Are you ready to renew your office lease?
You're operating from a rented office and the lease renewal is just around the corner. This is the best time to assess if your office is meeting your business requirements.
Take your next office lease renewal as an opportunity to revisit the market and use the information to renegotiate a more favourable agreement that is cost-effective and profitable for your business.
It’s time to reflect on your business performance and priorities, as well as the status of the property. For example, does the existing lease complement your business and suit your growth plans or does it act as a hurdle?
If you’re nearing an office lease renewal
Renewing your lease early allows you to lock in a favourable rental rate, get tenant improvement dollars to renovate your space or even expand or right-size your office.
Review the market
Look for comparable spaces to ensure your rental payments are in line with the market.
Understanding current market trend puts you in a better position for negotiation with your landlord.
Understand your landlord’s position
Would it be better to renegotiate your lease or to relocate? What is your rights to retain option?
It's best to renew when your landlord needs you more than you need him, but finding that exact time can be challenging.
Involve an expert
The amount of time to secure a great space and deal is not an exact science.
We offer a holistic view on commercial leasing by taking into consideration the size of your business, your internal objectives and projected future growth.
You are at a vantage point to negotiate the best agreement if you are well-prepared, with in-depth information about your business needs, financial status, and market insights, and when you have thoroughly reviewed all options available to you.
Don’t let the lease renewal catch you unaware. It’s a vital decision that has direct implications on your business growth and financial planning.
Talk to us. Being a market leader, JLL can help you make the right decision using transparent market data topped with expert analysis.