling to stay open. Would this information change or affect your own lease-renewal plans? Of course it would!

Click here to read the entire article in the latest issue of Smart Tan Magazine online.