Category Archives: Office Leasing

Office Leasing Mistakes – Underestimating the Time Required to Begin Your Search

Posted by on February 7, 2012 No comments

One of the biggest mistakes companies make is waiting until the last minute to start their search for new office space or begin their office lease renewal process. Leasing office space can be a time consuming process and one should never underestimate the time required to lease space. While it is possible to find and lease space within 30 days, it can be very difficult and stressful. Many steps can be overlooked and oftentimes you end up having to settle for subpar space and/or higher lease rates.

Whether you are searching for small or large space, or just renegotiating your lease renewal there are no advantages to waiting until the last minute. In every instance you are giving the landlord the upper hand. When they know you need to be moved in within 15 days and don’t have any other alternatives they have leverage. When you wait until you only have 20 days until your lease expires and they know you have not researched the market for alternatives they simply present you with a lease renewal proposal and ask you to sign on the dotted line. Read more »

Big Wave Of Lease Renewals To Roil Office, Flex Markets

Posted by on February 7, 2012 No comments

The last big hit from the Great Recession should descend on owners of office buildings and small flex spaces this year.

Landlords whose tenants signed five-year leases in 2007 are expected to see many of those tenants downsizing or renegotiating rental rates when their leases come due, says Tim Ruffin, senior vice president of office properties and managing partner of Colliers International’s Reno office. Market rates have fallen an average of 50 cents a square foot since 2007, Ruffin says.

As a result, net operating income will drop for landlords — many of whom already are struggling with vacant spaces in their buildings — while the balance sheets for tenants is expected to improve as they reduce their operating costs.

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Eight Tips for Negotiating an Office Lease Renewal

Posted by on January 13, 2012 1 comment

So I’m meeting with our landlord tomorrow to discuss a lease extension, and I’m in the process of pulling together my thoughts on the renewal.

Our office building is owned by a small group of investors, so we have a personal relationship with the owners/landlord. I consulted with several colleagues of mine, and here are our top considerations for effectively negotiating a lease or extension:

1. Be a good tenant

It’s so basic to sound business practices, but it bears repeating, particularly when you’re dealing with individuals and other small business owners. Resolve issues along the way as amicably as possible -it all comes back to you in the end. Read more »