After assessing the landlord’s proposal, you should draft your own counteroffer. Be aggressive in your initial counteroffer. You are unlikely to get everything that you ask for. However, you won’t get any concessions unless you ask for them. Ask for a lower rental rate, shorter lease term, and a broad exclusive use clause. In your counteroffer, mention that you are also negotiating with another landlord. This news might spur the landlord to give you as many concessions as possible. Most landlords will require you to personally guarantee the lease. This means that if your business can’t pay the lease, then the landlord can come after you personally to pay. If you’re a small business without much credit history, you can expect to sign a personal guarantee. Many commercial landlords will expect a security deposit and/or prepaid rent. You can expect up to two months’ of rent as a security deposit and one to three months of rent prepaid.

Summary:
Draft and submit a counteroffer. Sign a personal guarantee. Make payment.