Office Leasing Tips: Negotiating the best deal
If your company is in the process of finding new office space, you'll need to get wised up on how to win your business a good deal when it comes to negotiating the terms of your office lease.
Whilst office lease negotiations are best left in the hands of a qualified Tenant Rep Broker, it's not a bad idea to get yourself clued up on the latest Office Leasing Negotiation Tips.
There are a number of things you can do to win your business the best office lease deal, they include:
Get Representation
You'll need a Tenant Rep Broker and a Real Estate Lawyer batting for your side of the bargain. They'll posess the necessary negotiation skills and legal expertise to secure you a competitive deal.
Check the Measurements
Don't necessarily believe the space measurements the landlord gives you. You're paying for every single square foot so check that the measurements add up and are accurate before agreeing to take the space.
Negotiate fixed rent increases
Try to negotiate a fixed percentage rate of annual increase on the rent so that you don't leave yourself vulnerable to unpredictable rental increases each year. This helps you plan your cash flow and manage your budget efficiently.
Get a break clause
Don't tie your business down to commit to the entire length of the office lease. Having a break clause part-way through the office lease will enable you keep your options open.
Ability to sublease
If your business circumstances change, or your finances take a plunge, you'll want the flexibility to be able to sublease the space for a given period, so try to avoid restrictions to sublet within the lease.
Find a Tenant Rep Broker in your City to help you negotiate a competitive deal on your office lease.
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