In this day and age when we hear the word “sensational” it often seems to be about something that is too good to be true, and we have a healthy distrust for anything we see in the media that has been “sensationalised”.

This week I would like to reclaim the word sensational as something positive, because indeed there are some very good deals to be found in the property lease market right now.

Landlords and developers are flat out using their imagination and thinking laterally to attract tenants and some very attractive incentives are being offered.

I heard of a deal recently where a lease was signed where the tenant was given a 14-month rent free incentive as part of an eight year lease.

There are incentives on offer too for real estate agents to close deals on commercial and industrial space, with one developer offering round-the-world air tickets to two agents if they can secure a tenant.

And I know of other instances where real estate agents are being offered flights to the Gold Coast if they manage to secure a deal.

So for the prospective tenant, times are good and developers and property owners are competing intensely to secure tenants.

Now while I am upbeat about the great opportunities for anyone in the market for a commercial or industrial lease, it still requires a good dose of street smarts before entering into any agreements.

These sensational offers are genuine, but one must still be very mindful of the terms and conditions in a lease. While the market is great for the tenant right now, the market is increasingly complex and that is reflected in the makeup of lease agreements.

So my advice is to enjoy the fact it’s a buyers market, but ensure you have some wise heads advising you in setting your business strategy for your property needs and supporting you through the negotiation process.

This entry was posted on Tuesday 4th November 2008 and is filed under Property Leasing. Both comments and pings are currently closed.