Hi Everyone

I have been running a business for about 5 years now and with the help of many different business people and advice the business is starting to run quite well with very little daily input from me. Leaving me more time to work ON the business and not IN it.

The problem I’m having is that our lease on our current property is about to expire and because property prices in our area have gone though the roof they want to increase the rent by a large amount. (They now want to charge $48,000 a year and we use to pay $29,000 so a increase of $19,000)

As you can see this is a very big increase and would end up coming straight out of my income which is made from working on the business. As the business has only just started to see some positive returns in the past year it would take a large amount of income which I receive from working on the business.

I would like to know if anybody has any good advice on either:

A)Negotiating with our current real estate agent to get a better deal then what we are currently paying. (I believe that it many be over priced for our old price as the tenant mix has changed over time) (I don’t think for the better)

Or

B)Looking for a new space (Any tips or tricks)


So if people could recommend and information or have an advice on the matter that would be great.

Thanks

P.S I would also be interested in reading any book with a author who is an expert on the matter.