Lease Renewal Process

When landlords compete, tenants win. A company usually only goes through the leasing process every 3 to 10 years, while your landlord goes through the process numerous times during any given year. Because of this experience, the landlord generally has an advantage over the Tenant during the lease process. The same can be said when companies are exploring the option of renewing their lease within their existing location. When Landlords compete, Tenants win. Here is our approach to create competition:

1. Engage Current Landlord:
a) Commence early renewal negotiations  with current landlord
    1-2 years in advanced
b) Commit to making best economic & business decision be
     it relocate or renew
c) Estimate 6-12 months to achieve results
d) Examine relocation within current building
e) Determine expansion & contraction requirements
f) Meet with landlord
g) Broker meets with landlord
h) Begin sublease on current space if needed

 

2. Engage Outside Market:
a) Commence forward commitment negotiation with competitive
     property owners in submarket
b) Engage multiple property owners to leverage competitive advantage
c) Analyze owner motivations/current position
d) Consider current rolling tenants in marketplace for alternative lease space
e) Examine all opportunities
f) Commence negotiations with shortlist of alternatives