Commercial office space lease terms can be lengthy, especially when compared with their residential counterparts. However, there always comes a time when a lease term is up and it’s time to either renew or look for a new office space in which to relocate. Landlords are often in a better place at this time since they know that it’s no easy task to get up and relocate your entire business. Therefore, negotiating terms is often on the side of the landlord. With that said, this doesn’t have to be the case, especially if you show signs of interest in moving to a new location.
Look Around at Other Office Space Leases in the Area
When the time comes to renew your lease, you don’t want to be scrambling trying to find possible alternatives to your current location. You should know what other options are out there in case you and your landlord cannot agree on favorable lease terms with a new lease. Also, by checking out the other alternatives, you are letting your landlord know that you are not 100% set on renewing the current lease, which may make the landlord more likely to offer new lease terms which are more favorable to the tenant in the leasing contract.
Discuss Future Lease Arrangements with Current Landlord Well in Advance
Another easy way to show your current landlord that you may, or may not, be renewing your lease with them is to sit down with your landlord and discuss the future lease terms. Before you commit to a new lease with your current landlord, you want to be sure that this will be the best move for you and your company. If your landlord feels as if you have no other option but to stay in your current location, they will be less generous with the lease terms which they offer. You don’t want to be put in that position so be sure to get a feel for what your landlord will be offering if you decide to renew your commercial office space lease.
An additional way to let your landlord know that you are searching for other accommodations is to hire a tenant representative. When you utilize the services of a tenant representative, your landlord knows that you are not just going to settle for any and all terms which the landlord offers to you and you will be fighting for the best tenant-oriented lease terms possible. Your tenant representative can help out, no matter whether you decide to renew your current lease or venture out to find a new location in which to set up your company.
As a tenant, you still have flexibility when it comes to getting the best possible lease terms in a renewed lease. Just be sure to explore all options and don’t let your landlord believe that you will automatically renew your lease for lack of any other options as this will not help you to obtain the best lease terms should you choose to renew.