This is why I keep stressing to start this process early. This way, you’ll have backup options. When you tell a landlord that you have other options you’ll look at if he doesn’t lower a price or change something, it is true. When it’s not true, it’s sometimes obvious. Make sure it is true. The other leverage to use is the market comparisons. And if you combine those two factors, the market comps, and your other options, you can often get the landlord in a favorable situation for yourself. Without any real leverage, you may have to take a deal with terms that you don’t particularly like. That’s because if the landlord pulls their offer back and you were bluffing, you’ll be stuck in a situation that could lead to you paying month to month at your current office at a horribly high rate.
PRIORITIZE YOUR WANTS AND NEEDS S AND NEEDS
You want to find the perfect space to reflect your unique business. If you have enough time to work on achieving this through negotiations, it is more than possible. You can get a buildout to your liking without having to settle. If you start the process on time, there is no need to fold and forfeit any of your needs or wants. Eventually, you’ll have to weigh them out and give up some of them, but not at the start. The biggest needs, however, can’t be forfeited. If you need an open but professional space to host clients, then that’s not something you should settle on any less with. If your company is team and project oriented and needs a few conference rooms, don’t take less than that. These factors are all probably aspects of your buildout and will relate to the budget that is allotted for it. You or your broker need to make it clear what your minimum needs for the buildout will be.
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