Tenant Rep Broker & Lease Renewals
Office Lease Renewals & Tenant Rep Brokers
If your office lease is coming up for renewal and you are considering your options about whether to renew your office lease or move office. Engaging the services of a Tenant Rep Broker is essential in the decision making process.
Lease renewals are usually a difficult process for a number of reasons. Tenants often feel "on the back foot" when it comes to renegotiating the terms of their office lease with the Landlord, and think they have little leverage for getting more favorable lease terms when renewing. But the opposite is usually true.
By hiring a Tenant Rep Broker you will have a clearer understanding of the market to determine "fair" renewal terms, including new landlord upgrades and new lease clause protections. In addition, a Tenant Rep Broker will identify other potential properties and financial analysis enabling you to compare alternatives on an "apples to apples" basis.
Negotiating your Office Lease Renewal
This should never be done by the tenant, no matter how a good a negotiator you are. Tenant Reps negotiate lease renewals for a living and will represent your best interests in the lease renewal negotiation process.
When to start Lease Renewal Negotiations?
Whether renewing the current lease or considering an office relocation, it is critical to start early and allow ample time in order to ensure a position of strength with the Landlord. Best practice suggests a minimum of 6 to 8 months in advance of the lease expiration or desired move date for small to mid-sized companies and 12 to 18 months for companies requiring larger office space.
Find a Tenant Rep Broker in your City by searching here to get the very best results for your business on your office lease negotiations.
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