51 – Spouse Won’t Sign on Your Personal Guarantee? Here’s How to Compromise With the Landlord and Keep the Deal Alive

Good morning and welcome to Episode 51 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

You’re in luck because in this episode Craig shares an ingenious solution to a pretty common problem. Here’s the situation: You are ready to start a new business; it’s time to open up shop. What are you going to need? Well, when you sit down with a landlord to sign a lease on this new shop of yours, he or she is going to want you to personally guarantee the lease.

If your spouse doesn’t want to sign the personal guarantee, and they’re right, by the way, (you shouldn’t want to sign it either) then you’re going to be in a pickle! The landlord will probably insist. So, what can you do? Craig has had Herculean success negotiating in these types of situations, this is, he’s avoided personal guarantees by having his clients show the landlord that they can pay more rent up front. Then, the landlord, in essence, gets the security they’re after and the client doesn’t risk their personal assets.

Disclaimer: Craig Melby is not offering legal advise. He’s merely sharing an account of a negotiation.

Give him a call if you’d like to learn more. He can be reached at 800-962-2419. Thanks for tuning in and have a fantastic day!

Helpful Links:

For more information, be sure to visit LeaseSmart.com

46 – Got Cold Feet? Your Risk May not be as Bad as You Think

Good morning and welcome to Episode 46 of The LeaseSmart Commercial Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.

Today Craig brings up a topic that we can all relate to: Cold Feet. Whether you’ve made big business deals or small ones, you’ve felt it. It isn’t surprising either when you think about the long term obligations into which you’re entering.

When signing a lease for example, you might get nervous about being on the hook for a property for the full length of your lease. Talk to your agent, your financial advisor and your lawyer. Go ahead and get some advice. You may find that the risk you’re facing isn’t as bad as you think. In some cases, if faced with personally guaranteeing a lease, you can homestead your home to insulate it from exposure.

Thanks for tuning in!

Please leave us a review in iTunes so that we can help more business owners just like you.

Helpful Links:

For more information, be sure to visit LeaseSmart.com