13 Lease Clauses that can get you in trouble, do you know what they are?
I’ve explained to many of our association members that being in the fitness business is like playing hardball, not city league softball, where everything you do counts towards your success.
Each year across the country, over ten thousand fitness centers attempt to negotiate a new lease or exercise a renewal option – with several thousand-club owners negotiating a commercial lease for the first time.
Think about it . . . you wouldn't golf for money against the clubhouse pro, so why would you negotiate your lease against a seasoned landlord who negotiates leases every day for a living?
It has always been my opinion, club owners don’t get what they deserve; they get what they negotiate!
Think about that for a minute.
One of the most frequently recurring problems encountered by the Global Fitness Association Team is when a client calls with problems that have arisen from their lease.
There are 4 times in your business life when you may need help:
1. Signing a lease for the first time. Leases favor the landlord, and your lawyer will check only the legality of the lease, making sure that the legal terms are correct. However, you can do better, a lot better if you understand the game.
2. Lease is up for renewal. Instead of just signing and agreeing 100% to the landlord's terms as written in the original lease, why not try to save money? Once again, you can do better, a lot better if you understand the game.
3. Landlord is not performing. Has your landlord or property manager let you down? Have repairs and maintenance been neglected around the building or shopping center? i.e., roof leaks, parking lights, potholes, and other items the landlord is most likely responsible for? Once again, you can do better, a lot better if you understand the game.
4. Challenging business climate? Has the economy forced you to be late on your payments? Is your landlord growing impatient and preparing to evict you? There are many ways you can successfully negotiate with your landlord if you understand proven strategies and techniques.
5. Contemplating closing your business and throwing in the towel! You have a huge liability and exposure on the remaining term of your lease. You’ve heard of the nightmare stories, well, don’t be fooled by your landlord and get the help you need today.
While showing you how to successfully negotiate with your landlord, Global Fitness Association can put your mind at ease with our proven track record. To receive a copy of the 13 Lease Clauses that can get you in trouble, email me at firstname.lastname@example.org and I will promptly email you a copy.