Updated September 2026 · By Tom Koelzer and Dave Ven Horst, co-founders of Tenant Advisors
The three things that most improve an office lease outcome are starting early, creating real alternatives, and negotiating total occupancy cost instead of base rent alone. Each one adds leverage. Tenants who skip any of them usually pay for it over the full lease term.
Key Takeaways
- Start 12 to 18 months before your lease expires. Time is leverage.
- Get competing proposals from other buildings, even if you expect to stay.
- Compare options on total occupancy cost over the full term, not the rent number.
Do #1: Why start 12 to 18 months before your lease expires?
Tours, proposals, negotiation, and build-out take months. A tenant who starts late has one realistic option, staying put, and the landlord knows it. Here is a typical timeline for a 3,000 to 50,000 SF office requirement. Larger or specialized space needs more time.
| Months before expiration | What should happen |
|---|---|
| 18–15 | Review the current lease (renewal options, notice dates, restoration terms), benchmark rent against the market, define space needs |
| 15–12 | Market survey, tours, test fits, and requests for proposals, including a renewal proposal from your current landlord |
| 12–9 | Negotiate competing proposals; run a renewal vs. relocation analysis |
| 9–6 | Lease signed; design, permits, and construction start if you are moving |
| 6–0 | Build-out and move, or the renewal term begins |
Check your lease for renewal option notice deadlines. Missing one can cost you a right you already negotiated. More on timing in when to start negotiating your renewal.
Do #2: How do real alternatives change what a landlord offers?
Landlords price renewals assuming the tenant will stay. Competing proposals from other buildings, backed by real test fits and real numbers, change that assumption. Tenants who fully expect to stay benefit too, because the renewal has to compete. In the transactions we track and negotiate across Chicagoland, effective rents typically run 10–20% below asking for tenants who create real competition for their tenancy. See how we approach office lease renewal negotiation and renewal vs. relocation analysis.
For a step-by-step renewal timeline and a full list of what to negotiate, see how to create leverage in a Chicago office lease renewal.
Do #3: Why negotiate total occupancy cost instead of base rent?
Base rent is one line in the lease. What you actually pay also depends on operating expenses and real estate taxes, annual escalations, load factor, parking, free rent, the tenant improvement allowance, and restoration obligations at the end of the term. A lower rent with weak expense protections can cost more over five or ten years than a higher rent with firm caps. Compare every option on net effective cost over the full term. Related: CAM costs tenants overlook and our lease audit and occupancy cost reduction service.
What should tenants avoid?
- Negotiating alone against a landlord who negotiates leases for a living.
- Letting a renewal or termination notice date pass unnoticed.
- Hiring a broker whose firm also represents landlords. We explain why on No Conflicts.
Frequently Asked Questions
When should I start looking for new office space?
For most offices of 3,000 to 50,000 SF, start 12 to 18 months before your lease expires. Larger or specialized requirements should start earlier.
Should I get competing proposals if I plan to renew?
Yes. Competing proposals are the most reliable way to get your landlord to put its best renewal offer on the table, even if you end up staying.
What is total occupancy cost?
It is the full cost of occupying your space over the lease term: base rent, operating expenses and taxes, escalations, parking, and build-out costs, net of concessions such as free rent and tenant improvement allowances.
Benchmark Your Lease Against the Market
Lease expiring in the next 18 months? We will show you how your rate compares with the deals we are negotiating now. We represent tenants only, and the landlord pays our fee. Schedule a strategy call or call (847) 778-0296.
About the authors: Tom Koelzer and Dave Ven Horst co-founded Tenant Advisors, Inc. in 2004 after nearly two decades each as First Vice Presidents at a national commercial real estate firm. The firm represents office tenants only, never landlords, and has negotiated 2,000+ office leases across Chicago and the suburbs.