CHAPTER 27 Getting the Best Renewal Terms on Your Lease our Lease
This last chapter I’m going to talk about how to get the best commercial renewal possible on your lease. It’s a slightly different process than negotiating terms on a new lease, for clear reasons. You are already there, a buildout shouldn’t be needed, and many other clauses should stay the same. It’s not uncommon at all to see landlords raise the rent when it comes time to renew. That can be okay if the rate is acceptable. Many times, they raise the rent to an unfair level and expect the tenant to be lazy and just accept not having to deal with a new office move. How you get around this is similar to how you get the best deal on a new lease. Only the details are different. Just like every step in this process, in order to give yourself the most leverage, start the negotiations and communications early. If you start too late, the landlord will know you don’t have any immediate options to move into and that will show in negotiations. Also, naturally, I only suggest release if the opportunity is right for your business, the space has worked well for your team, and the landlord or management group was responsive and respectful throughout the duration of your stay as a tenant. You can use the same tenant broker as you did with your original lease (assuming you had one). If you didn’t like them you could find another. Tenant representative brokers have the same 167
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