Office Lease Negotiation Tips
Taking on a commercial office lease is a major commitment for any business and legal advice should be sought in order to safeguard your company against potential pitfalls further down the line.
These Office Lease Negotiation Tips will help you understand the significance of what you are taking on and therefore put you in a stronger position to negotiate acceptable and more favorable office lease terms that your business can benefit from throughout your tenancy.
Start Early: Allow plenty of time to find the right office space and then negotiate the office lease. Typically, this period can extend up to many months depending on the size of your business and the specification of your office space. The last thing you want to do is rush the process because you've left it all too late.
Do your Homework: In order to get the best office lease deal, you need to understanding the market. Ask your Tenant Rep Broker for the latest report on office rental levels to help get a feel for the market.
Don't put all your eggs in one basket!: Give yourself plenty of leverage so you can compare different property and lease options. It's important to be negotiating several properties at once to see which deal comes out best. This will also enable your Tenant Rep Broker to negotiate one deal against another in order to win further office lease incentives on your behalf.
Always use a Tenant Rep Broker: Remember that a Tenant Rep Broker negotiates office leases for a living, and they therefore have far more expertise than you have to negotiate the office lease to your advantage.
Engage your own Real Estate Lawyer: A Real Estate Lawyer will check over the office lease to see whether what has actually been verbally agreed with the Landlord is documented accurately within the office lease, and whether your legal interests are protected.
Understand the Jargon: There's a whole range of legal jargon contained with a commercial office lease and you need to be familar with it. If you're unsure about what it means, just ask your Real Estate Lawyer for clarification before you sign anything.
In all the excitement of moving office, it's easy to overlook what could go wrong. But by following these essential Office Lease Negotiation Tips and having a good Real Estate Lawyer at your disposal, you will be armed with the right knowledge to secure the best office lease deal for your business.
Planning an office move? Go the office relocation planning resource center
-
Start Planning Your Office Move
Wherever you are in your office move process Help Moving Office has the information you need to plan your office move properly.
Start Planning -
Access The Resource Center
With over 15 guides, checklists, tools & calculators the Resource Center has everything you need to plan, organize & manage a successful office move.
See Resources -
Office Relocation Services Directory
Looking for the right companies for your office move? Connect with independently sourced and pre-qualified vendors that are experts in your local market.
The Directory
Latest Tips
-
85 Critical Tasks Before, During, and After the Move
An office move has countless moving parts. Where do you start? Keep reading... "Guru" of office moving, Ed Katz, has you covered!
Read Article -
Request for Information (RFI) with Best Answers
Looking for the best mover for your office relocation? The best way to narrow down your search is to ask the right questions. What are the right questions? We're here to help! Ed Katz, president of the International Office Moving Institute (IOMI) and guru of office moving, will tell you exactly what you should be asking potential movers and what the right mover will say.
Read Article -
Stages of an Office Move
Identify the key stages of an office move and find out what important issues need to be considered at each milestone.
Read Article