Several activities may be performed by the lessor at the end of lease. These include negotiation with the lessee and the first thing to do is to look at the lease agreement to ascertain the end of lease rights and obligations. The agreement may for instance provides for renewal, purchase or return of the leased asset
- you should look for a win –win situation
- Start the negotiation by asking for more than you actually want. This creates flexibility and a win- win situation
- Neither part should allow negotiation to paralysed. Any stumbling issue can be set aside for later discussion.
- The supposed limits established by the lessee should not be an impediment to you. You can test the limit by suggesting alternatives
- You should not threaten or intimidate the lessee.
- If you grant a concession you should immediately ask for one from the lessee
- Whenever possible you should have the lessee make the first offer.
- You should be conscious of body language
- You always attempt to be unemotional, to prevent the lessee from detecting weakness
- Be prepared for negotiation by fully understanding the situation before negotiation begin
Depending on your particular need, we can arrange a special session for your staff to comprehensively discuss on the risks in leasing business. Contact us today, 08023176691, 08023179048, info@elannigeria.org, elan_nigeria@yahoo.com