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4. More dollars at stake – The way you handle your lease renewal is critical. Keep in mind, real estate is your company’s second or third largest expense and its significant impact on your bottom line can’t be overstated.. In this economic climate, landlords are providing free rent, lower base rent and tenant improvement dollars to renewing tenants who know how much to ask for, and how to ask for it, based on market conditions specific to their geographic area.

Markets change; building conditions change; even your landlord may have changed since you last signed your lease. These changes might provide a window of opportunity for you. For example, during lease renewal, you could potentially eliminate archaic requirements such as restoring the space to its original condition upon lease termination, or a large security deposit

Today we discuss the options available to companies looking to downsize their office space due to cost-cutting measures. We’ll highlight the importance of speaking to a broker well in advance of lease expiration and explore alternatives to downsizing in-place.

Too often, tenants pay attention to rental rates without considering the total amount of square footage leased. Don’t make this common mistake!

Architects can play a vital role during commercial real estate searches and renewals. In conjunction with real estate lawyers and brokers, they represent an essential part of any negotiating team.

In most commercial leases, a tenant will pay a penalty for failure to vacate the premises in a timely fashion at the end of the lease term. Said penalties are often stated as 1.5-2.0 times the rent. Tenants may opt to negotiate this number down to a more acceptable amount if/when reasonable circumstances arise to hinder a prompt departure.

Tenants who consider buying out of their existing office lease usually do so for three main reasons: