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Negotiating Office Lease Terms – 3 Tips

August 1, 2016

How can businesses negotiate favorable lease terms in today’s commercial real estate environment? Preferred Offers Network offers 3 simple tips to making smart choices about your lease terms.

1. Get The Most Bang For Your Buck – Examine what you are really getting with that monthly rent payment. Are you paying for the bare bones of walls and a roof over your head? Or does the space come with furniture, phone and internet lines, cleaning services, or reception services. When you put pen to paper and lay out your budget, be sure to include these extra expenses if they are not part of the monthly lease rate.

2. Work With An Expert – Especially when unfamiliar with a particular area, it’s beneficial to partner with a knowledgeable commercial real estate expert. They know exactly what to look for in a space, and can consult with you to discover your needs, growth plans, and workplace requirements to find the best space available. Without this vital knowledge, businesses may end up taking more space than they need or realizing conditions aren’t as ideal as they’d hoped.

3. Opt For Flexible Lease Terms – A 12 month lease term is the industry standard, but don’t settle! Many times you can negotiate a shorter lease term, or better yet, as a Preferred Office Network client, we offer No-Term lease agreements in all of our 370+ business centers in the United States and Canada. We believe in flexibility and understand that business plans can change quickly, often requiring expansion, downsizing, or a change in market. Our No-Term lease agreement allows clients to act quickly without the costlyĀ hassle of breaking a long-term lease.

To learn more about lease terms or working with Preferred Office Network for your next office space need, please call us at 855-4-NOTERM orĀ email at info@preferredofficenetwork.com.

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