10 Expert Tips For Negotiation An Office Lease Renewal
Most tenants are unacquainted about negotiation an office lease renewal. Some may not even realize they have the opportunity to do so! Typically their broker advised them of their current lease, so they are not aware of what terms to negotiate in the first place. With the vast amount of things participating in renewal, it’s going to leave tenants wondering where to even begin. Luckily, the tenant can have specific information to leverage better lease terms if the negotiation is approached correctly. 1) Negotiation: Absolutely engage the services of a tenant representation broker. Landlords conduct negotiations on a daily basis, whereas tenants are only in the market every 3 to 10 years. A commercial real estate broker who specializes in tenant representation will know current market conditions, including the terms offered at your existing building for new leases and for lease renewals, as well as the terms offered by your landlord’s competitors. The simple presence of an experience...