Today I’m going to talk to you about negotiating contracts. Specifically, I’m talking about my team’s negotiations with ACE Hardware, the company that wants to lease my commercial space in Colorado.

In any negotiation, you have to know where YOUR line in the sand is and be secure in that decision. What is your break point? What are you willing to give up to get the deal done?

These are questions I’m asking myself.

You see, ACE and I want different commencement terms as to when they begin to pay rent. They’re saying 60 days after the Certificate of Occupancy is signed. That may sound good, but really it’s not. It means they are seeking a flexible start date, because the certificate may not be signed in the next 60 days or any specific date. There are too many variables involved during the construction of their store. I don’t want to have a vacancy for very long. If they aren’t paying rent, well, that’s considered a vacancy.

I don’t want to be tied to a floating date and they are hesitant to be tied to a firm date. We have to meet somewhere in the middle, and I think we’ve come up with a reasonable solution.

Watch this Cash Flow Video Diary entry to learn exactly what I’m proposing. See if you think it’s a smart solution or not. If you were ACE, would you accept my terms? I invite your feedback about this or any solution I present in any of my Video Diary entries!