Below is an impromptu list of our top ten tips for negotiating office space leases. Of course there are more than ten, but here are some of the obvious ones that come to mind.
Top 10 Negotiating Tips:
- Allow plenty of time to negotiate
- Develop alternative options to create negotiating leverage
- Have a complete understanding of the landlord’s leasing motives
- Leverage your strong points, whether it be strong company financials or minimal tenant improvements needed for the space
- Develop a lease renewal back up option in your current space
- Have your company financials readily available in order to avoid wasting time and to demonstrate credibility
- Ask for all concessions in the beginning of negotiations and ask for more than you need without “low-balling” the landlord
- Have a complete understanding of the landlord’s tenant improvement allowance and how this will impact your rental rate
- Use the building vacancy rate to your advantage
- Get professional advice unless you consider yourself an expert at real estate negotations
For more information or advice and guidance on how to successfully negotiate an office lease, or for information on our tenant representation services and how you can benefit from our expert lease negotiating services, contact Stefan Rogers: firstname.lastname@example.org / 949.263.5362.