Office Lease Negotiation Tips
Use these valuable office lease negotiation tips to help negotiate & secure the best deal on your office space.
Office Leasing Tips
Your company has decided to move offices, and one of the biggest challenges facing you right now is to find the most ideal office space. Not only that, you'll need to agree the terms by which you are going to occupy the space with the Landlord, so now is the time to get clued up on some handy office lease negotiation skills to help you secure the best deal possible.
These Office Lease Negotiation Tips will stand you in good stead by helping you understand the basic principles of office lease negotiations.
Use a Commercial Property Agent
Don't try and negotiate your office lease directly with the Landlord, Commercial Property Agents are experienced negotiators; they know the market and a good deal when they see one, so take their advice and let them do the negotiating on your behalf. Find a Property Agent here in your area.
Ask for a Rent Free Period
You're likely to get one in this current market, and it will help you out after the costly expense of an office relocation.
Ask for Schedule of Condition
Unless the premises are in immaculate condition, always ask for a Schedule of Condition. This will detail all the items of disrepair on the premises before you take occupation so the Landlord is responsible to foot the bill for these repairs.
Terms of the Lease
Landlords are typically willing to offer concessions on a longer term office lease. However, your business requirements may change so try to negotiate a shorter term lease with favourable renewal options.
Rent Review Options
Try to negotiate a fixed increase on rent for the next rent review, rather than basing it on market rates.
Common Areas Maintenance
If the office space you are looking at has common areas shared with other tenants, take into account the cost of running and servicing these areas, or try to negotiate a fixed monthly fee so you can account for these costs in your moving budget.
Use the Office Space Checklist when viewing potential office properties to help you secure the right office space that your business deserves.
